NSCC Social Codes Sample Clauses

NSCC Social Codes. The Intermediary agrees that it will enter an appropriate NSCC social code for each Account in a Retail MMF maintained with Vanguard. Vanguard will reject any request to establish an Account in a Retail MMF for which an Institutional NSCC social code has been provided. (1) NSCC Retail social codes shall be used by the Intermediary to designate individual, non-omnibus accounts, trust accounts or accounts of certain retirement plans that meet the eligibility requirements under the Rule. (2) NSCC Retail/Institutional social codes shall be used by the Intermediary to designate omnibus accounts where the Intermediary or Underlying Intermediary, if any, shall be responsible for looking through to the underlying Plans and making the appropriate classification as to their eligibility to invest in Retail MMFs. (3) Accounts with NSCC Institutional social codes shall not be permitted to be maintained in the Retail MMFs. FAS/[COMPANY] DEFINED CONTRIBUTION CLEARANCE & SETTLEMENT AGREEMENT (VVIF ONLY) 0458058