Creation Order Clause Samples

Creation Order. (a) All orders to create one or more MACRO Units and concurrently exchange them into their respective Tradeable Shares or, in the event that the Authorized Participant instruct otherwise, to create one or more MACRO Units, shall be made in accordance with the terms of the applicable Trust Agreement, this Participants Agreement and the Creation Procedures. Each party will comply with such foregoing terms and procedures to the extent applicable. Each Authorized Participant hereby consents to the use of recorded telephone lines whether or not such use is reflected in the Creation Procedures. The applicable Trustee, the Administrative Agent and the Depositor may issue additional or other procedures from time to time relating to the manner of creation of MACRO Units or creation of MACRO Units and concurrently exchanging all or part of such Holding Shares into Tradeable Shares, which are not related to the Creation Procedures, and each Authorized Participant shall comply with such procedures. (b) Each Authorized Participant acknowledges and agrees on behalf of itself and any party for which it is acting (whether such party is a customer or otherwise) that each order to create a MACRO Unit and concurrently exchange such MACRO Unit into Tradeable Shares or to create a MACRO Unit (a "Creation Order") may not be revoked by such Authorized Participant after the placement and acceptance of such Order with the Administrative Agent. Such order shall be a binding obligation of the Authorized Participant that placed such order. A form of a Creation Order is attached hereto as EXHIBIT B (the "Creation Order Form"). The Creation Order Form shall not be required if such Creation Order is conducted through the electronic facilities of the Administrative Agent; provided, however, that the Administrative Agent, in its sole discretion, may require the use of the Creation Order Form for any reason as an alternative for its electronic facilities. The information required by such electronic facilities shall be substantially similar to the information on the Creation Order Form attached hereto. (c) The Administrative Agent and the Depositor shall each have the absolute right, but shall have no obligation, to reject any Creation Order (i) if the Administrative Agent determines that the Creation Order is not in the required form, (ii) if the Administrative Agent determines that the Authorized Participant or Authorized Participants have deposited an insufficient amount of money with th...