Execution of Purchase Orders Sample Clauses
The 'Execution of Purchase Orders' clause defines the procedures and requirements for processing and fulfilling purchase orders between parties. It typically outlines how orders are to be submitted, accepted, and confirmed, and may specify timelines, documentation, or electronic systems to be used. This clause ensures that both parties have a clear, standardized process for initiating and completing transactions, reducing misunderstandings and streamlining the procurement workflow.
Execution of Purchase Orders a. To effect the purchase of a Creation Unit of a Fund, the Participant shall deliver a Fund Deposit plus a purchase transaction fee (as described in the Fund Documents) to the relevant Fund. The amount of such purchase transaction fee shall be determined by the Trust or the investment advisor to the Trust (the “Advisor”) in accordance with the Fund Documents and may be changed from time to time in accordance with this Agreement.
i. The Fund Deposit shall consist of the requisite Deposit Securities plus or minus a Balancing Amount. The Balancing Amount shall be payable to the Fund depending on the net asset value of Fund Shares determined after the Purchase Order has been placed.
ii. A Fund may permit or require the substitution of an amount of cash to be added to the Balancing Amount to replace any Deposit Securities (i.e. “cash in lieu”).
iii. A Fund may (in its sole discretion) accept collateral up to 105% of the value of the Deposit Securities in anticipation of delivery of all or a portion of the requisite Deposit Securities (as disclosed in the Prospectus from time to time) and may use such cash or collateral to purchase Deposit Securities. The Participant shall be required to deposit an additional amount of cash with the Fund pending delivery of the missing Deposit Securities to the extent necessary to maintain cash collateral in an amount at least equal to 105% of the daily marked to market value of the missing Deposit Securities.
iv. The Participant shall be responsible for any and all customary brokerage expenses and related costs and transfer taxes incurred by the Fund in connection with Purchase Orders submitted by the Participant, including expenses arising from the use of cash in lieu or collateral.
b. With respect to any Purchase Order, each Fund shall return to the Participant any dividend, distribution, or other corporate action paid to the Fund in respect of any Deposit Security that is transferred to the Fund that, based on the valuation of such Deposit Security at the time of transfer, should have been paid to such Participant.
c. The Participant shall make available or transfer funds for each purchase of Fund Shares of a Fund an amount sufficient to pay the Balancing Amount plus the purchase transaction fee and the additional variable charge for cash purchases (when, in the sole discretion of the Fund, cash purchases are available or specified (the “Cash Amount”). Computation of the Cash Amount shall exclude any taxes, duties or other ...
Execution of Purchase Orders. Fulcrum acknowledges that its Owners’ continuing rights to purchase Core Systems hereunder and pursuant to POs shall at all times be governed by and contingent upon Fulcrum’s compliance with each and every term of this Contract in all material respects and shall be at all times governed by and contingent upon the execution of, and Fulcrum’s, or Owners’, as applicable, compliance with, the terms of a PO in all material respects for each specific Core System. Each PO shall contain licensing related provisions based on the terms set forth in Exhibit B attached hereto and each PO shall become effective only when filled in and signed by both parties thereto. If an Owner enters into a PO such Owner shall be considered to be the party holding title to the PEM Equipment components of the Core System and the licensee of the IET Technology components therein, and shall be responsible for complying with the terms and conditions of the PO and this Agreement to the extent incorporated therein. Fulcrum and each such Owner shall enter into inter-company or other licensing agreements as well as invention assignment or related agreements as are reasonably necessary to effect Owner and IET’s IP Rights under each PO. Each PO shall specify the allowed categories of feedstock and the location of the Equipment subject to the individual PO.
Execution of Purchase Orders