Await Receipt of Confirmation. Subject to the conditions that (i) a duly completed Redemption Order is received by the Distributor from the Participant on behalf of itself or another redeeming investor by the AMEX Closing Time and (ii) the Participant has transferred or caused to be transferred to the Fund's Transfer Agent the Creation Unit of WEBS being redeemed through the book-entry system of DTC so as to be effective by 4:00 p.m. New York time on a day on which the AMEX is open for business, the Distributor will accept the Redemption Order on behalf of the Fund and the Distributor will inform the Participant that its Redemption Order has been accepted by 6:00 p.m. New York time on the Business Day the Redemption Order is received.
Appears in 3 contracts
Sources: Authorized Participant Agreement (Foreign Fund Inc), Authorized Participant Agreement (Webs Index Fund Inc), Authorized Participant Agreement (Foreign Fund Inc)