Placing of Redemption Order. 1.1. Authorized Participants may submit Redemption Orders only on Business Days. Redemption Orders may only be placed for a number of Shares of a Trust equal to one or more whole Baskets. A Redemption Order to redeem one or more Redemption Baskets must be placed by an Authorized Participant with the Sponsor or its delegate by 4:00 p.m., New York time, (the “Order Cut-Off Time”) on a Business Day (the “Redemption Order Date”).
Appears in 10 contracts
Samples: Master Participant Agreement (Grayscale Filecoin Trust (FIL)), Master Participant Agreement (Grayscale Ethereum Trust (ETH)), Master Participant Agreement (Grayscale Bitcoin Trust (BTC))
Placing of Redemption Order. 1.1. Authorized Participants may submit Redemption Orders only on Business Days. Redemption Orders may only be placed for a number of Shares of a Trust equal to one or more whole Baskets. A Redemption Order to redeem one or more Redemption Baskets must be placed by an Authorized Participant with the Sponsor Manager or its delegate by 4:00 p.m., New York time, (the “Order Cut-Off Time”) on a Business Day (the “Redemption Order Date”).
Appears in 2 contracts
Samples: Master Participant Agreement (Grayscale Digital Large Cap Fund LLC), Participant Agreement (Grayscale Digital Large Cap Fund LLC)
