Outside the Trust Clearing Process-Creation Orders Sample Clauses

Outside the Trust Clearing Process-Creation Orders. An order to create Trust Shares outside the Trust Clearing Process shall be Deemed Received by the Distributor on the Transmittal Date only if: (a) the Submission containing such order is in proper form, (b) such Submission is received by the Distributor no later than the time on such Transmittal Date as set forth in Section I(3)(a) hereof, (c) the requisite number of Index Securities is transferred through DTC to the account of the Trustee by no later than 11:00 a.m. on the Business Day next following the Transmittal Date and (d) the cash equal to the Cash Component, if any, is transferred via the Federal Reserve Bank wire system to the account of the Trustee by no later than 1:00 p.m. on the Business Day next following the Transmittal Date. If either the Submission, the requisite Index Securities or the cash equal to the Cash Component is not received by the Trustee within the time periods set forth above, such order shall be deemed invalid.
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Outside the Trust Clearing Process-Creation Orders. The Distributor shall issue to both the DTC Participant and the Trustee an acknowledgment of receipt of an order to create Trust Shares in Creation Unit size aggregations outside the Trust Clearing Process within 15 minutes of its receipt of a Submission received in good form. In the event the DTC Participant does not receive a timely acknowledgment from the Distributor, it should contact the Distributor and the Trust Telephone Representative at the business numbers indicated.
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Outside the Trust Clearing Process-Creation Orders. After the Trustee has received notification of a Submission from the Distributor for a creation order for Trust Shares outside the Trust Clearing Process which has been Deemed Received by the Distributor as set forth below in Section IV, the Trustee shall initiate procedures to transfer the requisite Trust Shares through DTC and the DTC Participants and the Cash Component, if any, through the Federal Reserve Bank wire system so as to be received by the creator no later than on the third (3rd) Business Day following the Business Day on which the Submission is Deemed Received by the Distributor.
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Outside the Trust Clearing Process-Creation Orders. The DTC Participant notified of acknowledgment of an order to create Trust Shares outside the Trust Clearing Process shall be required to effect a transfer to the Trustee of (a) the requisite Index Securities through DTC so as to be received by the Trustee no later than 11:00 a.m. on the next Business Day immediately following the Business Day on which such order is Deemed Received by the Distributor as set forth below in Section IV, in such a way as to replicate the Portfolio Deposit established on the Transmittal Date by the Trustee and (b) the Cash Component, if any, through the Federal Reserve Bank wire system so as to be received by the Trustee by 1:00 p.m. on the next Business Day immediately following the day such order is Deemed Received. If the Trustee does not receive the Index Securities by 11:00 a.m. and the Cash Component, if any, by 1:00 p.m. on the Business Day immediately following the day such order is Deemed Received, the creation order contained in such Submission shall be canceled. Upon written notice to the Distributor and the Trust Telephone Representative, the DTC Participant may resubmit such canceled order on the following Business Day using a Portfolio Deposit as newly constituted.
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Related to Outside the Trust Clearing Process-Creation Orders

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  • Creation Orders After the Transfer Agent has received notification of a Submission from the Participant for a creation order for Shares which has been Deemed Received by the Transfer Agent as set forth below in Section IV, the Transfer Agent shall initiate procedures to transfer the requisite Shares through DTC and the DTC Participant and the Cash Component, if any, through the Federal Reserve Bank wire system so as to be received by the creator no later than on the third (3rd) Business Day following the Business Day on which the Submission is Deemed Received by the Transfer Agent.

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