Common use of Plan Cancellations Clause in Contracts

Plan Cancellations. In the event that the Sponsor receives from the Custodian a notice of Plan cancellation by a Planholder, and such cancellation is subject under applicable law and Plan Documents to a refund of a portion of the Creation and Sales Charge previously imposed under the Plan, the Sponsor shall transmit funds to the order of the Custodian in an amount equal to the refundable amount calculated in accordance with applicable law and Plan Documents.

Plan Cancellations. In the event that the Sponsor receives from the Custodian a notice of Plan cancellation by a Planholder, and such cancellation is subject under applicable law and Plan Documents the Prospectus to a refund of a portion of the Creation and Sales Charge Charges previously imposed under the Plan, the Sponsor shall transmit funds to the order of the Custodian in an amount equal to the refundable amount calculated in accordance with applicable law and Plan Documentsthe Prospectus. The Custodian shall then refund the appropriate amount to the Planholder.