Common use of Assemble the Submission Clause in Contracts

Assemble the Submission. The Authorized Person submitting an order to create or a request to redeem shall submit such order or request to the Transfer Agent in the following manner: (a) in writing transmitted by (i) facsimile or (ii) telex; (b) through the Transfer Agent’s electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions [as mutually agreed between the Transfer Agent and the Participant from time to time]; or (c) [by telephone to the Trust Representative and the Distributor, as applicable,] each according to the procedures set forth in Section 3 below. The order so transmitted (either in writing, orally or electronic form) is hereinafter referred to as the “Submission,” and the Business Day on which a Submission is made is hereinafter referred to as the “Transmittal Date.” NOTE THAT THE TELEPHONIC METHOD OF SUBMITTING ORDERS OR REQUESTS TO REDEEM IS USED, THE TELEPHONE CALL IN WHICH THE SUBMISSION NUMBER IS ISSUED INITIATES THE ORDER PROCESS BUT DOES NOT ALONE CONSTITUTE THE ORDER. AN ORDER OR REQUEST IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION.