Transmission and Settlement of Orders. Orders for net purchases and/or net redemptions received by the Company prior to the Close of Trading on any given Business Day shall be transmitted to the Distributor or its designee via the NSCC by the latest cycle permitted by NSCC for the Defined Contribution Clearance & Settlement service (“DCC&S”) on the next Business Day. Instructions received in proper form by the Company after the Close of Trading on any given Business Day shall be treated as if received on the next following Business Day. The Company and the Distributor shall settle net purchase and redemption transactions pursuant to, and in accordance with, NSCC rules and procedures.
Appears in 16 contracts
Samples: Fund Participation Agreement (Massachusetts Mutual Variable Annuity Separate Account 4), Fund Participation Agreement (MEMBERS Horizon Variable Separate Account), Fund Participation Agreement (Lincoln Life Variable Annuity Account N)
