Common use of Creation Orders Clause in Contracts

Creation Orders. (a) All orders to create one or more MacroShares Units shall be made in accordance with and subject to the terms and conditions of the applicable MacroShares Trust Agreements, these Standard Terms, the applicable Supplement and the Applicable Creation Procedures specified thererin. 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 Applicable Creation Procedures. The Administrative Agent may issue additional or revised procedures from time to time relating to the manner of creation of the applicable MacroShares Units which differ from or supplement the Applicable Creation Procedures, and, upon receiving written notice thereof, each of the applicable Authorized Participants shall thereafter comply with Applicable Creation Procedures, as so amended. Any Creation Order with respect to which an Authorized Participant has failed to comply with Applicable Procedures may be rejected by the Administrative Agent and, so long as written notice of any amendment or supplement to such Applicable Procedures has been delivered to such Authorized Participant in accordance with Section 20(c), the Administrative Agent, the applicable Paired Trusts and the other parties to the applicable Participants Agreement shall have no liability for any such rejection.

Creation Orders. (a) All orders to create one or more MacroShares Units shall be made in accordance with and subject to the terms and conditions of the applicable MacroShares Trust Agreements, these Standard Terms, the applicable Supplement and the Applicable Creation Procedures specified thererintherein. 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 Applicable Creation Procedures; provided that the party making such recording shall provide such recordings to such Authorized Participant upon reasonable request. The Administrative Agent may issue additional or revised procedures from time to time relating to the manner of creation of the applicable MacroShares Units which differ from or supplement the Applicable Creation Procedures, and, upon receiving reasonable written notice thereof, each of the applicable Authorized Participants shall thereafter comply with Applicable Creation Procedures, as so amended. Any Creation Order with respect to which an Authorized Participant has failed to comply with Applicable Procedures may be rejected by the Administrative Agent and, so long as written notice of any amendment or supplement to such Applicable Procedures has been delivered to such Authorized Participant in accordance with Section 20(c)) prior to the delivery of such Creation Order, the Administrative Agent, the applicable Paired Trusts and the other parties to the applicable Participants Agreement shall have no liability for any such rejection.