Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable Fund at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client to pay, on such day, to the applicable Fund an amount in cash equal to the difference.
Appears in 23 contracts
Samples: Authorized Participant Agreement (Valkyrie ETF Trust II), Participant Agreement (Natixis ETF Trust), Participant Agreement (ALPS ETF Trust)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable Fund at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client beneficial owner(s) of the shares redeemed to pay, on such day, to the applicable Fund Trust an amount in cash equal to the difference.
Appears in 9 contracts
Samples: Select Sector Spdr® Trust Participant Agreement (Select Sector SPDR Trust), Participant Agreement (SPDR Trust Series 1), Participant Agreement (Streettracks Series Trust)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable Fund at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client beneficial owner(s) of the shares redeemed to pay, on such day, to the applicable Fund Trust an amount in cash equal to the difference.
Appears in 7 contracts
Samples: Participant Agreement (Sector SPDR Trust), Form of Participant Agreement (Rydex Etf Trust), Participant Agreement (Rydex Etf Trust)
Additional Payment on Redemption. In the event that the Participant receives Fund Securities the value of which exceeds the net asset value of the applicable Fund at the time of redemption, the Participant agrees to pay, on the same business day it is notified, or cause the Participant Client to pay, on such day, to the applicable Fund an amount in cash equal to the difference.
Appears in 4 contracts
Samples: Participant Agreement (SPDR Dow Jones Industrial Average Etf Trust), Participant Agreement (SPDR S&p 500 Etf Trust), Participant Agreement (SPDR Dow Jones Industrial Average Etf Trust)
