Common use of Creation Orders Clause in Contracts

Creation Orders. The DTC Participant notified of acknowledgement of an order to create Shares shall be required to effect a transfer to the Transfer Agent of (a) the requisite Deposit Securities through Euroclear, DTC and/or Fed Book-Entry so as to be received by the Transfer Agent no later than 11:00 a.m., Eastern time on the next Business Day immediately following the Business Day on which such order is Deemed Received by the Transfer Agent as set forth below in Section IV, in such a way as to replicate the Portfolio Deposit established on the Transmittal Date by the Transfer Agent and (b) the Cash Component, if any, through the Federal Reserve Bank wire system or the DTCC Security Payment Order system, so as to be received by the Transfer Agent by 2:00 p.m., Eastern time on the next Business Day immediately following the day such order is Deemed Received. If the Transfer Agent does not receive the Deposit Securities by 11:00 a.m., Eastern time and the Cash Component, if any, by 2:00 p.m., Eastern time on the Business Day immediately following the day such order is Deemed Received, the creation order contained in such Submission shall be canceled. Upon written notice to the Transfer Agent, the DTC/Euroclear Participant may resubmit such canceled order on the following Business Day using a Portfolio Deposit as newly constituted.

Creation Orders. The DTC Participant notified of acknowledgement acknowledgment of an order to create Trust Shares outside the Trust’s Clearing Process shall be required to effect a transfer to the Transfer Agent of (a) the requisite Deposit Securities through Euroclear, DTC and/or Fed Book-Book Entry so as to be received by the Transfer Agent no later than 11:00 a.m., Eastern time [11:00] a.m. on the next Business Day immediately following the Business Day on which such order is Deemed Received by the Transfer Agent Distributor as set forth below in Section IV, in such a way as to replicate the Portfolio Deposit established on the Transmittal Date by the Transfer Agent and (b) the Cash Component, if any, through the Federal Reserve Bank wire system or the DTCC Security Payment Order system, so as to be received by the Transfer Agent by 2:00 p.m., Eastern time [2:00] p.m. on the next Business Day immediately following the day such order is Deemed Received. If the Transfer Agent does not receive the Deposit Securities by 11:00 a.m., Eastern time [11:00] a.m. and the Cash Component, if any, by 2:00 p.m., Eastern time [2:00] p.m. on the Business Day immediately following the day such order is Deemed Received, the creation order contained in such Submission shall be canceled. Upon written notice to the Transfer Agent, the DTC/Euroclear DTC Participant may resubmit such canceled order on the following Business Day using a Portfolio Deposit as newly constituted.

Creation Orders. The DTC Participant notified of acknowledgement acknowledgment of an order to create Trust Shares shall be required required, when applicable, to effect a transfer to the Transfer Agent of (a) the requisite Deposit Securities through Euroclear, DTC and/or Fed Book-Entry so as to be received by the Transfer Agent no later than 11:00 a.m., Eastern time [11:00] a.m. E.S.T. on the next Business Day immediately following the Business Day on which such order is Deemed Received by the Transfer Agent Distributor as set forth below in Section IV, in such a way as to replicate the Portfolio Deposit established on the Transmittal Date by the Transfer Agent and (b) the Cash Component, if any, through the Federal Reserve Bank wire system or the DTCC Security Payment Order system, so as to be received by the Transfer Agent by 2:00 p.m., Eastern time [2:00] p.m. E.S.T. on the next Business Day immediately following the day such order is Deemed Received. If the Transfer Agent does not receive the Deposit Securities by 11:00 a.m., Eastern time [11:00] a.m. E.S.T. and the Cash Component, if any, by 2:00 p.m., Eastern time [2:00] p.m. E.S.T. on the Business Day immediately following the day such order is Deemed Receivedreceived in proper form (as described in the Prospectus), the creation order contained in such Submission shall be canceled. Upon written notice to the Transfer Agent, the DTC/Euroclear Participant may resubmit such canceled order on the following Business Day using a Portfolio Deposit as newly constituted.