Common use of Wiring of Funds Clause in Contracts

Wiring of Funds. In the case of a net purchase order, the Company shall remit to LFSI the exact amount of requisite funds to cover such order by Federal Funds wire by 4:00 p.m. Eastern Time on the Business Day on which the transmission containing the net purchase order is transmitted to LFSI or, if such day is not a Business Day, on the next Business Day (the "Settlement Date"). If the Company becomes aware that LFSI may not receive, prior to the Market Close on the Settlement Date, a wire transfer relating to a net purchase order, the Company shall promptly inform LFSI of the facts and circumstances thereof and shall cooperate with LFSI with the goal of LFSI receiving such purchase proceeds as soon as reasonably possible. Notwithstanding the immediately preceding sentence, if a wire transfer relating to an aggregate purchase order is not received by LFSI prior to Market Close on the appropriate Settlement Date, LFSI reserves the right to (i) charge the Company interest on the amount of the delayed wire as provided below or (ii) redeem the shares for which payment has not been received on any Business Day subsequent to the appropriate Settlement Date if (A) LFSI has further notified the Company by no later than 12:00 noon Eastern Time on the Business Day following the Settlement Date that LFSI still has not received the delayed wire transfer relating to the net purchase order and (B) LFSI still has not received the delayed wire by one hour prior to Market Close on such subsequent Business Day. In the case of a net redemption order, LFSI shall remit or cause to be remitted to the Company the exact amount of requisite funds to cover such order by Federal Funds wire sent by LFSI by 4:00 p.m. Eastern Time on the Business Day that the transmission containing the net redemption order is received by LFSI or, if such day is not a Business Day, on the next Business Day; provided, however, that in the event that the Company's account in a Fund is redeemed in full such that it will have a zero balance on such Business Day, LFSI reserves the right to wire, or to cause to be wired, the redemption proceeds within the time frame set forth in the applicable Fund prospectus. If LFSI becomes aware that the Company may not receive the wire transfer relating to a net redemption order by 4:00 p.m. Eastern Time on the appropriate date, LFSI shall promptly inform the Company of the facts and circumstances thereof and shall cooperate with the Company with the goal of the Company receiving such proceeds as soon as reasonably possible. If such wire transfer is not received by the Company on the appropriate date, LFSI shall pay the Company interest on the amount of the delayed wire as provided below. In the event that a wire is delayed, the interest owed shall be deemed to be the interest cost on the delayed funds until paid, charged at the Federal Funds "offered" rate as published by The Wall Street Journal.

Wiring of Funds. In the case of a net purchase order, the Company shall remit to LFSI AGIS the exact amount of requisite funds to cover such order by Federal Funds wire by 4:00 p.m. Eastern Time on the Business Day on which the transmission containing the net purchase order is transmitted to LFSI Alliance Funds or, if such day is not a Business Day, on the next Business Day (the "Settlement Date"). If the Company becomes aware that LFSI AGIS may not receive, prior to the Market Close on the Settlement Date, a wire transfer relating to a net purchase order, the Company shall promptly inform LFSI AGIS of the facts and circumstances thereof and shall cooperate with LFSI AGIS with the goal of LFSI AGIS receiving such purchase proceeds as soon as reasonably possible. Notwithstanding the immediately preceding sentence, if a wire transfer relating to an aggregate purchase order is not received by LFSI AGIS prior to Market Close on the appropriate Settlement Date, LFSI AGIS reserves the right to (i) charge the Company interest on the amount of the delayed wire as provided below or (ii) redeem the shares for which payment has not been received on any Business Day subsequent to the appropriate Settlement Date if (A) LFSI AGIS has further notified the Company by no later than 12:00 noon Eastern Time on the Business Day following the Settlement Date that LFSI AGIS still has not received the delayed wire transfer relating to the net purchase order and (B) LFSI AGIS still has not received the delayed wire by one hour prior to Market Close on such subsequent Business Day. In the case of a net redemption order, LFSI AGIS shall remit or cause to be remitted to the Company the exact amount of requisite funds to cover such order by Federal Funds wire sent by LFSI Alliance Funds by 4:00 p.m. Eastern Time on the Business Day that the transmission containing the net redemption order is received by LFSI AGIS or, if such day is not a Business Day, on the next Business Day; provided, however, that in the event that the Company's account in a Fund is redeemed in full such that it will have a zero balance on such Business Day, LFSI AGIS reserves the right to wire, or to cause to be wired, the redemption proceeds within the time frame set forth in the applicable Fund prospectus. If LFSI AGIS becomes aware that the Company may not receive the wire transfer relating to a net redemption order by 4:00 p.m. Eastern Time on the appropriate date, LFSI AGIS shall promptly inform the Company of the facts and circumstances thereof and shall cooperate with the Company with the goal of the Company receiving such proceeds as soon as reasonably possible. If such wire transfer is not received by the Company on the appropriate date, LFSI AGIS shall pay the Company interest on the amount of the delayed wire as provided below. In the event that a wire is delayed, the interest owed shall be deemed to be the interest cost on the delayed funds until paid, charged at the Federal Funds "offered" rate as published by The Wall Street Journal.

Wiring of Funds. In the case of a net purchase order, the Company shall remit to LFSI the Transfer Agent the exact amount of requisite funds to cover such order by Federal Funds Fund wire by 4:00 p.m. Eastern Time on the Business Day on which the transmission containing the net purchase order is transmitted to LFSI the Transfer Agent or, if such day is not a Business Day, on the next Business Day (the "Settlement Date"). If the Company becomes aware that LFSI the Transfer Agent may not receive, prior to the Market Close on the Settlement Date, a wire transfer relating to a net purchase order, the Company shall promptly inform LFSI the Transfer Agent of the facts and circumstances thereof and shall cooperate with LFSI the Transfer Agent with the goal of LFSI the Transfer Agent receiving such purchase proceeds as soon as reasonably possible. Notwithstanding the immediately preceding sentence, if a wire transfer relating to an aggregate purchase order is not received by LFSI the Transfer Agent prior to Market Close on the appropriate Settlement Date, LFSI the Transfer Agent reserves the right to (i) charge the Company interest on the amount of the delayed wire as provided below or (ii) to: redeem the shares for which payment has not been received on any Business Day subsequent to the appropriate Settlement Date if (A) LFSI the Transfer Agent has further notified the Company by no later than 12:00 noon Eastern Time on the Business Day following the Settlement Date that LFSI the Transfer Agent still has not received the delayed wire transfer relating to the net purchase order and (B) LFSI the Transfer Agent still has not received the delayed wire by one hour prior to Market Close on such subsequent Business Day. In the case of a net redemption order, LFSI the Transfer Agent shall initiate instructions with sufficient time to enable the sending bank to remit or cause to be remitted to the Company the exact amount of requisite funds to cover such order by Federal Funds Fund wire sent by LFSI the Transfer Agent by 4:00 p.m. Eastern Time on the Business Day that the transmission containing the net redemption order is received by LFSI the Transfer Agent or, if such day is not a Business Day, on the next Business Day; provided, however, that in the event that the Company's account in a Fund is redeemed in full such that it will have a zero balance on such Business Day, LFSI the Transfer Agent reserves the right to wire, or to cause to be wired, the redemption proceeds within the time frame set forth in the applicable Fund prospectus. If LFSI the Transfer Agent becomes aware that the Company may not receive the wire transfer relating to a net redemption order by 4:00 p.m. Eastern Time on the appropriate date, LFSI the Transfer Agent shall promptly inform the Company of the facts and circumstances thereof and shall cooperate with the Company with the goal of the Company receiving such proceeds as soon as reasonably possible. If such wire transfer is not received by the Company on the appropriate date, LFSI shall pay the Company interest on the amount of the delayed wire as provided below. In the event that a wire is delayed, the interest owed shall be deemed to be the interest cost on the delayed funds until paid, charged at the Federal Funds "offered" rate as published by The Wall Street Journal.

Wiring of Funds. In the case of a net purchase order, the Company shall remit to LFSI Vanguard the exact amount of requisite funds to cover such order by Federal Funds wire by 4:00 p.m. Eastern Time on the Business Day on which the transmission containing the net purchase order is transmitted to LFSI Vanguard or, if such day is not a Business Day, on the next Business Day (the "Settlement Date"). If the Company becomes aware that LFSI Vanguard may not receive, prior to the Market Close on the Settlement Date, a wire transfer relating to a net purchase order, the Company shall promptly inform LFSI Vanguard of the facts and circumstances thereof and shall cooperate with LFSI Vanguard with the goal of LFSI Vanguard receiving such purchase proceeds as soon as reasonably possible. Notwithstanding the immediately preceding sentence, if a wire transfer relating to an aggregate purchase order is not received by LFSI Vanguard prior to Market Close on the appropriate Settlement Date, LFSI Vanguard reserves the right to (i) charge the Company interest on the amount of the delayed wire as provided below or (ii) redeem the shares for which payment has not been received on any Business Day subsequent to the appropriate Settlement Date if (A) LFSI Vanguard has further notified the Company by no later than 12:00 noon Eastern Time on the Business Day following the Settlement Date that LFSI Vanguard still has not received the delayed wire transfer relating to the net purchase order and (B) LFSI Vanguard still has not received the delayed wire by one hour prior to Market Close on such subsequent Business Day. In the case of a net redemption order, LFSI Vanguard shall remit or cause to be remitted to the Company the exact amount of requisite funds to cover such order by Federal Funds wire sent by LFSI Vanguard by 4:00 p.m. Eastern Time on the Business Day that the transmission containing the net redemption order is received by LFSI Vanguard or, if such day is not a Business Day, on the next Business Day; provided, however, that in the event that the Company's account in a Fund is redeemed in full such that it will have a zero balance on such Business Day, LFSI Vanguard reserves the right to wire, or to cause to be wired, the redemption proceeds within the time frame set forth in the applicable Fund prospectus. If LFSI Vanguard becomes aware that the Company may not receive the wire transfer relating to a net redemption order by 4:00 p.m. Eastern Time on the appropriate date, LFSI Vanguard shall promptly inform the Company of the facts and circumstances thereof and shall cooperate with the Company with the goal of the Company receiving such proceeds as soon as reasonably possible. If such wire transfer is not received by the Company on the appropriate date, LFSI Vanguard shall pay the Company interest on the amount of the delayed wire as provided below. In the event that a wire is delayed, the interest owed shall be deemed to be the interest cost on the delayed funds until paid, charged at the Federal Funds "offered" rate as published by The Wall Street Journal.

Wiring of Funds. In the case of a net purchase order, the Company shall remit or cause to LFSI be remitted to Vanguard the exact amount of requisite funds to cover such order by Federal Funds wire by 4:00 p.m. Eastern Time on the next Business Day on which the transmission containing after the net purchase order is transmitted to LFSI or, if such day is not a Business Day, on received by the next Business Day Company in accordance with the provisions of Sections 3(b) and (d) hereof (the "Settlement Date"). If the Company becomes aware that LFSI may not receive, prior to the Market Close on the Settlement Date, a wire transfer relating to a net purchase order, the Company shall promptly inform LFSI of the facts and circumstances thereof and shall cooperate with LFSI with the goal of LFSI receiving such purchase proceeds as soon as reasonably possible. Notwithstanding the immediately preceding sentence, if a wire transfer relating to an aggregate purchase order is not received by LFSI Vanguard prior to Market Close on the appropriate Settlement Date, LFSI Vanguard reserves the right to (i) charge the Company interest on the amount of the delayed wire as provided below or (ii) redeem the shares for which payment has not been received on any Business Day subsequent to the appropriate Settlement Date if (A) LFSI has further notified the Company by no later than 12:00 noon Eastern Time on the Business Day following the Settlement Date that LFSI still has not received the delayed wire transfer relating to the net purchase order and (B) LFSI still has not received the delayed wire by one hour prior to Market Close on such subsequent Business Dayreceived. In the case of a net redemption order, LFSI Vanguard shall remit or cause to be remitted to the Company or its designee the exact amount of requisite funds to cover such order by Federal Funds wire sent by LFSI Vanguard by 4:00 p.m. Eastern Time on the next Business Day that the transmission containing after the net redemption order is received by LFSI or, if such day is not a Business Day, on the next Business DayCompany in accordance with the provisions of Sections 3(b) and (d) hereof; provided, however, that in the event that the CompanyPlan's account in a Fund is redeemed in full such that it will have a zero balance on such Business Day, LFSI Vanguard reserves the right to wire, or to cause to be wired, the redemption proceeds within the time frame set forth in the applicable Fund prospectus. If LFSI becomes aware that the Company may not receive the wire transfer relating to a net redemption order by 4:00 p.m. Eastern Time on the appropriate date, LFSI shall promptly inform the Company of the facts and circumstances thereof and shall cooperate with the Company with the goal of the Company receiving such proceeds as soon as reasonably possible. If such wire transfer is are not received by the Company or its designee by Market Close on the appropriate dateSettlement Date, LFSI Vanguard shall pay the Company or its designee interest on the amount of the delayed wire as provided below. In the event that a wire is delayed, the interest owed shall be deemed to be the interest cost on the delayed funds until paid, charged at the Federal Funds "offered" rate as published by The Wall Street Journal.