Common use of Domestic Clause in Contracts

Domestic. The DTC Participant notified of acknowledgement of an order to create Shares outside the Trust’s Clearing Process shall be required to effect a transfer to the Transfer Agent of (a) the requisite Deposit Securities through DTC so as to be received by the Transfer Agent by the “regular way” settlement date, on which the order is received in proper form (as described in the Prospectus) by the Distributor, in such a way as to replicate the Portfolio Deposit established on the Transmittal Date by the Transfer Agent and (b) the Cash Component, if any, through the Federal Reserve Bank wire system so as to be received by the Transfer Agent by 2:00 p.m., Eastern time by the “regular way” settlement date (as described in the Prospectus). If the Transfer Agent does not receive the Deposit Securities by 11:00 a.m., Eastern time, and the Cash Component, if any, by 2:00 p.m., Eastern time by the “regular way” settlement date. (as described in the Prospectus), the creation order contained in such Submission shall be canceled. Upon written notice to the Transfer Agent, the DTC Participant may resubmit such canceled order on the following Business Day using a Portfolio Deposit as newly constituted.

Appears in 34 contracts

Samples: Participant Agreement (PowerShares Exchange-Traded Fund Trust II), Participant Agreement (PowerShares Exchange-Traded Fund Trust II), Participant Agreement (PowerShares Exchange-Traded Fund Trust II)

AutoNDA by SimpleDocs

Domestic. The DTC Participant notified of acknowledgement of an order to create Shares outside the Trust’s Clearing Process shall be required to effect a transfer to the Transfer Agent of (a) the requisite Deposit Securities through DTC so as to be received by the Transfer Agent by no later than 11:00 a.m., Eastern time on the “regular way” settlement date, next Business Day immediately following the Business Day on which the such order is received in proper form (as described in the Prospectus) by the Distributor, in such a way as to replicate the Portfolio Deposit established on the Transmittal Date by the Transfer Agent and (b) the Cash Component, if any, through the Federal Reserve Bank wire system or the DTCC Security Payment Order system, so as to be received by the Transfer Agent by 2:00 p.m., Eastern time by on the “regular way” settlement date next Business Day immediately following the day such order is received in proper form (as described in the Prospectus). If the Transfer Agent does not receive the Deposit Securities by 11:00 a.m., Eastern time, and the Cash Component, if any, by 2:00 p.m., Eastern time by on the “regular way” settlement date. Business Day immediately following the day such order is received in proper form (as described in the Prospectus), the creation order contained in such Submission shall be canceled. Upon written notice to the Transfer Agent, the DTC Participant may resubmit such canceled order on the following Business Day using a Portfolio Deposit as newly constituted.

Appears in 10 contracts

Samples: Participant Agreement (PowerShares Exchange-Traded Fund Trust II), Participant Agreement (PowerShares Exchange-Traded Fund Trust II), Participant Agreement (PowerShares Exchange-Traded Fund Trust II)

AutoNDA by SimpleDocs

Domestic. The DTC Participant notified of acknowledgement of an order to create Shares outside the Trust’s Clearing Process shall be required to effect a transfer to the Transfer Agent of (a) the requisite Deposit Securities through DTC so as to be received by the Transfer Agent by the “regular way” settlement date, on which the order is received in proper form (as described in the Prospectus) by the Distributor, in such a way as to replicate the Portfolio Deposit established on the Transmittal Date by the Transfer Agent and (b) the Cash Component, if any, through the Federal Reserve Bank wire system so as to be received by the Transfer Agent by 2:00 p.m., Eastern time by the “regular way” settlement date (as described in the Prospectus). If the Transfer Agent does not receive the Deposit Securities by 11:00 a.m., Eastern time, and the Cash Component, if any, by 2:00 p.m., Eastern time by the “regular way” settlement date. date (as described in the Prospectus), the creation order contained in such Submission shall be canceled. Upon written notice to the Transfer Agent, the DTC Participant may resubmit such canceled order on the following Business Day using a Portfolio Deposit as newly constituted.

Appears in 1 contract

Samples: Participant Agreement (Powershares Actively Managed Exchange-Traded Fund Trust)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!