Common use of CNS Clearing Process Clause in Contracts

CNS Clearing Process. In general, the cash and or treasuries (collectively “cash”) as allowable pursuant to the Fund’s registration statement making up a Creation Unit must be delivered through the NSCC to a DTC account maintained at the Fund’s custodian on or before the Contractual Settlement Date (defined below). The “Contractual Settlement Date” is the earlier of: (i) the date upon which the Cash is delivered to the Fund; and (ii) trade date plus three (T +3) business days. Creation Units will be issued through the NSCC in accordance with the terms and conditions of the NSCC systems from time to time adopted and communicated to NSCC participants. Any settlement outside the CNS Clearing Process may be subject to additional requirements and fees as discussed in the Prospectus.