Shares Creations and Issuance of Creation Baskets Sample Clauses

The "Shares; Creations and Issuance of Creation Baskets" clause defines the process by which new shares of a fund or trust are created and issued, typically in large blocks known as creation baskets. This clause outlines the requirements and procedures for authorized participants to submit the necessary assets or cash in exchange for these baskets, which are then divided into individual shares for trading. Its core function is to facilitate the efficient creation and distribution of shares, ensuring liquidity and proper operation of the fund or trust.
Shares Creations and Issuance of Creation Baskets 
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Related to Shares Creations and Issuance of Creation Baskets

  • 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.