Common use of Settlement of Placement Units Clause in Contracts

Settlement of Placement Units. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Units will occur on the second (2nd) Trading Day (or such earlier day as is industry practice for regular-way trading) following the date on which such sales are made (each, a “Settlement Date”). The Designated Agent shall notify the Manager of each sale of Placement Units no later than the opening of the Trading Day immediately following the Trading Day on which it has made sales of Placement Units hereunder. The amount of proceeds to be delivered to the Trust on a Settlement Date against receipt of the Placement Units sold (the “Net Proceeds”) will be equal to the aggregate sales price received by the Designated Agent, after deduction for (i) the Designated Agent’s commission, discount or other compensation for such sales payable by the Trust pursuant to Section 2 hereof, and (ii) any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales.

Settlement of Placement Units. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Units will occur on the second third (2nd3rd) Trading Day (or such earlier day as is industry practice for regular-way trading) following the date on which such sales are made (each, a “Settlement Date”). The Designated Agent shall notify the Manager of each sale of Placement Units no later than the opening of the Trading Day immediately following the Trading Day on which it has made sales of Placement Units hereunder. The amount of proceeds to be delivered to the Trust on a Settlement Date against receipt of the Placement Units sold (the “Net Proceeds”) will be equal to the aggregate sales price received by the Designated Agent, after deduction for (i) the Designated Agent’s commission, discount or other compensation for such sales payable by the Trust pursuant to Section 2 hereof, and (ii) any transaction fees imposed by any governmental or self-regulatory organization in respect of such sales.

Settlement of Placement Units. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Units will occur on the second (2nd) Trading Day (or such earlier day as is industry practice for regular-way trading) following the date on which such sales are made (each, a “Settlement Date”). The Designated Agent shall notify the Manager of each sale of Placement Units no later than the opening of the Trading Day immediately following the Trading Day on which it has made sales of Placement Units hereunder. The amount of proceeds to be delivered to the Trust on a Settlement Date against receipt of the Placement Units sold (the “Net Proceeds”) will be equal to the aggregate sales price received by the Designated Agent, after deduction for (i) the Designated Agent’s commission, discount or other compensation for such sales payable by the Trust pursuant to Section 2 hereof, and (ii) any documented transaction fees imposed by any governmental or self-regulatory organization in respect of such sales.

Settlement of Placement Units. Unless otherwise specified in the applicable Placement Notice, settlement for sales of Placement Units will occur on the second (2nd) Trading Day (or such earlier day as is industry practice for regular-way trading) following the date on which such sales are made (each, a “Settlement Date”). The Designated Agent shall notify the Manager of each sale of Placement Units no later than the opening of the Trading Day immediately following the Trading Day on which it has made sales of Placement Units hereunder. The amount of proceeds to be delivered to the Trust on a Settlement Date against receipt of the Placement Units sold (the “Net Proceeds”) will be equal to the aggregate sales price received by the Designated Agent, after deduction for (i) the Designated Agent’s commission, discount or other compensation for such sales payable by the Trust pursuant to Section 2 hereof, and (ii) any documented transaction fees imposed by any governmental or self-regulatory organization in respect of such sales.