Creation Units definition

Creation Units means the minimum number of shares for subscription in kind or in cash

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Creation Units means the minimum number of Shares for subscription in kind or

Creation Units means the specified number of ETF Units for issuance or redemption as determined by the Asset Management Company and disclosed in the Constitutive Documents.

Examples of Creation Units in a sentence

The Authorized Participant further represents and warrants that its AML Program includes, at a minimum, written policies, procedures and internal controls reasonably designed to (i) prevent, detect and report money laundering, and (ii) identify and verify through appropriate due diligence each of its clients that purchases Creation Units or Shares.
This A▇▇▇▇ ▇▇ to the Authorized Participant Agreement supplements the Prospectus with respect to the procedures to be used in processing (1) a Purchase Order for the purchase of Shares of NYLIM Active ETF Trust and NYLIM ETF Trust (each a “Trust”) in Creation Units of each Fund issued by each Trust and (2) a Redemption Order for the redemption of Shares of each Fund in Creation Units of each Fund.
In addition, the Authorized Participant understands that any advertising material that addresses redemptions of Shares, including the Prospectus, will disclose that the owners of Shares may acquire Shares and tender Shares for redemption to each Trust in whole Creation Units only.
Each Trust reserves the right to issue additional or other procedures relating to the manner of purchasing or redeeming Creation Units and the Authorized Participant agrees to comply with such procedures as may be issued from time to time, upon reasonable notice thereof, including but not limited to the Cash Collateral Settlement Procedures that are referenced in Annex II hereto.
This will allow an Authorized Participant through its Authorized Person(s) to place a Purchase Order or Redemption Order with respect to the purchase or redemption of Creation Units of Shares of each Fund.

More Definitions of Creation Units

Creation Units means aggregations of Shares in each Fund as more fully described in the currently effective Prospectus.

Creation Units shall have the meaning given in the Trust’s transfer agency and service agreement with State Street Bank and Trust Company as transfer agent, dated as of the date of this Agreement. The Administrator shall provide the office facilities and the personnel determined by it to perform the services contemplated herein.

Creation Units means units ordinarily issued for the purchase and redemption of Shares of the BFA Recipient only in aggregations of Shares (currently 40,000 Shares, which amount can be changed over time).

Creation Units shall have the meaning giving it in Article III, Section 3 of this Declaration of Trust.

Creation Units means the minimum number of Units for subscription in

Creation Units shall have the meaning given in the Trust’s Registration Statement with respect to the applicable Fund. The provision of such services shall be subject to the terms and conditions of this Agreement.

Creation Units means Fund Shares issued at NAV per Share only in aggregations of a specified number of shares.