Creation of Shares Pursuant to In-Kind Orders. The Creation of Shares pursuant to In-Kind Orders shall take place only in compliance with the rules of this Section 2.01: (a) Authorized Participants wishing to acquire from the Trust one or more Baskets shall place a Creation Order with the Transfer Agent no later than the Order Cutoff Time on any Business Day. Creation Orders received by the Transfer Agent on or after the Order Cutoff Time on any Business Day shall be considered rejected unless determined otherwise by the Sponsor in writing in its sole discretion. (b) The Trade Date for the Creation of Shares pursuant to In-Kind Orders shall be the Order Date. (c) For purposes of Section 2.01(a) above, a Creation Order shall be deemed received by the Transfer Agent only when either of the following has occurred no later than the Order Cutoff Time:
Appears in 4 contracts
Samples: Authorized Participant Agreement (Grayscale Ethereum Trust (ETH)), Authorized Participant Agreement (Grayscale Ethereum Mini Trust (ETH)), Authorized Participant Agreement (Grayscale Bitcoin Mini Trust (BTC))
