PROCEDURES SPECIFIC TO CUSTOM BASKETS Clause Samples

PROCEDURES SPECIFIC TO CUSTOM BASKETS. As fixed income instruments are characterized by minimum and incremental trading lots, the Fund has developed custom creation, redemption and other non-typical baskets (the “Custom Baskets”). Custom Baskets are intended to allow the Participant to transact in that Fund and other non-standard baskets using the Custom Basket process. The Custom Basket process allows for cash-in-lieu for certain securities as well as non-typical baskets and broker-to-broker settlements. Baskets will usually be created with constituent security allocations at variance from what is published in NSCC. To ensure proper tracking of the Fund to its benchmark index, Standard Baskets will be compiled and used for index indicative value (“IOPV”) calculation only. The following guidelines must be followed when transacting Custom Baskets: 1. On or before T-1, the Participant must request a Custom Basket from the Adviser at ▇▇▇-▇▇▇-▇▇▇▇ for creations and redemptions. The Adviser must identify the securities to be added to or omitted from the creation or redemption basket (the “Added Issues” or the “Omitted Issues”). In the case of an Omitted Issue, cash-in-lieu is defined as the net asset value of the Fund times the number of units in one creation block minus the value of the Omitted Issues. The Participant will also be responsible for any costs associated with the conversion of cash into the Omitted Issues to be purchased. The Participant may request that the Custom Basket be available for creations and redemptions for a one-time transaction, a specific period or indefinitely. The Advisor will notify the Transfer Agent of Custom Basket requests and will deliver a confirmation to the Participant and the Transfer Agent, if approved. In the event subsequent additions and/or deletions to Added Issues or Omitted Issues are required to change the custom basket already approved, the Adviser is responsible for advising both the Participant and the Transfer Agent. For subscriptions made entirely in cash, Participants must deposit funds by trade date plus 1 day (T+1) for Treasuries, and trade date plus 3 days (T+3) for Municipals, other Government Debt, Preferreds and Corporate debt obligations reflecting the trade settlement cycle for the foregoing. 2. For Funds holding only securities which clear through NSCC’s Continuous Net Settlement process, on trade date minus 1 day, prior to the opening of the NYSE, the Fund through Transfer Agent will notify NSCC as to the components of the approved Cust...
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PROCEDURES SPECIFIC TO CUSTOM BASKETS. To accommodate Participants with restricted securities in the standard basket of a Fund, State Street has developed custom creation and redemption baskets (the "Custom Baskets"). Custom Baskets are intended to allow Participants with restricted issues in a particular Fund, to transact in that Fund using the Custom Basket process. The Custom Basket process substitutes cash-in-lieu for the restricted securities and continues to settle through the standard CNS process at NSCC. It is the responsibility of the Participant to apply to the NSCC by contacting DTCC Participant Services at ▇▇▇-▇▇▇-▇▇▇▇ to allow them to receive Custom Baskets as well as the regular daily standard baskets (the "Standard Baskets"). To ensure proper tracking of the Fund to its benchmark index the following guidelines must be followed when transacting Custom Baskets:
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PROCEDURES SPECIFIC TO CUSTOM BASKETS. The Fund has developed custom creation, redemption and other non-typical baskets (the "Custom Baskets"). Custom Baskets are intended to allow Participants to transact in that Fund and other non-standard baskets using the Custom Basket process. The Custom Basket process allows for cash-in-lieu for certain securities as well as non-typical baskets and continues to settle through the standard CNS process at NSCC. It is the responsibility of the Participant to apply to the NSCC by contacting DTCC Participant Services at 212-855-4155 and the Transfer Agent at 718-315-4968 or 4▇▇▇ ▇▇ ▇▇▇▇▇ them to receive Custom Bask▇▇▇ ▇▇ ▇▇▇▇ as the regular daily standard baskets (the "Standard Baskets"). To ensure proper tracking of the Fund to its benchmark index the following guidelines must be followed when transacting Custom Baskets: 1. On or before T-1, the Participant must request a Custom Basket Application Form from the Transfer Agent by calling 718-315-4968 or 4970 for creations and redemptions. The T▇▇▇▇▇▇▇ ▇▇▇▇t will fax a standard Application Form (see attached) on which the Participant must identify the securities to be added to or omitted from the creation or redemption basket (the "Added Issues" or the "Omitted Issues"). In the case of an Omitted Issue, cash in lieu is defined as the Net Asset Value of the Fund times the number of units in one creation block minus the value of the Omitted Issues. Participants will also be responsible for any costs associated with the conversion of cash into the Omitted Issues to be purchased. Participants may request that the Custom Basket be available for creations and redemptions for a one-time transaction, a specific period or indefinitely. The Transfer Agent will advise the Fund who will review the Custom Basket request and, if approved, will deliver a confirmation back to the Transfer Agent and the Participant. In the event subsequent additions and/or deletions to Added Issues or Omitted Issues are required to change the custom basket already approved, the Participant is responsible for completing a new standard form with the Transfer Agent.
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PROCEDURES SPECIFIC TO CUSTOM BASKETS. For avoidance of doubt, and in alignment with the Prospectus, the NTA Funds will not accept custom creation or redemption orders based on non-typical baskets (referred to as “Custom Baskets”). Any references to Custom Baskets or procedures related thereto in the Agreement or otherwise should be deemed inapplicable to the NTA Funds.
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PROCEDURES SPECIFIC TO CUSTOM BASKETS. The Fund has developed custom creation, redemption and other non-typical baskets (the "Custom Baskets"). Custom Baskets are intended to allow Participants to transact in that Fund and other non-standard baskets using the Custom Basket process. The Custom Basket process allows for cash-in-lieu for certain securities as well as non-typical baskets and continues to settle through the standard CNS process at NSCC. It is the responsibility of the Participant to apply to the NSCC by contacting DTCC Participant Services at 212-855-4155 and the Transfer A▇▇▇▇ ▇▇ ▇▇▇-315-4968 or 4970 to allow t▇▇▇ ▇▇ ▇▇▇▇▇ve Custom Baskets as well as the regular daily standard baskets (the "Standard Baskets"). To ensure proper tracking of the Fund to its benchmark index the following guidelines must be followed when transacting Custom Baskets: 1. On or before T-1, the Participant must request a Custom Basket Application Form from the Transfer Agent - vi -
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