Common use of PRIOR BENCHMARK Clause in Contracts

PRIOR BENCHMARK. The investment record of the Prior Benchmark for any period will be computed in the same manner as that of the Benchmark; provided, however, that the Prior Bond Index will be substituted for the Bond Index.

Appears in 5 contracts

Sources: Investment Advisory Agreement (Vanguard Variable Insurance Fund), Investment Advisory Agreement (Vanguard Wellesley Income Fund), Investment Advisory Agreement (Vanguard/Wellington Fund Inc)