Order Date definition
Examples of Order Date in a sentence
If a Purchase Order is rejected, the Transfer Agent shall send to the Authorized Participant (with copy to the Custodian), via facsimile or electronic mail message, as soon as reasonably practicable, but not later than 6:30 p.m. (New York time) on the Order Date for such Purchase Order, a copy of the corresponding Purchase Order endorsed “Declined” by the Transfer Agent and indicating the reason.
Each Purchase Order shall settle on the Business Day following the Order Date.
Redemption Orders received by the Transfer Agent on or after the Order Cutoff Time on any Business Day shall be considered received at the opening of business on the next Business Day and shall have as their Order Date such next Business Day.
In the event that on the Business Day following the Order Date of a Purchase Order, in the case of an In-Kind Purchase Order, the Basket Amount shall not have been Delivered to the Custodial Account, or, in the case of a Cash Purchase Order, the Required Cash Amount shall not have been Delivered to Transfer Agent, in compliance with the provisions of section 2.02e.
Purchase Orders received by the Transfer Agent on or after the Order Cutoff Time on a Business Day shall be considered received at the opening of business on the next Business Day and shall have as their Order Date such next Business Day.