Common use of Await Receipt of Confirmation Clause in Contracts

Await Receipt of Confirmation. Subject to the conditions that (i) a properly completed irrevocable Purchase Order has been submitted by the Participant (either on its own or another investor's behalf) not later than the AMEX Closing Time, and (ii) arrangements satisfactory to the Fund are in place for payment of the Cash Component and any other cash amounts which may be due, the Distributor will accept the Purchase Order on behalf of the Fund and the Distributor will inform the Participant that its Purchase Order has been accepted by 6:00 p.m. New York time on the Business Day the Purchase Order is received. In the event that the Participant does not receive a timely confirmation from the Distributor, the Participant should contact the WEBS telephone representative at the telephone number indicated.