PURCHASE OF CREATION UNITS Sample Clauses

The "Purchase of Creation Units" clause defines the process and requirements for authorized participants to buy large blocks of shares, known as creation units, directly from an exchange-traded fund (ETF). Typically, this involves submitting an order to the fund sponsor and delivering a specified basket of securities or cash equivalent in exchange for the creation units. This mechanism ensures that the ETF can efficiently manage share supply and demand, maintain liquidity, and keep the fund's market price closely aligned with its net asset value.
PURCHASE OF CREATION UNITS. The Trust will offer, issue and sell Shares only in Creation Unit Aggregations of a specified number of Shares (50,000), or such other amount of Shares as designated in the relevant Fund’s Prospectus, through Administrator on a continuous basis, without a sales load, at their price per share determined in accordance with the definition of Application Amount in paragraph 8 of Attachment B.
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PURCHASE OF CREATION UNITS. The Trust will offer, issue and sell Ultra and UltraShort ProShares only in Creation Unit Aggregations of a specified number of Shares (50,000), or such other amount of Shares as designated in the relevant Fund’s Prospectus, through SEI on a continuous basis, without a sales load, at their NAV per Share next determined after receipt of a Purchase Order on any Business Day.
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PURCHASE OF CREATION UNITS. The Trust will offer, issue and sell Ultra and UltraShort ProShares only in Creation Unit Aggregations of a specified number of Shares (50,000), or such other amount of Shares as designated in the relevant Fund’s Prospectus, through SEI on a continuous basis, without a sales load, at their NAV per Share next determined after receipt of a Purchase Order on any Business Day. Cash Deposits Creation Units for each Fund will be exchanged only for cash. Creation Units are sold at their NAV, plus a transaction fee. Eligibility To be eligible to place a Purchase Order with SEI, an AP must be a DTC Participant. Cut-Off Time for Purchase Orders SEI must receive all Purchase Orders to purchase Creation Unit Aggregations no later than the times listed below (or such earlier times if so designated). APs should reference the password-protected ProShares Trust II website for cut-off exceptions. Fund Cut-off Time Ultra DJ-AIG Commodity ProShares UltraShort DJ-AIG Commodity ProShares 10:45 A.M. (Eastern time) Ultra DJ-AIG Agriculture ProShares UltraShort DJ-AIG Agriculture ProShares 12:30 P.M. (Eastern time) Ultra DJ-AIG Crude Oil ProShares UltraShort DJ-AIG Crude Oil ProShares 1:30 P.M. (Eastern time) Ultra Gold ProShares UltraShort Gold ProShares 9:00 A.M. (Eastern time) Ultra Silver ProShares UltraShort Silver ProShares 6:00 A.M. (Eastern time) Ultra Euro ProShares UltraShort Euro ProShares Ultra Japanese Yen ProShares UltraShort Japanese Yen ProShares 3:00 P.M. (Eastern time) If Purchase Orders are received by a Fund’s identified Cut-off Time and are accepted by SEI, the Purchase Order will be processed based on the NAV of the Fund as next determined. The date on which a Purchase Order to purchase Creation Unit Aggregations is placed is referred to as the “Transmittal Date.” An AP placing orders for Creation Unit Aggregations of the Funds should afford sufficient time to permit proper submission of the order to SEI prior to the identified Cut-off Time on the Transmittal Date. Purchase Orders received after the Cut-off Time will be processed the next Business Day. Transmittal of Purchase Orders Purchase Orders may be transmitted by an AP to SEI via telephone, facsimile or the internet By telephone: (▇▇▇) ▇▇▇-▇▇▇▇ By facsimile: [ ] By internet: [ ] Economic or market disruptions, or telephone or other communication failure may impede the ability to reach SEI or an AP. Delivery of Cash Cash must be transferred directly to ▇▇▇▇▇ Brothers ▇▇▇▇▇▇▇▇ & Co., the Custodian, thro...
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PURCHASE OF CREATION UNITS. The Funds will offer, issue and sell Shares only in Creation Unit Aggregations of a specified number of Shares, or such other amount of Shares as designated in the relevant Fund’s Prospectus, through SEI on a continuous basis, without a sales load, at their NAV per Share next determined after receipt of a Purchase Order in proper form on any Business Day. Creation Units are sold at their NAV, plus a transaction fee (if applicable).
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Related to PURCHASE OF CREATION UNITS

  • Purchase of Units On the basis of the representations and warranties herein contained, but subject to the terms and conditions herein set forth, the Company agrees to issue and sell to the several Underwriters, severally and not jointly, an aggregate of 20,000,000 units of the Company (the “Firm Units”) at a purchase price (net of discounts and commissions) of $9.80

  • Purchase of Notes and Warrants On the Closing Date (as defined below), the Company shall issue and sell to each Buyer and each Buyer severally agrees to purchase from the Company such principal amount of Notes and number of Warrants as is set forth immediately below such Buyer's name on the signature pages hereto.

  • Purchase and Issuance of the Units For the aggregate sum of $3,000,000 (the “Initial Purchase Price”), upon the terms and subject to the conditions of this Agreement, the Purchaser hereby agrees to purchase from the Company, and the Company hereby agrees to sell to the Purchaser, on the Closing Date (as defined in Section 1.2) 300,000 Initial Units at $10.00 per Initial Unit. In addition to the foregoing, the Purchaser hereby agrees to purchase up to an additional 30,000 Additional Units at $10.00 per Additional Unit for a purchase price of up to $300,000 (the “Additional Purchase Price” and together with the Initial Purchase Price, the “Purchase Price”). The purchase and issuance of the Additional Units shall occur only in the event that the Over-Allotment Option is exercised in full or part. The total number of Additional Units to be purchased hereunder shall be in the same proportion as the amount of the Over-Allotment Option that is exercised. Each purchase of Additional Units shall occur simultaneously with the consummation of any portion of the Over-Allotment Option.

  • SALE/PURCHASE OF INITIAL LOANS (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Initial Purchase Agreement to be dated as of the Closing Date shall be consummated upon (i) Funding’s receipt from VL Funding and the VL Funding Eligible Lender Trustee for the benefit of VL Funding of the Initial ▇▇▇▇ of Sale and (ii) the payment by Funding to VL Funding of the Initial Payment. Upon consummation, such sale and purchase shall be effective as of the date of the Initial ▇▇▇▇ of Sale. VL Funding and Funding shall use their best efforts to perform promptly their respective obligations pursuant to the Initial Purchase Agreement with respect to each Initial Loan. (B) Settlement of the Initial Payment On the date of the Initial ▇▇▇▇ of Sale, Funding shall pay to VL Funding the Initial Payment by wire transfer of immediately available funds to the account specified by VL Funding. (C) Interest Subsidy and Special Allowance Payments and Rebate Fees VL Funding shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on each Initial Loan accruing up to but not including the Initial Cutoff Date and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing up to but not including the Initial Cutoff Date. The Interim Eligible Lender Trustee on behalf of Funding shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Initial Loans accruing from the Initial Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to the Initial Loans accruing from the Initial Cutoff Date.

  • Option Units The Representative is hereby granted an option (the “Over-allotment Option”) to purchase up to an additional 1,500,000 units (the “Option Units”), the gross proceeds of which will be deposited in the Trust Account, for the purposes of covering any over-allotments in connection with the distribution and sale of the Firm Units. Such Option Units shall be identical in all respects to the Firm Units. Such Option Units shall be purchased for each account of the several Underwriters in the same proportion as the number of Firm Units, set forth opposite such Underwriter’s name on Schedule A hereto, bears to the total number of Firm Units (subject to adjustment by the Representative to eliminate fractions). The Firm Units and the Option Units are hereinafter collectively referred to as the “Units,” and the Units, the shares of Common Stock and Warrants included in the Units, and the shares of Common Stock issuable upon exercise of the Warrants are hereinafter referred to collectively as the “Public Securities.” No Option Units shall be sold or delivered unless the Firm Units previously have been, or simultaneously are, sold and delivered. The right to purchase the Option Units, or any portion thereof, may be exercised from time to time and to the extent not previously exercised may be surrendered and terminated at any time upon notice by the Representative to the Company. The purchase price to be paid for each Option Unit will be the same price per Firm Unit set forth in Section 1.1.1 hereof.