Common use of Wire Settlement Clause in Contracts

Wire Settlement. With respect to settlement outside NSCC’s money settlement process, (i) Schwab will transmit the aggregate purchase price of all the purchase Orders for a given trade date to the Fund by wire transfer on the appropriate Settlement Date; (ii) Fund Company will cause the Fund(s) to send to Schwab the aggregate proceeds of all redemption Orders for the Fund(s) placed by Schwab on a given trade date on the appropriate Settlement Date. Such redemption proceeds will be sent by wire transfer on the Settlement Date for the redemption Orders; provided that Fund Company may, in its discretion, send such proceeds by check if the aggregate amount is less than $250. Wire transfers of redemption proceeds shall be separate from wire transfers for other purposes; (iii) Each wire transfer of redemption proceeds shall indicate, on the Fed Funds wire system, the amount thereof attributable to each Fund; provided, however, that if the number of entries would be too great to be transmitted through the Fed Funds wire system, Fund Company shall, on the day the wire is sent, notify Schwab of such entries. The cost of the wire transfer is the responsibility of the party sending the wire. The interest cost associated with any delayed wire is the responsibility of the party sending the wire and will be charged at the Federal Funds rate, or if applicable, as set forth in Section 6.e. above for Fund Company; and

Wire Settlement. With respect to settlement outside NSCC’s money settlement process, (i) Schwab will transmit the aggregate purchase price of As to all the purchase Orders for a Fund placed by JPMS on a given trade date for an Account, JPMS will transmit the purchase price to the Fund less any concessions or commissions due JPMS by wire transfer on the appropriate Settlement Date; (ii) Fund Company will cause the Fund(s) As to send to Schwab the aggregate proceeds of all redemption Orders for the Fund(s) a Fund placed by Schwab JPMS on a given trade date in an Account, Fund Company will cause each such Fund to send to the aggregate proceeds of the redemption Orders by wire transfer on the appropriate Settlement Date. Such redemption proceeds will be sent by wire transfer on the Settlement Date for the redemption Orders; provided that Fund Company may, in its discretion, send such proceeds by check if the aggregate amount is less than $250. Wire transfers of redemption proceeds shall be separate from wire transfers for other purposes. In the event that a Fund cannot verify redemption proceeds in an Account, Fund Company agrees to settle trades and forward redemption proceeds in accordance with these Operating Procedures based on information provided by JPMS. Any assessed CDSCs and short-term redemption fees under Section 6.f. shall be remitted to the Fund on a no less than monthly basis in a manner mutually agreed upon by the parties; (iii) Each wire transfer of redemption proceeds shall indicate, on the Fed Funds wire system, the amount thereof attributable to each Fund; provided, however, that if the number of entries would be too great to be transmitted through the Fed Funds wire system, Fund Company shall, on the day the wire is sent, notify Schwab JPMS of such entries. ; and (iv) The cost of the wire transfer is the responsibility of the party sending the wire. The interest cost associated with any delayed wire is the responsibility of the party sending the wire and will be charged at the Federal Funds “opened” rate, or if applicable, as set forth in Section 6.e. above for Fund Company; and.

Wire Settlement. With respect to settlement outside NSCC’s money settlement process, (i) Schwab will transmit the aggregate purchase price of all the purchase Orders for a given trade date to the Fund by wire transfer on the appropriate Settlement Date; (ii) Fund Company will cause the Fund(s) to send to Schwab the aggregate proceeds of all redemption Orders for the Fund(s) placed by Schwab on a given trade date on the appropriate Settlement Date. Such redemption proceeds will be sent by wire transfer on the Settlement Date for the redemption Orders; provided that Fund Company may, in its discretion, send such proceeds by check if the aggregate amount is less than $250. Wire transfers of redemption proceeds shall be separate from wire transfers for other purposes; (iii) Each wire transfer of redemption proceeds shall indicate, on the Fed Funds wire system, the amount thereof attributable to each Fund; provided, however, that if the number of entries would be too great to be transmitted through the Fed Funds wire system, Fund Company shall, on the day the wire is sent, notify Schwab of such entries. The cost of the wire transfer is the responsibility of the party sending the wire. The interest cost associated with any delayed wire is the responsibility of the party sending the wire and will be charged at the Federal Funds rate, or if applicable, as set forth in Section 6.e. above below for Fund Company; and

Wire Settlement. With respect to settlement outside NSCC’s 's money settlement process, (i) Schwab will transmit the aggregate purchase price of all the purchase Orders for a given trade date to the Fund by wire transfer on the appropriate Settlement Date; (ii) Fund Company will cause the Fund(s) to send to Schwab the aggregate proceeds of all redemption Orders for the Fund(s) placed by Schwab on a given trade date on the appropriate Settlement Date. Such redemption proceeds will be sent by wire transfer on the Settlement Date for the redemption Orders; provided that Fund Company may, in its discretion, send such proceeds by check if the aggregate amount is less than $250. Wire transfers of redemption proceeds shall be separate from wire transfers for other purposes; (iii) Each wire transfer of redemption proceeds shall indicate, on the Fed Funds wire system, the amount thereof attributable to each Fund; provided, however, that if the number of entries would be too great to be transmitted through the Fed Funds wire system, Fund Company shall, on the day the wire is sent, notify Schwab of such entries. The cost of the wire transfer is the responsibility of the party sending the wire. The interest cost associated with any delayed wire is the responsibility of the party sending the wire and will be charged at the Federal Funds rate, or if applicable, as set forth in Section 6.e. above for Fund Company; and

Wire Settlement. With respect to settlement outside NSCC’s money settlement process, (i) Schwab will transmit the aggregate purchase price of As to all the purchase Orders for a Fund placed by JPMS on a given trade date for an Account, JPMS will transmit the purchase price to the Fund less any concessions or commissions due JPMS by wire transfer on the appropriate Settlement Date; (ii) Fund Company will cause the Fund(s) As to send to Schwab the aggregate proceeds of all redemption Orders for the Fund(s) a Fund placed by Schwab JPMS on a given trade date in an Account, Fund Company will cause each such Fund to send to the aggregate proceeds of the redemption Orders by wire transfer on the appropriate Settlement Date. Such redemption proceeds will be sent by wire transfer on the Settlement Date for the redemption Orders; provided that Fund Company may, in its discretion, send such proceeds by check if the aggregate amount is less than $250. Wire transfers of redemption proceeds shall be separate from wire transfers for other purposes; In the event that a Fund cannot verify redemption proceeds in an Account, Fund Company agrees to settle trades and forward redemption proceeds in accordance with these Operating Procedures based on information provided by JPMS. Any assessed CDSGs and short-term redemption fees under Section 6.f. shall be remitted to the Fund on a no less than monthly basis in a manner mutually agreed upon by the parties; (iii) Each wire transfer of redemption proceeds shall indicate, on the Fed Funds wire system, the amount thereof attributable to each Fund; provided, however, that if the number of entries would be too great to be transmitted through the Fed Funds wire system, Fund Company shall, on the day the wire is sent, notify Schwab JPMS of such entries. , and (iv) The cost of the wire transfer is the responsibility of the party sending the wire. The interest cost associated with any delayed wire is the responsibility of the party sending the wire and will be charged at the Federal Funds “opened” rate, or if applicable, as set forth in Section 6.e. above for Fund Company; and.