Common use of CREATION PROCESS Clause in Contracts

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.