Common use of Contingency Procedures Clause in Contracts

Contingency Procedures. In the event a communication, systems or other failure occurs, and the Company is unable to transmit, or Vanguard is unable to receive, purchase or redemption orders through the normal procedures, the Company agrees to comply with the following contingency procedures. (a) If the Company will not be able to submit Account orders to Vanguard via facsimile transmission by 8:30 a.m. Eastern time on T+1, the Company shall notify Vanguard’s Daily Valuation Team of the contingency situation by leaving a voice mail message with appropriate contact information at (▇▇▇) ▇▇▇-▇▇▇▇ not later than 8:00 a.m. Eastern time on T+1, and requesting a return call. (b) When the Sponsor’s Daily Valuation team returns the Company’s call, the Company shall provide the Account orders that cannot be transmitted via facsimile. All such orders shall be aggregated and provided as a net purchase or redemption order by Portfolio. The Company shall also submit such net orders via facsimile to (▇▇▇) ▇▇▇-▇▇▇▇ not later than 12:00 noon, Eastern time, on T+1.