Redemption Orders definition
Examples of Redemption Orders in a sentence
This Procedures Handbook details the procedures for placing and processing Purchase Orders and Redemption Orders in Creation Units.
US Bank must receive all Redemption Orders to redeem Creation Unit Aggregations no later than 2:00 P.M. (Eastern) (or such earlier times if so designated).
The redemption of Creation Units may be suspended by the Sponsor generally, or refused with respect to a particular Redemption Order, during any period when the transfer books of the Transfer Agent are closed or if circumstances outside the control of the Sponsor or its delegate make it for all practicable purposes not feasible to process Redemption Orders or for any other reason at any time or from time to time.
Redemption Orders which may settle earlier than T+1 may be subject to a charge, which shall be calculated as determined by the Trust or Sponsor.
Redemption Orders may be transmitted by an AP to US Bank by telephone or the internet.
If Redemption Orders are received by the Trust’s identified Cut-off Time and are accepted by US Bank, the Redemption Order will be processed based on the NAV of the Trust as next determined on such date.
Solely with respect to Purchase Orders or Redemption Orders effected through the CNS Clearing Process, the Authorized Participant hereby authorizes the Transfer Agent to transmit to the NSCC on behalf of the Authorized Participant such instructions consistent with the instructions issued by the Authorized Participant to the Transfer Agent.
To be eligible to place Redemption Orders with US Bank, an AP must be a DTC Participant.
The Sponsor may require, in its sole discretion, that Redemption Orders may be denominated in Litecoin (a “Litecoin Redemption Order”) or cash (a “Cash Redemption Order”).