Redemption of Shares Pursuant to In-Kind Orders. The Redemption of Shares pursuant to In-Kind Orders shall take place only in compliance with the rules of this Section 3.01: (a) Authorized Participants wishing to redeem one or more Baskets shall place a Redemption Order with the Transfer Agent no later than the Order Cutoff Time on any Business Day. Redemption Orders received by the Transfer Agent on or after the Order Cutoff Time on any Business Day shall be considered rejected unless determined otherwise by the Sponsor in writing in its sole discretion. (b) The Trade Date for the Redemption of Shares pursuant to In-Kind Orders shall be the Order Date. (c) For purposes of Section 3.01(a) above, a Redemption Order shall be deemed received by the Transfer Agent only when either of the following has occurred no later than the Order Cutoff Time:
Appears in 4 contracts
Samples: Authorized Participant Agreement (Grayscale Ethereum Trust (ETH)), Authorized Participant Agreement (Grayscale Ethereum Mini Trust (ETH)), Authorized Participant Agreement (Grayscale Bitcoin Mini Trust (BTC))
