Redemption Order Sample Clauses
Redemption Order. Unless the T-1 Purchase Order or T-1 Redemption Order is received by the Transfer Agent upon the earlier of (i) within 15 minutes of contact with the Participant or (ii) 45 minutes after the T-1 Order Cut-Off Time, the Order will be deemed invalid. NOTE: A T-1 PURCHASE ORDER OR T-1 REDEMPTION ORDER IS NOT COMPLETE UNTIL THE TRANSFER AGENT ISSUES AN ORDER NUMBER. AN ORDER MAY NOT BE CANCELED BY AN AUTHORIZED PERSON AFTER AN ORDER NUMBER HAS BEEN ISSUED. INCOMING TELEPHONE CALLS ARE QUEUED AND WILL BE HANDLED IN THE ORDER RECEIVED. A CALL THAT IS PLACED BEFORE THE T-1 ORDER CUT-OFF TIME WILL BE PROCESSED EVEN IF THE CALL IS ANSWERED BY THE TRANSFER AGENT AFTER THE T-1 ORDER CUT-OFF TIME. ACCORDINGLY, THE AUTHORIZED PERSON SHOULD NOT HANG UP AND REDIAL. INCOMING CALLS THAT ARE RECEIVED AFTER THE T-1 ORDER CUT-OFF TIME WILL NOT BE ANSWERED BY THE TRANSFER AGENT. ALL TELEPHONE CALLS MAY BE RECORDED BY THE TRANSFER AGENT. THE TELEPHONE CALL IN WHICH THE ORDER NUMBER IS ISSUED INITIATES THE ORDER PROCESS BUT DOES NOT ALONE CONSTITUTE THE ORDER. AN ORDER IS ONLY COMPLETED AND PROCESSED UPON RECEIPT OF WRITTEN INSTRUCTIONS CONTAINING THE DESIGNATED ORDER NUMBER AND AUTHORIZED PERSON’S SIGNATURE AND TRANSMITTED BY FACSIMILE. ONCE AN ORDER NUMBER IS ISSUED, A T-1 PURCHASE ORDER OR A T-1 REDEMPTION ORDER CANNOT BE CANCELED BY THE PARTICIPANT.
Redemption Order. (a) Except as otherwise provided for herein, all orders to exchange Tradeable Shares into Holding Shares and concurrently redeem such Holding Shares as one or more MACRO Units based on the default procedure or to redeem Holding Shares pursuant to instructions submitted by the Authorized Participant for cash or for cash and/or Eligible Treasuries shall be made in accordance with the terms of the applicable Trust Agreements, this Participants Agreement and the Redemption Procedures. Each party will comply with such foregoing terms and procedures to the extent applicable. Each Authorized Participant hereby consents to the use of recorded telephone lines whether or not such use is reflected in the Redemption Procedures. The applicable Trustee, the Administrative Agent and the Depositor may issue additional or other procedures from time to time relating to the manner of exchanging Tradeable Shares and concurrently redeeming such shares as part of one or more MACRO Units or redeeming Paired Holding Shares consisting of one or more MACRO Units which are not related to the Redemption Procedures, and each Authorized Participant shall comply with such procedures.
(b) Each Authorized Participant acknowledges and agrees on behalf of itself and any party for which it is acting (whether such party is a customer or otherwise) that each order to exchange Tradeable Shares into Holding Shares and concurrently redeem such Holding Shares or to redeem Holding Shares as one or more MACRO Units for cash or for cash and/or Eligible Treasuries (a "Redemption Order") may not be revoked by such Authorized Participant after the placement and acceptance of such order with the Administrative Agent. Such Orders shall be a binding obligation of the Authorized Participant that placed such Order. A form of Redemption Order is attached hereto as EXHIBIT C (a "Redemption Order Form"). The Redemption Order Form shall not be required if such Redemption Order is conducted through the electronic facilities of the Administrative Agent; provided, however, that the Administrative Agent, in its sole discretion, may require the use of the Redemption Order Form for any reason as an alternative for its electronic facilities. The information required by such electronic facilities shall be substantially similar to the information on the Redemption Order Form attached hereto.
(c) The Administrative Agent and the Depositor shall each have the absolute right but shall have no obligation to reject any Redemp...
Redemption Order. The Authorized Participant shall indicate through the Administrative Agent's electronic facilities the following information: