Common use of Await Receipt of Confirmation Clause in Contracts

Await Receipt of Confirmation. (a) In the Case of Purchases through the CB Shares Clearing Process. The Participant shall transfer or arrange for the transfer of the requisite Fund Basket of securities for the US Index Series and the Cash Component to State Street Bank by means of the CB Shares Clearing Process so as to be received no later than on the Regular Way settlement date following the Business Day on which the Purchase Order is received by the Distributor. The Distributor shall issue to both the Participant and State Street Bank an acknowledgment of receipt of a Purchase Order for CB Shares of the US Index Series through the CB Shares Clearing Process within one (1) hour of its receipt of a Purchase Order in proper form as described above. In the event the Participant does not receive a timely acknowledgment from the Distributor, it should contact the CB Shares telephone representative at the telephone number indicated. After the Distributor has received a duly completed Purchase Order for CB Shares of the US Index Series, State Street Bank shall initiate procedures to transfer the requisite CB Shares through the CB Shares Clearing Process so as to be received by the Participant no later than on the Regular Way settlement date following the Business Day on which the duly completed Purchase Order is received by the Distributor.