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Common use of CUSTOM BASKETS Clause in Contracts

CUSTOM BASKETS. The Trust has developed procedures for Creations and Redemptions using baskets of Deposit Securities that differ from that published by NSCC as the then-existing portfolio basket for the Fund (a "Custom Basket"). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Trust in connection with a purchase or redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, Investment Manager, or Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket on or prior to the time the AP calls with its purchase order and the AP must agree to deliver the Custom Basket in connection with the purchase. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities to be added to or omitted from the creation basket. ANNEX I -- PART B TO PARTICIPANT AGREEMENT FOR CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 PROCEDURES TO PLACE A REDEMPTION ORDER FOR ------------------------------------------ CREATION UNIT(S) OF SHARES OF ONE OR MORE FUNDS OF -------------------------------------------------- CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 ----------------------------------------------------------------------------- 1. PLACING A REDEMPTION ORDER. The AP submitting a request to redeem shall submit such requests containing the information required by to the Transfer Agent in the following manner: (a) in writing transmitted by (i) facsimile or (ii) telex; (b) through Transfer Agent's electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions attached hereto as Annex III; or (c) by telephone to the Transfer Agent Representative and the Distributor, as applicable, according to the procedures set forth below. The request so transmitted (either in writing, orally or electronic form) is hereinafter referred to as the "Submission" or the "Redemption Order" as applicable, and the Business Day on which a Submission is made is hereinafter referred to as the "Transmittal Date". NOTE THAT THE TELEPHONIC METHOD OF REQUESTING A REDEMPTION IS USED, THE TELEPHONE CALL IN WHICH THE REQUEST NUMBER IS ISSUED INITIATES THE REQUEST PROCESS BUT DOES NOT ALONE CONSTITUTE THE REQUEST. A REQUEST IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION. Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange is open for trading. Redemption Orders may only be made in whole Creation Units of shares of each Fund. To begin a Redemption Order, the AP must telephone the BNYM ETF Administrator at (718) 315-7500. This telephone xxxx xxxx xx xade by an Authorized Person of the AP not later than the closing time of the regular trading session on the Listing Exchange which is ordinarily 4:00 p.m. Eastern Time ("Listing Exchange Closing Time"). Upon verifying the authenticity of the AP (as determined by the use of the appropriate PIN Number), the BNYM ETF Administrator will request that the AP place the Redemption Order. To do so, the AP must provide the appropriate ticker symbols when referring to a Fund. After the AP has placed the Redemption Order, the BNYM ETF Administrator will read the Redemption Order back to the AP. The AP then must affirm that the Redemption Order has been taken correctly by the BNYM ETF Administrator. If the AP affirms that Redemption Order has been taken correctly, the BNYM ETF Administrator will issue a confirmation number to the AP.

Appears in 1 contract

Samples: Participant Agreement (Claymore Exchange-Traded Fund Trust)

CUSTOM BASKETS. The Trust has developed procedures for Creations and Redemptions using baskets of Deposit Securities that differ from that published by NSCC as the then-existing portfolio basket for the Fund (a "Custom Basket"). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Trust in connection with a purchase or redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, Investment Manager, or Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket on or prior to the time the AP calls with its purchase order and the AP must agree to deliver the Custom Basket in connection with the purchase. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities to be added to or omitted from in the custom creation basket. ANNEX I -- PART B TO PARTICIPANT AGREEMENT FOR CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 PROCEDURES TO PLACE A REDEMPTION ORDER FOR ------------------------------------------ CREATION UNIT(S) OF SHARES OF ONE OR MORE FUNDS OF -------------------------------------------------- CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED ---------------------------------------------------------------- FUND TRUST 2 ----------------------------------------------------------------------------------------- 1. PLACING A REDEMPTION ORDER. The AP submitting a request to redeem shall submit such requests containing the information required by to the Transfer Agent in the following manner: (a) in writing transmitted by (i) facsimile or (ii) telexfacsimile; (b) through Transfer Agent's Agents electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions attached hereto as Annex IIIof the Electronic Services Agreement, incorporated herein by reference; or (c) by telephone to the Transfer Agent Representative and the Distributor, as applicable, according to the procedures set forth below. The request so transmitted (either in writing, orally writing or electronic form) is hereinafter referred to as the "Submission" Submission or the "Redemption Order" Order as applicable, and the Business Day on which a Submission is made is hereinafter referred to as the "Transmittal Date". NOTE THAT IF THE TELEPHONIC METHOD OF REQUESTING A REDEMPTION IS USED, THE TELEPHONE CALL IN WHICH THE REQUEST NUMBER IS ISSUED INITIATES THE REQUEST PROCESS BUT DOES NOT ALONE CONSTITUTE THE REQUEST. A REQUEST IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION. Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange is open for trading. Redemption Orders may only be made in whole Creation Units of shares of each Fund. To begin a Redemption Order, the AP must telephone the BNYM ETF Administrator at (718) 315-7500. This telephone telephonx xxxx xxxx xx xade made by an Authorized Person of the AP not later than and answered by BNYM before the closing time of the regular trading session on the Listing Exchange which is ordinarily 4:00 p.m. Eastern Standard Time ("Listing Exchange Closing Time Or Order Cutoff Time"). Upon verifying the authenticity of the AP (as determined by the use of the appropriate PIN Number), the BNYM ETF Administrator will request that the AP place the Redemption Order. To do so, the AP must provide the appropriate ticker symbols when referring to a Fund. After the AP has placed the Redemption Order, the BNYM ETF Administrator will read the Redemption Order back to the AP. The AP then must affirm that the Redemption Order has been taken correctly by the BNYM ETF Administrator. If the AP affirms that Redemption Order has been taken correctly, the BNYM ETF Administrator will issue a confirmation number to the AP. Redemption Orders for select funds may be placed after the Listing Exchange Closing Time and before 5:30 PM Eastern Standard Time on any Business Day. For such Funds the Order Cutoff Time will be 5:30 PM Eastern Standard Time. Such Redemption Orders, if accepted, will receive the next Business Days NAV per Creation Unit.

Appears in 1 contract

Samples: Participant Agreement (Claymore Exchange-Traded Fund Trust)

CUSTOM BASKETS. The Trust has developed procedures for Creations the creation and Redemptions redemption of Creation Baskets and Redemption Baskets using baskets of Deposit Securities that differ from that published by NSCC as the then-existing portfolio basket for the Fund (a "Custom Basket"). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Trust in connection with a purchase Purchase Order or redemption order Redemption Order rather than the basket of Deposit Securities published by NSCC together with the Cash AmountComponent, any cash in lieu amounts and any other cash fees, the Distributor, Investment Managerthe Sponsor, or Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket on at or prior to the time the AP calls with its purchase order Purchase Order or Redemption Order and the AP must agree to deliver or receive the Custom Basket in connection with the purchasecreation or redemption. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities to be added to or omitted from in the custom creation basket. ANNEX I -- EXHIBIT B — PART B TO PARTICIPANT AUTHORIZED PURCHASER AGREEMENT FOR CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 [ ] PROCEDURES TO PLACE A REDEMPTION ORDER FOR ------------------------------------------ CREATION UNIT(S) OF SHARES OF ONE OR MORE FUNDS OF -------------------------------------------------- CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 -----------------------------------------------------------------------------[ ]: 1. PLACING A REDEMPTION ORDER. The AP submitting a request to redeem shall submit such requests containing the information required by to the Transfer Agent in the following manner: (a) in writing transmitted by (i) facsimile or (ii) telexfacsimile; (b) through Transfer Agent's ’s electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions attached hereto as Annex IIIof the Electronic Services Agreement, incorporated herein by reference; or (c) by telephone to the Transfer Agent Representative and the Distributor, as applicable, according to the procedures set forth below. The request so transmitted (either in writing, orally writing or electronic form) is hereinafter referred to as the "Submission" or the "Redemption Order" as applicable, and the Business Day on which a Submission is made is hereinafter referred to as the "Transmittal Date". NOTE THAT IF THE TELEPHONIC METHOD OF REQUESTING A REDEMPTION IS USED, THE TELEPHONE CALL IN WHICH THE REQUEST NUMBER IS ISSUED INITIATES THE REQUEST PROCESS BUT DOES NOT ALONE CONSTITUTE THE REQUEST. A REQUEST IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF THE SUBMISSION. Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange, the Chicago Board of Trade and the New York Stock Exchange is are open for trading. Redemption Orders may only be made in whole Creation Units of shares Shares of each Fund. To begin a telephonic Redemption Order, the AP must telephone the BNYM ETF Administrator at (718) 315-7500Administrator. This telephone xxxx xxxx xx xade call must be made by an Authorized Person of the AP not later than and answered by the closing time of Administrator before the regular trading session on the Listing Exchange which is ordinarily 4:00 p.m. Eastern Time ("Listing Exchange Closing applicable Order Cutoff Time"). Upon verifying the authenticity of the AP (as determined by the use of the appropriate PIN Number), the BNYM ETF Administrator will request that the AP place the Redemption Order. To do so, the AP must provide the appropriate ticker symbols when referring to a Fund. After the AP has placed the Redemption Order, the BNYM ETF Administrator will read the Redemption Order back to the AP. The AP then must affirm that the Redemption Order has been taken correctly by the BNYM ETF Administrator. If the AP affirms that Redemption Order has been taken correctly, the BNYM ETF Administrator will issue a confirmation number to the AP. A Fund’s Order Cutoff Time will not be later than 5:30 PM Eastern Standard Time. Redemption Orders for the Funds, if accepted, will receive the next Business Day’s NAV per Creation Unit if submitted before the applicable Order Cutoff Time.

Appears in 1 contract

Samples: Trust Agreement

CUSTOM BASKETS. The Trust has developed procedures for Creations and Redemptions using baskets of Deposit Securities that differ from that published by NSCC as the then-existing portfolio basket for the Fund (a "Custom Basket"). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Trust in connection with a purchase or redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, Investment Managerthe Funds’ investment adviser, or Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket on or prior to the time the AP calls with its purchase order Purchase Order and the AP must agree to deliver the Custom Basket in connection with the purchase. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities to be added to or omitted from in the custom creation basket. Cash in lieu will only be acceptable in accordance with the terms set forth in the Registration Statement. ANNEX I -- II — PART B TO AUTHORIZED PARTICIPANT AGREEMENT FOR CLAYMORE EXCHANGE-TRADED FUND XXXXXXX SACHS ETF TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 PROCEDURES TO PLACE A REDEMPTION ORDER FOR ------------------------------------------ CREATION UNIT(S) OF SHARES OF ONE OR MORE FUNDS OF -------------------------------------------------- CLAYMORE EXCHANGE-TRADED FUND TRUST AND CLAYMORE EXCHANGE-TRADED FUND TRUST 2 -----------------------------------------------------------------------------XXXXXXX XXXXX ETF TRUST 1. PLACING A REDEMPTION ORDER. The AP submitting a request to redeem shall submit such requests request containing the information required by to the Transfer Agent BNYM ETF Administrator in one of the following mannermanners: (a) in writing transmitted by (i) facsimile or (ii) telex; (b) through Transfer Agent's the BNYM ETF Administrator’s electronic order entry system, as such may be made available and constituted from time to time, the use of which shall be subject to the terms and conditions attached hereto as Annex IIIof the Electronic Services Agreement, incorporated herein by reference; or (cb) by telephone to the Transfer Agent Representative and the Distributor, as applicable, BNYM ETF Administrator according to the procedures set forth below. The request so transmitted (either in writing, orally or electronic form) is hereinafter referred to as the "Submission" or the "Redemption Order" as applicable, and the Business Day on which a Submission Redemption Order is made is hereinafter referred to as the "Transmittal “Order Date". .” NOTE THAT COMMUNICATION THROUGH THE TELEPHONIC METHOD OF REQUESTING A REDEMPTION IS USED, THE ELECTRONIC ORDER ENTRY SYSTEM OR BY TELEPHONE CALL IN WHICH THE REQUEST NUMBER IS ISSUED INITIATES THE REQUEST ORDER PROCESS BUT DOES NOT ALONE CONSTITUTE THE REQUESTCOMPLETE A REDEMPTION ORDER. A REQUEST REDEMPTION ORDER IS ONLY COMPLETED UPON ISSUANCE OF A CONFIRMATION NUMBER AND PROCESSED UPON RECEIPT TRANSMISSION OF THE SUBMISSIONWRITTEN REDEMPTION ORDER TO THE AP AS DESCRIBED BELOW. Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange is open for trading. Redemption Orders may only be made in whole Creation Units of shares Shares of each Fund. To begin a A Redemption Order, the AP must telephone the BNYM ETF Administrator at (718) 315-7500. This telephone xxxx xxxx xx xade Order may be initiated by an Authorized Person of the AP not later than (of the Trust) before the closing time of the regular trading session on the Listing Exchange Exchange, which is ordinarily 4:00 p.m. Eastern Time ("Listing Exchange Closing the “Order Cutoff Time"). Upon The submission of a Redemption Order by the AP to the BNYM ETF Administrator must include the terms of the Redemption Order, the appropriate ticker symbols for each Fund and the PIN Number of the Authorized Person. If the AP uses the electronic order entry system to initiate a Redemption Order, the system automatically notifies the BNYM ETF Administrator of the receipt of such Redemption Order. The BNYM ETF Administrator reviews the electronic Redemption Order and accepts or rejects the order terms within the system. The system automatically generates and delivers a written Redemption Order to the AP. Such transmission of the Redemption Order shall indicate approval of the Redemption Order by the BNYM ETF Administrator. If the BNYM ETF Administrator rejects the order, it will promptly notify the AP through the electronic system of the rejection and the reason(s) for such rejection. To begin a Redemption Order using the telephonic method, the AP must call the BNYM ETF Administrator at (000) 000-0000 or such other number as the BNYM ETF Administrator may from time to time designate in writing to the AP. The telephone call must be answered and concluded prior to the Order Cutoff Time. During the telephone call, upon verifying the authenticity of the AP Authorized Person (as determined by the use of the appropriate PIN Number), the BNYM ETF Administrator will request that the AP place convey the terms of the Redemption Order. To do so, the AP must provide including the appropriate ticker symbols when referring to a for each Fund. , and will record the terms of the Redemption Order on the form attached hereto as Annex II – Part C. After the AP has placed the Redemption Order, the BNYM ETF Administrator will read reads the terms of the Redemption Order back to the AP. The AP then must affirm confirm that the Redemption Order has been taken correctly by the BNYM ETF Administrator. If the AP affirms confirms that the Redemption Order has been taken correctly, the BNYM ETF Administrator will issue a confirmation number to the AP and, before concluding the call, will transmit the written Redemption Order (including the confirmation number) to the AP. Redemption Orders placed after the closing time of the regular trading session on the Listing Exchange, if accepted, will receive the next Business Day’s NAV per Creation Unit. A REDEMPTION ORDER IS COMPLETE WHEN THE BNYM ETF ADMINISTRATOR ISSUES THE CONFIRMATION NUMBER AND TRANSMITS THE WRITTEN PURCHASE ORDER. A REDEMPTION ORDER CANNOT BE CANCELED BY THE AUTHORIZED PARTICIPANT AFTER IT HAS BEEN SUBMITTED TO THE BNYM ETF ADMINISTRATOR. INCOMING TELEPHONE CALLS ARE QUEUED AND WILL BE HANDLED IN THE SEQUENCE RECEIVED. ACCORDINGLY, THE AP SHOULD NOT HANG UP AND REDIAL. CALLS MUST BE CONCLUDED PRIOR TO THE ORDER CUTOFF TIME TO BE PROCESSED ON THE ORDER DATE AND AT THE ORDER DATE’S NAV. FOR CALLS THAT ARE IN PROGRESS OR ARE UNANSWERED IN THE QUEUE AT OR AFTER THE ORDER CUTOFF TIME, THE BNYM ETF REPRESENTATIVE WILL VERBALLY ALERT THE AP THAT THE ORDER CUTOFF TIME HAS PASSED AND THAT THE REDEMPTION ORDER CAN NO LONGER BE PROCESSED ON THE ORDER DATE. ALL TELEPHONE CALLS WILL BE RECORDED AND TIME STAMPED BY THE BNYM ETF ADMINISTRATOR.

Appears in 1 contract

Samples: Authorized Participant Agreement