Common use of PROCEDURES BY WHICH AN ORDER TO Clause in Contracts

PROCEDURES BY WHICH AN ORDER TO. CREATE OR A REQUEST TO REDEEM SHALL BE “DEEMED RECEIVED.” 1. Trust’s Clearing Process-Creation Orders. An order to create Trust Shares through the Trust’s Clearing Process shall be “Deemed Received” by the Transfer Agent on the Transmittal Date only if (a) the Submission containing such order is in proper form and (b) such Submission is received by the Transfer Agent no later than the time on such Transmittal Date as set forth in Section I(3)(a) hereof. Orders to create Trust Shares contained in Submissions transmitted after such time on a Transmittal Date shall be deemed invalid.

PROCEDURES BY WHICH AN ORDER TO. CREATE OR A REQUEST TO REDEEM SHALL BE “DEEMED RECEIVED.” 1. Trust’s Trust Clearing Process-Creation Orders. An order to create Trust Shares through the Trust’s Trust Clearing Process shall be “Deemed Received” by the Transfer Agent Distributor on the Transmittal Date only if (a) the Submission containing such order is in proper form and (b) such Submission is received by the Transfer Agent Distributor no later than the time on such Transmittal Date as set forth in Section I(3)(a) hereof. Orders to create Trust Shares contained in Submissions transmitted after such time on a Transmittal Date shall be deemed invalid.