Appointment of FMTC as Limited Agent, Acceptance of Orders and Trade Reporting Sample Clauses

Appointment of FMTC as Limited Agent, Acceptance of Orders and Trade Reporting. Fund/Agent appoints FMTC as its agent for the sole and limited purpose of accepting orders for the purchase, exchange, and redemption of shares of the Investment Component in the Fund derived from FIIOC Plan or FIIOC Plan participant instructions (“Orders”) pursuant to these Operational Guidelines. Notwithstanding anything in these Guidelines to the contrary, FMTC shall not act as agent for Fund/Agent in any manner whatsoever, except in accepting such Orders. · FMTC, as agent of Fund/Agent, shall accept Orders prior to the Close of Trading on each Business Day on which there is trade activity in the Fund (“Trade Instructions”) and such Orders shall be treated as having been received by Fund/Agent on such Business Day. (“Trade Date”). · FMTC and Fund/Agent agree that trading of Orders shall occur via the National Securities Clearing Corporation’s (“NSCC”) Defined Contribution Clearance and Settlement Service. National Financial Services (“NFS”) and Fund/Agent have executed and filed the standard agreements required for participating in and trading through the NSCC and Fidelity Brokerage Services LLC, NFS, and Fund/Agent have entered into a Services Agreement and/or have developed trading procedures (“Procedures”) pursuant to which NFS transmits to Fund/Agent orders for the purchase, redemption, or exchange of shares of the Investment Component, as identified in such Services Agreement or Procedures, on behalf of customers of NFS through the NSCC. · Each Business Day following Trade Date (TD + 1), FMTC shall provide to NFS instructions for the net purchase or net redemption of shares of the Investment Component in the Fund based on Orders accepted prior to the Close of Trading on the prior Business Day. NFS shall in turn transmit such instructions to Fund/Agent in accordance with the provisions of the Services Agreement or Procedures and pursuant to each party’s obligations under the rules of membership of the NSCC. Fund/Agent shall effect such instructions at the public offering price of the shares of the Investment Component calculated as of the Close of Trading on the Business Day on which the Order was accepted by FMTC.
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