PROCESSING A PURCHASE ORDER Sample Clauses
The 'Processing a Purchase Order' clause outlines the procedures and requirements for handling purchase orders between parties. It typically specifies the steps for submitting, reviewing, and confirming orders, including timelines for acceptance or rejection and any necessary documentation. This clause ensures that both buyer and seller have a clear, standardized process for initiating and managing transactions, reducing misunderstandings and streamlining the procurement workflow.
PROCESSING A PURCHASE ORDER. During the telephone call, BNY ETF Administrator will request that the AP state that the AP will not own 80% or more of the Shares of any Fund upon execution of the Purchase Order. If the AP is not able to so confirm, BNY ETF Administrator has the right to not accept the Purchase Order.
PROCESSING A PURCHASE ORDER. During the telephone call, the Transfer Agent will request that the AP state that the AP will not own 80% or more of the Shares of the Trust upon execution of the Purchase Order. If the AP is not able to so confirm, the Transfer Agent has the right to not accept the Purchase Order.
PROCESSING A PURCHASE ORDER. The Distributor reserves the right to suspend a Purchase Order in the event that its acceptance would appear to result in the Participant or a Beneficial Owner owning 80 percent or more of all outstanding WEBS of an Index Series. In such event, the WEBS telephone representative will attempt to contact an Authorized Person for purposes of confirmation of the fact that with respect to such Participant no Beneficial Owner would own 80 percent or more of all outstanding WEBS of a given Index Series upon execution of the Purchase Order. In the event that (i) the WEBS telephone representative is unable to contact an Authorized Person or (ii) the Participant fails to transmit an identical Purchase Order confirming the representation and warranty as to such fact, then the Purchase Order shall be deemed invalid. The Fund and/or the Distributor also reserve the absolute right to reject or suspend a Purchase Order if (i) the portfolio of Deposit Securities delivered is not as specified by the Distributor; (ii) acceptance of the Deposit Securities would have certain adverse tax consequences to the Index Series; (iii) the acceptance of the Portfolio Deposit would, in the opinion of counsel, be unlawful; (iv) the acceptance of the Portfolio Deposit would otherwise, in the discretion of the Fund or the Adviser, have an adverse effect on the Fund or the rights of beneficial owners of WEBS; or (v) in the event that circumstances outside the control of the Fund, the Distributor and the Adviser make it for all practical purposes impossible to process purchase orders. The Fund shall notify the Participant of its rejection of any Purchase Order. The Fund and the Distributor are under no duty, however, to give notification of any defects or irregularities in the delivery of Portfolio Deposits nor shall either of them incur any liability for the failure to give any such notification.
PROCESSING A PURCHASE ORDER. During the telephone call, Distributor will --------------------------- request that Participant state that Participant will not own 80% or more of the shares of an iShares series upon execution of the Purchase Order. If Participant is not able to so confirm, Distributor has the right to not accept the Purchase Order.
PROCESSING A PURCHASE ORDER. During the telephone call, Distributor will request that the AP state that the AP will not own 80% or more of the Shares of any Fund upon execution of the Purchase Order. If the AP is not able to so confirm, Distributor has the right to not accept the Purchase Order.
PROCESSING A PURCHASE ORDER. During the telephone call, the Distributor will request that the AP state that (i) the AP does not own 80% or more of the Shares of any Fund upon execution of the Purchase Order or (ii) if it does own 80% or more of the Shares of any Fund, that such a circumstance would not cause such Fund to have a basis in the Deposited Securities deposited with such Fund different from the market value of such Deposited Securities on the date of such deposit, pursuant to section 351 of the Internal Revenue Code of 1986, as amended. If the AP is not able to so confirm, the Distributor has the right to not accept the Purchase Order.
PROCESSING A PURCHASE ORDER. The Transfer Agent, Distributor and the Trust each reserve the right to reject any an Order in the event that its acceptance would appear to result in the Participant or a Beneficial Owner owning eighty percent (80%) or more of all outstanding Shares of a given Fund. In such event, the Distributor will ask the Authorized Person to re-confirm the representation that the Participant or a Beneficial Owner will not own 80% or more of the Shares of any Fund upon execution of the Purchase Order. If the Authorized Person is able to so confirm, either verbally or in writing in the sole discretion of the Distributor, the Distributor will transmit the Purchase Order to the relevant Fund. If the Authorized Person is not able to confirm that the Participant or a Beneficial Owner will not own 80% or more of the Shares of any Fund upon execution of the Purchase Order, the Distributor has the right to reject the Purchase Order. Purchase Orders may also be rejected under the circumstances described in Section 5 of this Attachment A. After a Fund has accepted a Purchase Order and received delivery of the all-cash payment (or Deposit Securities, as applicable and any accompanying cash payment), DTC will instruct the Fund to initiate “delivery” of the appropriate number of Shares to the book-entry account specified by the Participant. The Distributor will furnish a Prospectus and a confirmation to the Participant. A Creation Unit will not be issued until the transfer of the all-cash payment (or the transfer of good title to the Trust of the Deposit Securities and the payment of any cash portion of the purchase price) has been completed. Notwithstanding the foregoing, Creation Units may be issued to a Participant notwithstanding the fact that the corresponding Deposit Securities and cash payment have not been received in part or in whole, in the sole discretion of the Trust, provided that the Participant deposits the available Deposit Securities and cash in an amount equal to the sum of (i) the Cash Component (including any Transaction Fees), plus (ii) 115% of the market value of the undelivered Deposit Securities (the “Additional Cash Deposit”). The Purchase Order shall be deemed to be received on the Transmittal Day on which the order is placed provided that the order is placed in proper form prior to the Order Cut-Off Time on such date, and federal funds in the appropriate amount are deposited with the Fund’s custodian by 1:00 p.m. U.S. Eastern time on settlement date. If ...