RECEIPT OF CONFIRMATION. Subject to the conditions that a properly completed telephone Creation Order has been placed by the Participant not later than the Order Cut-Off Time, the Managing Owner will accept the Creation Order on behalf of the Trust and will confirm in writing to the Participant that its Creation Order has been accepted within 45 minutes after the designated Order Cut-Off Time on the Business Day that the Creation Order is received. Once the Creation Order has been approved by the Managing Owner, the Managing Owner will sign or time-stamp the Creation Order and send that Creation Order to the Transfer Agent.
Appears in 2 contracts
Sources: Authorized Participant Agreement (Market Vectors Commodity Trust), Participant Agreement (STREAM S&P Dynamic Roll Global Commodities Fund)