Common use of CUSTOM BASKETS Clause in Contracts

CUSTOM BASKETS. The Trust has developed procedures for creations and redemptions using baskets of securities and/or cash that differ from a basket of Fund Securities and/or cash published or transacted on a Business Day (a “Custom Basket”). In order for an AP to receive a Custom Basket in connection with a Redemption Order rather than the basket of Fund Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, Transfer Agent, Investment Manager or Trust must notify the AP that the Fund would like to effect the redemption through a Custom Basket and identify the contents of the Custom Basket on or prior to the time the AP calls with its Redemption Order and the AP must agree to receive the Custom Basket in connection with the redemption. Prior to trade date, the Transfer Agent must notify NSCC of the Fund Securities in the custom redemption basket. For the avoidance of doubt, where an AP submits an order with certain positions marked as cash in lieu, such order is not subject to this provision.

CUSTOM BASKETS. The Trust has developed procedures for creations and redemptions using baskets of securities and/or cash that differ from a basket of Fund Deposit Securities and/or cash published or transacted on a Business Day (a “Custom Basket”). In order for an AP to receive deliver a Custom Basket in connection with a Redemption Purchase Order rather than the basket of Fund Deposit Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, Transfer Agent, Investment Manager or Trust must notify the AP that the Fund would like to effect the redemption purchase through a Custom Basket and identify the contents of the Custom Basket on or prior to the time the AP calls with its Redemption Purchase Order and the AP must agree to receive deliver the Custom Basket in connection with the redemptionpurchase. Prior On or prior to trade date, the Transfer Agent must notify NSCC of the Fund Deposit Securities in to be added to or omitted from the custom redemption creation basket. For the avoidance of doubt, where an AP submits an order with certain positions marked as cash in lieu, such order is not subject to this provision.