In Vegas, I can use custom script to put video clips on the track in exact sequence as their timecode.

Say, if the respective clip starts at 20:54:06:22, then it will be positioned on the timeline to start at such time.

However, I normally use Premiere CS5, not Vegas.

Is there a built-in, or a third-party solution in Premiere CS5 to do the same thing?

Find your clips in the browser window, go to the media start tab or the video in-point tab, as appropriate, and click on the tab to order them, then select the ones you want as a group and drag to timeline... where they will fall in left-to right order.....in the same way you can order by duration, name, etc.

Hi All,
Need more information about placing sequence clips in order according to their source timecode? There were some great suggestions in this thread but if you need more details about customizing the project panel or adding clips to a sequence, please check out the following pages from Adobe Premiere Pro CS5 Help:

Adobe Premiere Pro CS5 * Customizing the Project panel (http://bit.ly/dLC1OR)
Adobe Premiere Pro CS5 * Adding clips to a sequence (http://bit.ly/g0f98R)