Common use of PURCHASE ORDERS AND REDEMPTION ORDERS Clause in Contracts

PURCHASE ORDERS AND REDEMPTION ORDERS. This A▇▇▇▇ ▇▇ to the Authorized Participant Agreement supplements the Prospectus with respect to the procedures to be used in processing (1) a Purchase Order for the purchase of Shares of New York Life Investments Active ETF Trust and New York Life Investments ETF Trust (each a “Trust”) in Creation Units of each Fund issued by each Trust and (2) a Redemption Order for the redemption of Shares of each Fund in Creation Units of each Fund. Capitalized terms, unless otherwise defined in this A▇▇▇▇ ▇▇, have the meanings attributed to them in the Authorized Participant Agreement or the Prospectus. An Authorized Participant is required to have signed the Authorized Participant Agreement. Upon acceptance of the Agreement and execution thereof by the Company and in connection with the initial Purchase Order submitted by the Authorized Participant, the Transfer Agent will assign a PIN to each Authorized Person authorized to act for an Authorized Participant. This will allow an Authorized Participant through its Authorized Person(s) to place a Purchase Order or Redemption Order with respect to the purchase or redemption of Creation Units of Shares of each Fund.