Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable Fund at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client to pay, on such day, to the applicable Fund an amount in cash equal to the difference.
Appears in 25 contracts
Sources: Distribution Agreement (Select Sector SPDR Trust), Authorized Participant Agreement (EA Series Trust), Authorized Participant Agreement (Valkyrie ETF Trust II)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable Fund at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client beneficial owner(s) of the shares redeemed to pay, on such day, to the applicable Fund Trust an amount in cash equal to the difference.
Appears in 9 contracts
Sources: Participant Agreement (SPDR Trust Series 1), Participant Agreement (Select Sector SPDR Trust), Participant Agreement (Nuveen Exchange Traded Index Trust)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable Fund at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client beneficial owner(s) of the shares redeemed to pay, on such day, to the applicable Fund Trust an amount in cash equal to the difference.
Appears in 7 contracts
Sources: Participant Agreement (Sector SPDR Trust), Participant Agreement (Rydex Etf Trust), Participant Agreement (Rydex Etf Trust)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable Fund at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client to pay, on such day, to the applicable Fund an amount in cash equal to the difference.
Appears in 4 contracts
Sources: Participant Agreement (SPDR Dow Jones Industrial Average Etf Trust), Participant Agreement (SPDR S&p 500 Etf Trust), Participant Agreement (SPDR Dow Jones Industrial Average Etf Trust)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the Creation Units of the applicable Fund redeemed at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client to pay, on such day, to the applicable Fund an amount in cash equal to the difference.
Appears in 1 contract
Sources: Authorized Participant Agreement (Thornburg ETF Trust)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable a Fund at the time of redemption, the Participant agrees to pay, on the same business day Business Day it is notified, or cause the Participant Client to pay, pay on such day, to the applicable Fund an amount in cash equal to the difference.
Appears in 1 contract
Sources: Authorized Participant Agreement (Allspring Exchange-Traded Funds Trust)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities securities and cash (where applicable) the value of which exceeds the net asset value of the Creation Units of the applicable Fund redeemed at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client customer to pay, on such day, to the applicable Fund an amount in cash equal to the difference.
Appears in 1 contract
Sources: Authorized Participant Agreement (MFS Active Exchange Traded Funds Trust)