Creation Unit definition

Creation Unit means an aggregation of a specified number of Shares as stated in the Prospectus for the applicable Fund.

Creation Unit means an aggregation of a specified number of Fund shares that is purchased and/or redeemed by an Authorized Participant as described in the Fund’s Prospectus and Statement of Additional Information and in accordance with any terms and procedures set forth in the Distributor’s AP Handbook and/or related procedures.

Creation Unit means an aggregation of 10,000 Shares that the Fund issues and redeems on a continuous basis at NAV. Shares will not be issued or redeemed except in Creation Units.

Examples of Creation Unit in a sentence

• The Participant understands that a Creation Unit will not be issued until the requisite Deposit Instruments, the Cash Balancing Amount (including, where applicable, cash in the amount required for a cash purchase) and the Cash Component, including applicable transaction fees, are transferred to the Trust on or before the Contractual Settlement Date for the Order.

• The number of Shares of a Fund constituting a Creation Unit will be stated in the Fund’s Prospectus.

• Proceeds of a redemption of a Creation Unit shall consist of Redemption Instruments and any applicable Cash Balancing Amount, less any applicable Cash Component.

• To effect the purchase of a Creation Unit of a Fund, the Participant agrees to deliver to the Trust, on behalf of the Fund, the Deposit Instruments and/or Cash Component plus any applicable Cash Balancing Amount.

• The Board of Trustees shall have the unrestricted power to determine and change from time to time the number of Shares constituting a Creation Unit of a Series or Class.

More Definitions of Creation Unit

Creation Unit means a large block of a specified number of ETF Shares, as specified in the ETF Series’ prospectus. A Creation Unit is the minimum number of ETF Shares that may be created or redeemed at any one time.

Creation Unit has the meaning set forth in Article III, Section 3;

Creation Unit has the meaning assigned in Section 2.2 hereof.

Creation Unit means a large block of a specified number of Shares, as specified in the Prospectus. A Creation Unit is the minimum number of Shares that may be created or redeemed at any one time.

Creation Unit shall have the meaning set forth in Section 7.4(a) of this Declaration of Trust.

Creation Unit means the minimum number of Shares of a Fund that may be created at any one time, which shall be 50,000 or such greater or lesser number as the Sponsor may determine from time to time for each Fund.

Creation Unit means an aggregation of a specified number of Shares of a Series, as specified in the applicable Prospectus.