RECEIPT OF CONFIRMATION. Subject to the conditions that a duly completed Redemption Order is received by the Distributor from the AP on behalf of itself or another redeeming investor by the Listing Exchange Closing Time, the Distributor will accept the Redemption Order on behalf of the Trust and Distributor and will confirm in writing to the AP that its Redemption Order has been accepted within 45 minutes after the designated cutoff time on the Business Day the Redemption Order is received (e.g. 4:45 PM EST or 6:15 PM EST). Once the Redemption Order has been approved by the Distributor, the Distributor will sign or time-stamp the order and send the Redemption Order to the BNYM ETF Administrator.
Appears in 4 contracts
Samples: Authorized Participant Agreement (Virtus ETF Trust II), Authorized Participant Agreement (Reality Shares ETF Trust), Authorized Participant Agreement (ETFis Series Trust I)
