Same Business Day Creation and Redemption. Notwithstanding anything to the contrary contained herein, except as otherwise specifically advised by the Participant in writing to the Distributor and the Trust, the Participant represents and warrants on behalf of itself and any Participant Client that in the case of any Redemption Request that is placed on the same Business Day as any Creation Order is placed by the Participant for the same Series: (i) the Redeeming Shareholder is not the same Participant or Participant Client as the Creation Shareholder; (ii) the Redeeming Shareholder is not affiliated in any manner to or with the Creating Shareholder; (iii) the Redeeming Shareholder and the Creating Shareholder are acting for their own respective beneficial interests; (iv) the placing of such Redemption Request and such Creation Order is not for the beneficial interest of the same person; and (v) the placing of such Redemption Request and such Creation Order is not pursuant to any common plan, mutual agreement, or understanding.
Appears in 3 contracts
Samples: Authorized Participant Agreement (Cambria ETF Trust), Authorized Participant Agreement (Krane Shares Trust), Authorized Participant Agreement (Pyxis Funds I)
Same Business Day Creation and Redemption. Notwithstanding anything to the contrary contained herein, except as otherwise specifically advised by the Participant in writing to the Distributor and the Trust, the Participant represents and warrants on behalf of itself and any Participant Client that that, in the case of any Redemption Request that is placed on the same Business Day as any Creation Order is placed by the Participant for the same Series: (i) the Redeeming Shareholder is not the same Participant or Participant Client as the Creation Shareholder; (ii) the Redeeming Shareholder is not affiliated in any manner to or with the Creating Shareholder; (iii) the Redeeming Shareholder and the Creating Shareholder are acting for their own respective beneficial interests; (iv) the placing of such said Redemption Request and such said Creation Order is not for the beneficial interest of the same person; and (v) the placing of such said Redemption Request and such said Creation Order is not pursuant to any common plan, mutual agreement, or understanding.
Appears in 3 contracts
Samples: Authorized Participant Agreement (SEI Exchange Traded Funds), Authorized Participant Agreement (Advisors' Inner Circle Fund), Authorized Participant Agreement (Advisors' Inner Circle Fund III)
