CREATION AND REDEMPTION PROCESS. If creations and redemptions pursuant to this Agreement are on an in-kind basis, Participant understands and acknowledges that the Transfer Agent will not effect a creation or redemption (issuing a Creation Unit Aggregation of Shares in the case of a creation, transferring Deposit Securities in the case of a redemption) until it has received confirmation of receipt of the Participant’s incoming security transfer through the Fed Book-Entry System, Euroclear, or DTC in the case of a creation, and through Euroclear or DTC a Creation Unit aggregation of the Shares in the case of a redemption).
Appears in 4 contracts
Samples: Participant Agreement (Powershares Actively Managed Exchange-Traded Fund Trust), Participant Agreement (Powershares Actively Managed Exchange-Traded Fund Trust), Participant Agreement (Powershares Actively Managed Exchange-Traded Fund Trust)
CREATION AND REDEMPTION PROCESS. If creations and redemptions pursuant to this Agreement are on an in-kind basis, Participant understands and acknowledges that the Transfer Agent will not effect a creation or redemption (issuing a Creation Unit Aggregation of Shares in the case of a creation, transferring Deposit Securities in the case of a redemption) until it has received confirmation of receipt of the Participant’s incoming security transfer through the Fed Book-Entry System, Euroclear, or DTC in the case of a creation, and through Euroclear or DTC a Creation Unit aggregation of the Shares in the case of a redemption).
Appears in 1 contract
Samples: Participant Agreement (Powershares Actively Managed Exchange-Traded Fund Trust)
