Common use of Pricing Errors Clause in Contracts

Pricing Errors. In the event of an error in the computation of a VVIF Portfolio’s net asset value per share which, in accordance with procedures adopted by the Fund’s Board of Trustees consistent with views expressed by the SEC regarding appropriate error correction standards, as shall be in effect or amended from time to time, requires adjustment to Orders previously effected on behalf of an Account (a “Pricing Error”), Vanguard shall notify the Agent as soon as possible after discovery of the Pricing Error. Such notification may be oral, but shall be confirmed promptly in writing. In such event, Vanguard shall reimburse the affected VVIF Portfolio for any loss (without taking into consideration any positive effect of such Pricing Error) and shall make appropriate adjustments to the Agent’s accounts, which adjustments shall net the impact of individual Policy owner gains and losses; this will result in either a net payment to the Agent from Vanguard (in the event of net Policy owner losses) or from the Agent to Vanguard (in the event of net Policy owner gains). In addition, in the event that the Pricing Error causes the Agent to incur any direct costs for re-processing Policy owner accounts, such as preparing and mailing revised statements, Vanguard shall reimburse the Agent for all such reasonable costs upon receipt from the Agent of an invoice or other statement documenting such costs in reasonable detail.

Pricing Errors. In the event of an error in the computation of a VVIF PortfolioVanguard Fund’s net asset value per share which, in accordance with procedures adopted by the Fund’s Board of Trustees consistent with views expressed by the SEC regarding appropriate error correction standards, as shall be in effect or amended from time to time, requires adjustment to Orders previously effected on behalf of an Account a Plan (a “Pricing Error”), Vanguard shall notify the Agent as soon as possible after discovery of the Pricing Error. Such notification may be oral, but shall be confirmed promptly in writing. In such event, Vanguard shall reimburse the affected VVIF Portfolio Vanguard Fund for any loss (without taking into consideration any positive effect of such Pricing Error) and shall make appropriate adjustments to the Agent’s accounts, which adjustments shall net the impact of individual Policy owner Plan participant gains and losses; this will result in either a net payment to the Agent from Vanguard (in the event of net Policy owner Plan participant losses) or from the Agent to Vanguard (in the event of net Policy owner Plan participant gains). In addition, in the event that the Pricing Error causes the Agent to incur any direct costs for re-processing Policy owner accountsparticipant accounts under a Plan, such as preparing and mailing revised statements, Vanguard shall reimburse the Agent for all such reasonable costs upon receipt from the Agent of an invoice or other statement documenting such costs in reasonable detail.

Pricing Errors. In the event of an error in the computation of a VVIF Portfolio’s 's net asset value per share which, in accordance with procedures adopted by the Fund’s 's Board of Trustees consistent with views expressed by the SEC regarding appropriate error correction standards, as shall be in effect or amended from time to time, requires adjustment to Orders previously effected on behalf of an Account (a “"Pricing Error”"), Vanguard shall notify the Agent Intermediary as soon as possible after discovery of the Pricing Error. Such notification may be oral, but shall be confirmed promptly in writing. In such event, Vanguard shall reimburse the affected VVIF Portfolio for any loss (without taking into consideration any positive effect of such Pricing Error) and shall make appropriate adjustments to the AgentIntermediary’s accounts, which adjustments shall net the impact of individual Policy owner gains and losses; this will result in either a net payment to the Agent Intermediary from Vanguard (in the event of net Policy owner losses) or from the Agent Intermediary to Vanguard (in the event of net Policy owner gains). In addition, in the event that the Pricing Error causes the Agent Intermediary to incur any direct costs for re-processing Policy owner accounts, such as preparing and mailing revised statements, Vanguard shall reimburse the Agent Intermediary for all such reasonable costs upon receipt from the Agent Intermediary of an invoice or other statement documenting such costs in reasonable detail.

Pricing Errors. In the event of an error in the computation of a VVIF PortfolioVanguard Fund’s net asset value per share which, in accordance with procedures adopted by the Fund’s Board of Trustees consistent with views expressed by the SEC regarding appropriate error correction standards, as shall be in effect or amended from time to time, requires adjustment to Orders previously effected on behalf of an Account (a “Pricing Error”), Vanguard shall notify the Agent Intermediary as soon as possible after discovery of the Pricing Error. Such notification may be oral, but shall be confirmed promptly in writing. In such event, Vanguard shall reimburse the affected VVIF Portfolio Vanguard Fund for any loss (without taking into consideration any positive effect of such Pricing Error) and shall make appropriate adjustments to the AgentIntermediary’s accounts, which adjustments shall net the impact of individual Policy owner gains and losses; this will result in either a net payment to the Agent Intermediary from Vanguard (in the event of net Policy owner losses) or from the Agent Intermediary to Vanguard (in the event of net Policy owner gains). In addition, in the event that the Pricing Error causes the Agent Intermediary to incur any direct costs for re-processing Policy owner accounts, such as preparing and mailing revised statements, Vanguard shall reimburse the Agent Intermediary for all such reasonable costs upon receipt from the Agent Intermediary of an invoice or other statement documenting such costs in reasonable detail.

Pricing Errors. In the event of an error in the computation of a VVIF Portfolio’s net asset value per share which, in accordance with procedures adopted by the Fund’s Board of Trustees consistent with views expressed by the SEC regarding appropriate error correction standards, as shall be in effect or amended from time to time, requires adjustment to Orders previously effected on behalf of an Account (a “Pricing Error”), Vanguard shall notify the Agent Intermediary as soon as possible after discovery of the Pricing Error. Such notification may be oral, but shall be confirmed promptly in writing. In such event, Vanguard shall reimburse the affected VVIF Portfolio for any loss (without taking into consideration any positive effect of such Pricing Error) and shall make appropriate adjustments to the AgentIntermediary’s accounts, which adjustments shall net the impact of individual Policy owner gains and losses; this will result in either a net payment to the Agent Intermediary from Vanguard (in the event of net Policy owner losses) or from the Agent Intermediary to Vanguard (in the event of net Policy owner gains). In addition, in the event that the Pricing Error causes the Agent Intermediary to incur any direct costs for re-processing Policy owner accounts, such as preparing and mailing revised statements, Vanguard shall reimburse the Agent Intermediary for all such reasonable costs upon receipt from the Agent Intermediary of an invoice or other statement documenting such costs in reasonable detail.