CREATION PROCESS Sample Clauses

CREATION PROCESS. OVERVIEW The following describes the process by which Baskets are created. In summary, an order to purchase one or more Baskets is placed by an Authorized Participant with the Trustee by 4:00 p.m. New York City (“NYC”) time on the Business Day that is the Order Date under the Trust Agreement (“CREATION T”), and a Basket is created by 11:00 a.m. NYC time (usually 4:00 p.m. London time) on the second Business Day following CREATION T, unless that day is not a Local Business Day, in which case creation of the Basket shall be the next following day that is both a Business Day and a Local Business Day (“CREATION T+2”). In order for the creation of a Basket to occur, the Authorized Participant must transfer to the Trust British Pounds and the Trustee will transfer to the Authorized Participant’s account at The Depository Trust Company (“DTC”) Shares corresponding to the British Pounds the Participant has transferred to the Trust. C1 CREATION T (PURCHASE ORDER TRADE DATE) C1.1 By the 4:00 p.m. NYC time (the “Order Cut-Off Time”), or by 12:00 p.m. NYC time on the monthly dividend declaration date (the “Early Order Cut-Off Time”), the Authorized Participant submits to the Trustee the Authorized Participant’s order to create one or more Baskets (a “Purchase Order”).
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CREATION PROCESS. OVERVIEW The following describes the process by which Baskets are created. In summary, an order to purchase one or more Baskets is placed by an Authorized Participant with the Trustee by 4:00 p.m. New York City (“NYC”) time on the Business Day that is the Order Date under the Trust Agreement (“CREATION T”), and a Basket is created by 11:00 a.m. NYC and Toronto time on the second Business Day following CREATION T, unless that day is not a Local Business Day, in which case creation of the Basket shall be the next following day that is both a Business Day and a Local Business Day (“CREATION T+2”). In order for the creation of a Basket to occur, the Authorized Participant must transfer to the Trust Canadian Dollars and the Trustee will transfer to the Authorized Participant’s account at The Depository Trust Company (“DTC”) Shares corresponding to the Canadian Dollars the Participant has transferred to the Trust. C1 CREATION T (PURCHASE ORDER TRADE DATE) C1.1 By the 4:00 p.m. NYC time (the “Order Cut-Off Time”) or by 12:00 p.m. NYC time on the monthly dividend declaration date (the “Early Order Cut-Off Time”), the Authorized Participant submits to the Trustee the Authorized Participant’s order to create one or more Baskets (a “Purchase Order”) in accordance with the following process.
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CREATION PROCESS. OVERVIEW The following describes the process by which Baskets are created. In summary, an order to purchase one or more Baskets is placed by an Authorized Participant with the Trustee by 4:00 p.m. New York City (“NYC”) time on the NY Business Day that is the Order Date under the Trust Agreement (“CREATION T”), on the next NY Business Day that is also a Local Business Day (“CREATION T+1”), the Trustee notifies the Authorized Participant and the Depository of the amount of Singapore Dollars to be transferred to the Trust and the Authorized Participant transfers such amount to the Depository and a Basket is created on the next NY Business Day following CREATION T+1, unless the Trustee has not received confirmation of the receipt of the Basket Singapore Dollar Amount (as defined herein) on such day, in which case creation of the Basket shall be the next following day that is both a New York Business Day and a Local Business Day (“CREATION T+2”). In order for the creation of a Basket to occur, the Authorized Participant must transfer to the Trust Singapore Dollars and the Trustee will transfer to the Authorized Participant’s account at The Depository Trust Company (“DTC”) Baskets corresponding to the Singapore Dollars the Participant has transferred to the Trust. C1 CREATION T (PURCHASE ORDER TRADE DATE) C1.1 By the 4:00 p.m. NYC time (the “Order Cut-Off Time”), or by 12:00 p.m. NYC time on the monthly dividend declaration date (the “Early Order Cut-Off Time”), the Authorized Participant submits to the Trustee the Authorized Participant’s order to create one or more Baskets (a “Purchase Order”) in accordance with the following process.
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CREATION PROCESS. An order to purchase one or more Creation Baskets placed by a Participant with the Distributor by a telephone call placed by the Order Cut-Off Time on a Business Day (such day, “Purchase Order Subscription Date”) results in the issuance and delivery of Creation Basket(s) at noon, Eastern Time, on the Business Day immediately following the Purchase Order Subscription Date if the Trust (or its agents, as the case may be) has received: the Transaction Fee, and for the account of the applicable Trust, the Creation Basket Capital Contribution due from the Participant submitting the Creation/Redemption Order Form.
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CREATION PROCESS. An Order to purchase one or more Baskets placed by an Authorized Participant with the Transfer Agent by 10:00 AM New York time (the “Order Cut-Off Time”) on a Business Day (such day, “CREATION T”) results in the transfer to the Authorized Participant’s account at The Depository Trust Company (“DTC”) of Baskets the Authorized Participant has purchased, in most instances, by 9:00 AM New York time on CREATION T ±1: CREATION PROCEDURES
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