STANDING REDEMPTION INSTRUCTIONS. Annex V hereto contains the AP’s Standing Redemption Instructions, which includes information identifying the account(s) into which Deposit Securities of each Fund and any other redemption proceeds should be delivered by Trust pursuant to a Redemption Order. This Annex II-Part C supplements the Fund’s Prospectus with respect to the procedures to be used by the Distributor and Transfer Agent in processing an order for the creation or redemption of shares of any Fund of the Trust. A. The AP is required to have (i) signed an Authorized Participant Agreement and (ii) assigned a personal identification number to each Authorized Person that the AP has authorized to act for such AP. This will allow an AP through its Authorized Person(s) to place a creation or redemption order with respect to shares of any Fund of the Trust. B. The AP and Distributor shall implement the “Funds Flow Process” as agreed to by the parties from time to time. C. Note that trades placed through the NSCC/DTC may only occur on any day that NSCC/DTC is open for business (“NSCC/DTC Business Day”). ORIGINATOR ACTIVITY 1. The AP calls on BBH’s ETF Administrator recorded number to place a Share Creation and/or Redemption order. These trades are to be placed by 4:00 PM EST on any Listing Exchange Business Day. 1. The BBH - ETF Administrator greets caller. 2. AP identifies his/her name, the Institution he/she represents, and PIN #. The AP states the Fund name(s) and relevant ticker symbol(s). AP will identify and list any securities that will not be delivered or received in kind. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system. 2 BBH - ETF Administrator will confirm the AP’s PIN #. The BBH - ETF Administrator records the PIN # and the order, and provides the AP with an order confirmation number. The order confirmation constitutes a binding order, which may only be reversed by the ETF Administrator, the Distributor or the Fund. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system. 3. AP will Fax a copy of the order form to the BBH ETF Administrator within 15 minutes from the time the call is made. The AP will provide, as a part of the order form, a statement confirming that the AP will not be placing trades that would raise the AP’s total holdings to 80% or more of any Fund The signed Order Form will be sent as the physical receipt for the AP that the order is confirmed. The above procedures will be repeated until all orders have been placed by the AP. 3. The BBH - ETF Administrator will receive a copy of the completed order form from the AP Faxed within within 15 minutes from the time the order is placed. All orders received from the AP’s are time stamped by the BBH - ETF Administrator at the time the order is placed The Distributor will verify that the appropriate disclaimers have been made by the AP and validate the disclaimer by calculating the AP’s position, including the subscriptions requested, to the total fund shares outstanding The Distributor will sign the Order Form and the signed Order Form will be sent as the physical receipt for the AP that the order is confirmed. 4. The AP receives the fax The AP will assume responsibility for an incorrect trade 4. The AP will assume responsibility for an incorrect trade and contact the ETF Administrator if necessary. If trades are corrected, the BBH - ETF Administrator will delete the first trade and reenter the corrected trade. A second affirmation will be faxed to the AP with all trades placed that day. The corrected trade will be coded on the affirmation so that the AP can see the correction. No corrections will be permitted after 4p.m. 5. EXCEPTION – International Settlements AP’s must deliver units for redemption orders no later than Trade Date Plus 1 in order to meet the affirmed order requirements placed the previous day. * Times may vary depending on the trade volume from APs. The following are the names, titles and signatures of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by this Agreement or any other notice, request or instruction on behalf of the AP pursuant to this Agreement. Name: Title: Signature: Name: Title: Signature: Name: Title: Signature: The undersigned, [name], [title], [Trust], does hereby certify that the persons listed above have been duly elected to the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons of this Institution in its capacity as an AP pursuant to the Agreement by and among Trust, , as Distributor and [name of the AP], dated [date] and that their signatures set forth above are their own true and genuine signatures. In Witness Whereof, the undersigned has hereby set his/her hand and the seal of [Trust]. Date: The Subcustodian accounts into which an AP should deposit the securities constituting the Deposit Securities of each International Fund of USCF ETF Trust are set forth below: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number:
Appears in 1 contract
STANDING REDEMPTION INSTRUCTIONS. Annex V hereto contains the AP’s 's Standing Redemption Instructions, which includes information identifying the account(s) into which Deposit Securities of each Fund and any other redemption proceeds should be delivered by Trust pursuant to a Redemption Order. ANNEX II — PART C TO AUTHORIZED PARTICIPANT AGREEMENT FOR ALPS ETF TRUST ALPS ETF TRUST FUNDS FLOW PROCESS This Annex II-Part C supplements the Fund’s Prospectus with respect to the procedures to be used by the Distributor and Transfer Agent in processing an order for the creation or redemption of shares Shares of any Fund of the Trust.
A. The AP is required to have (i) signed an Authorized Participant Agreement for Fund and (ii) assigned a personal identification number to each Authorized Person that the AP has authorized to act for such AP. This will allow an AP through its Authorized Person(s) to place a creation or redemption order with respect to shares Shares of any Fund of the Trust.
B. The AP and Distributor shall implement the “"Funds Flow Process” " as agreed to by the parties from time to time.
C. Note that trades placed through the NSCC/DTC may only occur on any day that NSCC/DTC is open for business (“NSCC/DTC Business Day”)) . FUNDS FLOW PROCESS ORIGINATOR ACTIVITY
1. The AP calls on BBHBNY’s ETF Administrator recorded number to place a Share Creation and/or Redemption order. These trades are to be placed by 4:00 PM EST on any Listing Exchange Business Day. 1. The BBH BNY - ETF Administrator greets caller.
2. AP identifies his/her name, the Institution he/she represents, and PIN #. 2 BNY - ETF Administrator will confirm the AP’s PIN #. The AP states the Fund name(s) and relevant ticker symbol(s). AP will identify and list any securities that will not be delivered or received in kind. The BNY - ETF Administrator records the PIN # and the order, and provides the AP with an order confirmation number. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system. 2 BBH - ETF Administrator will confirm the AP’s PIN #. The BBH - ETF Administrator records the PIN # and the order, and provides the AP with an order confirmation number. The order confirmation constitutes a binding order, which may only be reversed by the ETF Administrator, the Distributor or the Fund. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system.
3. AP will Fax a copy of the order form to the BBH BNY ETF Administrator within 15 minutes from the time the call is made. The AP will provide, as a part of the order form, a statement confirming that the AP will not be placing trades that would raise the AP’s total holdings to 80% or more of any Fund The signed Order Form will be sent as the physical receipt for the AP that the order is confirmed. The above procedures will be repeated until all orders have been placed by the AP. 3. The BBH BNY - ETF Administrator will receive a copy of the completed order form from the AP Faxed within within 15 minutes from the time the order is placed. All orders received from the AP’s are time stamped by the BBH - BNY – ETF Administrator at the time the order is placed The Distributor will verify that the appropriate disclaimers have been made by the AP and validate the disclaimer by calculating the AP’s position, including the subscriptions requested, to the total fund shares outstanding The Distributor will sign the Order Form and the signed Order Form will be sent as the physical receipt for the AP that the order is confirmed.
4. The AP receives the fax The AP will assume responsibility for an incorrect trade 4. The AP will assume responsibility for an incorrect trade and contact the ETF Administrator if necessary. If trades are corrected, the BBH BNY - ETF Administrator will delete the first trade and reenter the corrected trade. A second affirmation will be faxed to the AP with all trades placed that day. The corrected trade will be coded on the affirmation so that the AP can see the correction. No corrections will be permitted after 4p.m.
5. EXCEPTION – International Settlements AP’s must deliver units for redemption orders no later than Trade Date Plus 1 in order to meet the affirmed order requirements placed the previous day. * Times may vary depending on the trade volume from APs. The following are the names, titles and signatures of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by this Agreement or any other notice, request or instruction on behalf of the AP pursuant to this Agreement. Name: Title: Signature: Name: Title: Signature: Name: Title: Signature: The undersigned, [name], [title], [Trust], does hereby certify that the persons listed above have been duly elected to the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons of this Institution in its capacity as an AP pursuant to the Agreement by and among Trust, , as Distributor and [name of the AP], dated [date] and that their signatures set forth above are their own true and genuine signatures. In Witness Whereof, the undersigned has hereby set his/her hand and the seal of [Trust]. Date: The Subcustodian accounts into which an AP should deposit the securities constituting the Deposit Securities of each International Fund of USCF ETF Trust are set forth below: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number:.
Appears in 1 contract
Samples: Authorized Participant Agreement
STANDING REDEMPTION INSTRUCTIONS. Annex V hereto contains the AP’s Standing Redemption Instructions, which includes information identifying the account(s) into which Deposit Securities of each Fund and any other redemption proceeds should be delivered by Trust pursuant to a Redemption Order. This Annex II-Part C supplements the Fund’s Prospectus with respect to the procedures to be used by the Distributor and Transfer Agent in processing an order for the creation or redemption of shares Shares of any Fund of the Trust.
A. The AP is required to have (i) signed an Authorized Participant Agreement for Fund and (ii) assigned a personal identification number to each Authorized Person that the AP has authorized to act for such AP. This will allow an AP through its Authorized Person(s) to place a creation or redemption order with respect to shares Shares of any Fund of the Trust.
B. The AP and Distributor shall implement the “Funds Flow Process” as agreed to by the parties from time to time.
C. Note that trades placed through the NSCC/DTC may only occur on any day that NSCC/DTC is open for business (“NSCC/DTC Business Day”). ORIGINATOR ACTIVITY.
1. The AP calls on BBHBNY’s ETF Administrator recorded number to place a Share Creation and/or Redemption order. These trades are to be placed by 4:00 PM EST on any Listing Exchange Business Day. 1. The BBH BNY - ETF Administrator greets caller.
2. AP identifies his/her name, the Institution he/she represents, and PIN #. The AP states the Fund name(s) and relevant ticker symbol(s). AP will identify and list any securities that will not be delivered or received in kind. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system. 2 BBH BNY - ETF Administrator will confirm the AP’s PIN #. The BBH BNY - ETF Administrator records the PIN # and the order, and provides the AP with an order confirmation number. The order confirmation constitutes a binding order, which may only be reversed by the ETF Administrator, the Distributor or the Fund. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system.
3. AP will Fax a copy of the order form to the BBH BNY ETF Administrator within 15 minutes from the time the call is made. The AP will provide, as a part of the order form, a statement confirming that the AP will not be placing trades that would raise the AP’s total holdings to 80% or more of any Fund The signed Order Form will be sent as the physical receipt for the AP that the order is confirmed. The above procedures will be repeated until all orders have been placed by the AP. 3. The BBH BNY - ETF Administrator will receive a copy of the completed order form from the AP Faxed within within 15 minutes from the time the order is placed. All orders received from the AP’s are time stamped by the BBH - BNY – ETF Administrator at the time the order is placed The Distributor will verify that the appropriate disclaimers have been made by the AP and validate the disclaimer by calculating the AP’s position, including the subscriptions requested, to the total fund shares outstanding The Distributor will sign the Order Form and the signed Order Form will be sent as the physical receipt for the AP that the order is confirmed.
4. The AP receives the fax The AP will assume responsibility for an incorrect trade 4. The AP will assume responsibility for an incorrect trade and contact the ETF Administrator if necessary. If trades are corrected, the BBH BNY - ETF Administrator will delete the first trade and reenter the corrected trade. A second affirmation will be faxed to the AP with all trades placed that day. The corrected trade will be coded on the affirmation so that the AP can see the correction. No corrections will be permitted after 4p.m.
5. EXCEPTION – International Settlements AP’s must deliver units for redemption orders no later than Trade Date Plus 1 in order to meet the affirmed order requirements placed the previous day. * Times may vary depending on the trade volume from APs. The following are the names, titles and signatures of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by this Agreement or any other notice, request or instruction on behalf of the AP pursuant to this Agreement. Name: Title: Signature: Name: Title: Signature: Name: Title: Signature: The undersigned, [name], [title], [Trust], does hereby certify that the persons listed above have been duly elected to the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons of this Institution in its capacity as an AP pursuant to the Agreement by and among Trust, , as Distributor and [name of the AP], dated [date] and that their signatures set forth above are their own true and genuine signatures. In Witness Whereof, the undersigned has hereby set his/her hand and the seal of [Trust]. Date: The Subcustodian accounts into which an AP should deposit the securities constituting the Deposit Securities of each International Fund of USCF ETF Trust are set forth below: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number:.
Appears in 1 contract
STANDING REDEMPTION INSTRUCTIONS. Annex V hereto contains the AP’s Standing Redemption Instructions, which includes information identifying the account(s) into which Deposit Securities of each Fund and any other redemption proceeds should be delivered by Trust pursuant to a Redemption Order. FOR FRANKLIN ETF TRUST This Annex II-II – Part C supplements the Fund’s Prospectus with respect to the procedures to be used by the Distributor and the Transfer Agent in processing an order for the creation or redemption of shares Shares of any Fund of the Trust.
A. The AP is required to have (i) signed an Authorized Participant Agreement for a Fund and (ii) assigned a personal identification (PIN) number to each Authorized Person that the AP has authorized to act for such AP. This will allow an AP through its Authorized Person(s) to place a creation or redemption order with respect to shares Shares of any Fund of the Trust. The Transfer Agent agrees promptly to de-activate a PIN upon receipt of written notice, including by electronic mail, by an AP that an individual to whom a PIN was assigned is no longer an Authorized Person.
B. The AP and the Distributor shall implement the “Funds Flow Process” as agreed to by the parties from time to time.
C. Note that trades placed through the NSCC/DTC may only occur on any day that NSCC/DTC is open for business (“NSCC/DTC Business Day”). ORIGINATOR ACTIVITY.
1. The AP calls on BBHthe BNYM ETF Administrator’s ETF Administrator recorded number to place a Share Creation Purchase Order and/or a Redemption orderOrder. These trades are to be placed by 4:00 PM EST p.m. Eastern time on any a Listing Exchange Business Day. .
1. The BBH - BNYM ETF Administrator greets caller.
2. The AP identifies his/her name, the Institution institution he/she represents, and PIN #Number. The AP states the Fund name(s) and relevant ticker symbol(s). The AP will identify and list any securities that will not be delivered or received in kind. The AP will make alternate arrangements with the BNYM ETF Administrator to deliver or receive the value for those securities that cannot be delivered. The AP and BNYM ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system.
2. 2 BBH - The BNYM ETF Administrator will confirm the AP’s PIN #Number. The BBH - BNYM ETF Administrator records the PIN # Number and the order, and provides the AP with an order confirmation number. The order confirmation constitutes a binding order, which may only be reversed by the BNYM ETF Administrator, the Distributor or the FundFund for the reasons set forth in the Authorized Participant Agreement. The AP will make alternate arrangements with the BNYM ETF Administrator to deliver or receive the value for those securities that cannot be delivered. The AP and the BNYM ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system.
3. The AP will Fax fax a copy of the order form to the BBH BNYM ETF Administrator within 15 minutes from the time the call is made. The AP will provide, as a part of the order form, a statement confirming that the AP will not be placing trades that would raise the AP’s total holdings to 80% or more of any Fund The signed Order Form will be sent as the physical receipt for the AP that the order is confirmed. The above procedures will be repeated until all orders have been placed by the AP. 3. The BBH - BNYM ETF Administrator will receive a copy of the completed order form from the AP Faxed within faxed within 15 minutes from the time the order is placed. All orders received from the AP’s AP are time stamped by the BBH - BNYM ETF Administrator at the time the order is placed placed. The Distributor will verify that the appropriate disclaimers have been made by the AP and validate the disclaimer by calculating the AP’s position, including the subscriptions requested, to the total fund shares outstanding outstanding. The Distributor will sign the Order Form and the signed Order Form will be sent as the physical receipt for the AP that the order is confirmedconfirmed and approved.
4. The AP receives the fax The AP will assume responsibility for an incorrect trade 4. The AP will assume responsibility for an incorrect trade and contact the ETF Administrator if necessary. If trades are corrected, the BBH - ETF Administrator will delete the first trade and reenter the corrected trade. A second affirmation will be faxed to the AP with all trades placed that day. The corrected trade will be coded on the affirmation so that the AP can see the correction. No corrections will be permitted after 4p.m.
5. EXCEPTION – International Settlements AP’s must deliver units for redemption orders no later than Trade Date Plus 1 in order to meet the affirmed order requirements placed the previous day. * Times may vary depending on the trade volume from APs. The following are the names, titles and signatures of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by this Agreement or any other notice, request or instruction on behalf of the AP pursuant to this Agreement. Name: Title: Signature: Name: Title: Signature: Name: Title: Signature: The undersigned, [name], [title], [Trust], does hereby certify that the persons listed above have been duly elected to the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons of this Institution in its capacity as an AP pursuant to the Agreement by signed and among Trust, , as Distributor and [name of the AP], dated [date] and that their signatures set forth above are their own true and genuine signatures. In Witness Whereof, the undersigned has hereby set his/her hand and the seal of [Trust]. Date: The Subcustodian accounts into which an AP should deposit the securities constituting the Deposit Securities of each International Fund of USCF ETF Trust are set forth below: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number:approved Order Form.
Appears in 1 contract
Samples: Authorized Participant Agreement (Franklin ETF Trust)
STANDING REDEMPTION INSTRUCTIONS. Annex V hereto contains the AP’s 's Standing Redemption Instructions, which includes information identifying the account(s) into which Deposit Securities of each Fund and any other redemption proceeds should be delivered by Trust pursuant to a Redemption Order. This Annex II-Part C supplements the Fund’s Prospectus with respect to the procedures to be used by the Distributor and Transfer Agent in processing an order for the creation or redemption of shares Shares of any Fund of the Trust.
A. The AP is required to have (i) signed an Authorized Participant Agreement for Fund and (ii) assigned a personal identification number to each Authorized Person that the AP has authorized to act for such AP. This will allow an AP through its Authorized Person(s) to place a creation or redemption order with respect to shares Shares of any Fund of the Trust.
B. The AP and Distributor shall implement the “"Funds Flow Process” " as agreed to by the parties from time to time.
C. Note that trades placed through the NSCC/DTC may only occur on any day that NSCC/DTC is open for business (“NSCC/DTC Business Day”). ORIGINATOR ACTIVITY) .
1. The AP calls on BBHBNY’s ETF Administrator recorded number to place a Share Creation and/or Redemption order. These trades are to be placed by 4:00 PM EST on any Listing Exchange Business Day. 1. The BBH BNY - ETF Administrator greets caller.
2. AP identifies his/her name, the Institution he/she represents, and PIN #. 2 BNY - ETF Administrator will confirm the AP’s PIN #. The AP states the Fund name(s) and relevant ticker symbol(s). AP will identify and list any securities that will not be delivered or received in kind. The BNY - ETF Administrator records the PIN # and the order, and provides the AP with an order confirmation number. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system. 2 BBH - ETF Administrator will confirm the AP’s PIN #. The BBH - ETF Administrator records the PIN # and the order, and provides the AP with an order confirmation number. The order confirmation constitutes a binding order, which may only be reversed by the ETF Administrator, the Distributor or the Fund. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system.
3. AP will Fax a copy of the order form to the BBH BNY ETF Administrator within 15 minutes from the time the call is made. The AP will provide, as a part of the order form, a statement confirming that the AP will not be placing trades that would raise the AP’s total holdings to 80% or more of any Fund The signed Order Form will be sent as the physical receipt for the AP that the order is confirmed. The above procedures will be repeated until all orders have been placed by the AP. 3. The BBH BNY - ETF Administrator will receive a copy of the completed order form from the AP Faxed within within 15 minutes from the time the order is placed. All orders received from the AP’s are time stamped by the BBH - BNY – ETF Administrator at the time the order is placed The Distributor will verify that the appropriate disclaimers have been made by the AP and validate the disclaimer by calculating the AP’s position, including the subscriptions requested, to the total fund shares outstanding The Distributor will sign the Order Form and the signed Order Form will be sent as the physical receipt for the AP that the order is confirmed.
4. The AP receives the fax The AP will assume responsibility for an incorrect trade 4. The AP will assume responsibility for an incorrect trade and contact the ETF Administrator if necessary. If trades are corrected, the BBH BNY - ETF Administrator will delete the first trade and reenter the corrected trade. A second affirmation will be faxed to the AP with all trades placed that day. The corrected trade will be coded on the affirmation so that the AP can see the correction. No corrections will be permitted after 4p.m.
5. EXCEPTION – International Settlements AP’s must deliver units for redemption orders no later than Trade Date Plus 1 in order to meet the affirmed order requirements placed the previous day. * Times may vary depending on the trade volume from APs. The following are the names, titles and signatures of all persons (each an “Authorized an"Authorized Person”") authorized to give instructions relating to any activity contemplated by this Agreement or any other notice, request or instruction on behalf of the AP pursuant to this Agreement. Name: Title: Signature: Name: Title: Signature: Name: Title: Signature: The undersigned, [name], [title], [Trust], does hereby certify that the persons listed above have been duly elected to the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons of this Institution in its capacity as an AP pursuant to the Agreement by and among Trust, , as Distributor and [name of the AP], dated [date] and that their signatures set forth above are their own true and genuine signatures. In Witness Whereof, the undersigned has hereby set his/her hand and the seal of [Trust]. Date: The Subcustodian accounts into which an AP should deposit the securities constituting the Deposit Securities of each International Fund of USCF ALPS ETF Trust trust. are set forth below: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number: [name of Fund] Account Name: Account Number: Other Reference Number:
Appears in 1 contract
STANDING REDEMPTION INSTRUCTIONS. Annex V hereto contains the AP’s Standing Redemption Instructions, which includes information identifying the account(s) into which Deposit Securities of each Fund and any other redemption proceeds should be delivered by Trust Company pursuant to a Redemption Order. This Annex II-Part C supplements the Fund’s Prospectus with respect to the procedures to be used by the Distributor and Transfer Agent in processing an order for the creation or redemption of shares Shares of any Fund of the TrustCompany.
A. The AP is required to have (i) signed an Authorized Participant Agreement for Fund and (ii) assigned a personal identification number to each Authorized Person that the AP has authorized to act for such AP. This will allow an AP through its Authorized Person(s) to place a creation or redemption order with respect to shares Shares of any Fund of the TrustCompany.
B. The AP and Distributor shall implement the “Funds Flow Process” as agreed to by the parties from time to time.
C. Note that trades placed through the NSCC/DTC may only occur on any day that NSCC/DTC is open for business (“NSCC/DTC Business Day”). ORIGINATOR ACTIVITY.
1. The AP calls on BBH’s ‘s ETF Administrator recorded number to place a Share Creation and/or Redemption order. These trades are to be placed by 4:00 PM EST on any Listing Exchange Business Day. .
1. The BBH - ETF Administrator greets caller.
2. AP identifies his/her name, the Institution he/she represents, and PIN #. The AP states the Fund name(s) and relevant ticker symbol(s). AP will identify and list any securities that will not be delivered or received in kind. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system. 2 BBH - ETF Administrator will confirm the AP’s PIN #. The BBH - ETF Administrator records the PIN # and the order, and provides the AP with an order confirmation number. The order confirmation constitutes a binding order, which may only be reversed by the ETF Administrator, the Distributor or the Fund. AP will make alternate arrangements with the ETF Administrator to deliver or receive the value for those securities that cannot be delivered. AP and ETF Administrator will exchange delivery or receive instructions for any security being delivered outside of the CNS system.
3. AP will Fax a copy of the order form to the BBH ETF Administrator within 15 minutes from the time the call is made. The AP will provide, as a part of the order form, a statement confirming that the AP will not be placing trades that would raise the AP’s total holdings to 80% or more of any Fund The signed Order Form will be sent as the physical receipt for the AP that the order is confirmed. The above procedures will be repeated until all orders have been placed by the AP. 3. The BBH - ETF Administrator will receive a copy of the completed order form from the AP Faxed within within 15 minutes from the time the order is placed. All orders received from the AP’s are time stamped by the BBH - – ETF Administrator at the time the order is placed The Distributor will verify that the appropriate disclaimers have been made by the AP and validate the disclaimer by calculating the AP’s position, including the subscriptions requested, to the total fund shares outstanding The Distributor will sign the Order Form and the signed Order Form will be sent as the physical receipt for the AP that the order is confirmed.
4. The AP receives the fax The AP will assume responsibility for an incorrect trade 4. The AP will assume responsibility for an incorrect trade and contact the ETF Administrator if necessary. If trades are corrected, the BBH - ETF Administrator will delete the first trade and reenter the corrected trade. A second affirmation will be faxed to the AP with all trades placed that day. The corrected trade will be coded on the affirmation so that the AP can see the correction. No corrections will be permitted after 4p.m.
5. EXCEPTION – International Settlements AP’s must deliver units for redemption orders no later than Trade Date Plus 1 in order to meet the affirmed order requirements placed the previous day. * Times may vary depending on the trade volume from APs. The following are the names, titles and signatures of all persons (each an “Authorized Person”) authorized to give instructions relating to any activity contemplated by this Agreement or any other notice, request or instruction on behalf of the AP pursuant to this Agreement. Name: _____________________ Title: ______________________ Signature: __________________ Name: _____________________ Title: ______________________ Signature: __________________ Name: _____________________ Title: ______________________ Signature: __________________ The undersigned, [name], [title], [Trustcompany], does hereby certify that the persons listed above have been duly elected to the offices set forth beneath their names, that they presently hold such offices, that they have been duly authorized to act as Authorized Persons of this Institution in its capacity as an AP pursuant to the Agreement by and among Trust_____________ Company, --------------, as Distributor and [name of the AP], dated [date] and that their signatures set forth above are their own true and genuine signatures. In Witness Whereof, the undersigned has hereby set his/her hand and the seal of [Trustcompany]. Date: _________________ ___________________ [name, title] The Subcustodian accounts into which an AP the _______, Inc. should deposit the securities constituting the Deposit Securities of each International Fund of USCF ETF Trust upon redemption by the AP are set forth below: [name Name of Fund] AP: __________________ Account Name: __________________ Account Number: __________________ Other Reference Number: [name __________________ This Annex shall govern use by Authorized Participant of Fund] Account Name: Account Number: Other Reference Number: [name the electronic order entry system for placing Purchase Orders and Redemption Orders for Shares (the “System”). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Authorized Participant Agreement (the “AP Agreement”). In the event of Fund] Account Name: Account Number: Other Reference Number: [name any conflict between the terms of Fund] Account Name: Account Number: Other Reference Number: [name this Annex V and the main body of Fund] Account Name: Account Number: Other Reference Number: [name the AP Agreement with respect to the placing of Fund] Account Name: Account Number: Other Reference Number:Purchase Orders and Redemption Orders, the terms of this Annex V shall control.
(a) Authorized Participant shall provide to the Transfer Agent a duly executed authorization letter, in a form satisfactory to Transfer Agent, identifying those Authorized Persons who will access the System. Authorized Participant shall notify the Transfer Agent in writing in the event that any person’s status as an Authorized Person is revoked or terminated as soon as possible, in order to give the Transfer Agent a reasonable opportunity to terminate such Authorized Person’s access to the System.
(b) It is understood and agreed that each Authorized Person shall be designated as an authorized user of Authorized Participant for the purpose of the AP Agreement. Upon termination of the AP Agreement, the Authorized Participant’s and each Authorized Person’s access rights with respect to System shall be immediately revoked.
2. Transfer Agent grants to Authorized Participant a personal, nontransferable and nonexclusive license to use the System solely for the purpose of transmitting Purchase Orders and Redemption Orders and otherwise communicating with Transfer Agent in connection with the same. Authorized Participant shall use the System solely for its own internal and proper business purposes. Except as set forth herein, no license or right of any kind is granted to Authorized Participant with respect to the System. Authorized Participant acknowledges that Transfer Agent and its suppliers retain and have title and exclusive proprietary rights to the System. Authorized Participant further acknowledges that all or a part of the System may be copyrighted or trademarked (or a registration or claim made therefor) by Transfer Agent or its suppliers. Authorized Participant shall not take any action with respect to the System inconsistent with the foregoing acknowledgments. Authorized Participant may not copy, distribute, sell, lease or provide, directly or indirectly, the System or any portion thereof to any other person or entity without Transfer Agent’s prior written consent. Authorized Participant may not remove any statutory copyright notice or other notice included in the System. Authorized Participant shall reproduce any such notice on any reproduction of any portion of the System and shall add any statutory copyright notice or other notice upon Transfer Agent’s request.
(a) Authorized Participant acknowledges that any user manuals or other documentation (whether in hard copy or electronic form) (collectively, the “Material”), which is delivered or made available to Authorized Participant regarding the System is the exclusive and confidential property of Transfer Agent. Authorized Participant shall keep the Material confidential by using the same care and discretion that Authorized Participant uses with respect to its own confidential property and trade secrets, but in no event less than reasonable care. Authorized Participant may make such copies of the Material as is reasonably necessary for Authorized Participant to use the System and shall reproduce Transfer Agent’s proprietary markings on any such copy. The foregoing shall not in any way be deemed to affect the copyright status of any of the Material which may be copyrighted and shall apply to all Material whether or not copyrighted. TRANSFER AGENT AND ITS SUPPLIERS MAKE NO WARRANTIES, EXPRESS OR IMPLIED, CONCERNING THE MATERIAL OR ANY PRODUCT OR SERVICE, INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
(b) Upon termination of the Agreement for any reason, Authorized Participant shall return to Transfer Agent all copies of the Material which is in Authorized Participant’s possession or under its control.
3. Authorized Participant agrees that it shall have sole responsibility for maintaining adequate security and control of the user IDs, passwords and codes for access to the System, which shall not be disclosed to any third party without the prior written consent of Transfer Agent. Transfer Agent shall be entitled to rely on the information received by it from the Authorized Participant and Transfer Agent may assume that all such information was transmitted by or on behalf of an Authorized Person regardless of by whom it was actually transmitted.
4. Transfer Agent shall have no liability in connection with the use of the System, the access granted to the Authorized Participant and its Authorized Persons hereunder, or any transaction effected or attempted to be effected by the Authorized Participant hereunder, except for damages incurred by the Authorized Participant as a direct result of Transfer Agent’s gross negligence or willful misconduct. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, IT IS HEREBY AGREED THAT IN NO EVENT SHALL TRANSFER AGENT OR ANY MANUFACTURER OR SUPPLIER OF EQUIPMENT, SOFTWARE OR SERVICES BE RESPONSIBLE OR LIABLE FOR ANY SPECIAL, INDIRECT, OR CONSEQUENTIAL DAMAGES WHICH THE AUTHORIZED PARTICIPANT MAY INCUR OR EXPERIENCE BY REASON OF ITS HAVING ENTERED INTO OR RELIED ON THIS AGREEMENT, OR IN CONNECTION WITH THE ACCESS GRANTED TO AUTHORIZED PARTICIPANT HEREUNDER, OR ANY TRANSACTION EFFECTED OR ATTEMPTED TO BE EFFECTED BY AUTHORIZED PARTICIPANT HEREUNDER, EVEN IF TRANSFER AGENT OR SUCH MANUFACTURER OR SUPPLIER HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, NOR SHALL TRANSFER AGENT OR ANY SUCH MANUFACTURER OR SUPPLIER BE LIABLE FOR ACTS OF GOD, MACHINE OR COMPUTER BREAKDOWN OR MALFUNCTION, INTERRUPTION OR MALFUNCTION OF COMMUNICATION FACILITIES, LABOR DIFFICULTIES OR ANY OTHER SIMILAR OR DISSIMILAR CAUSE BEYOND SUCH PERSON’S REASONABLE CONTROL.
5. Transfer Agent reserves the right to revoke Authorized Participant’s access to the System immediately and without notice upon any breach by the Authorized Participant of the terms and conditions of this Annex V.
6. Transfer Agent shall acknowledge through the System its receipt of each Purchase Order or Redemption Order communicated through the System, and in the absence of such acknowledgment Transfer Agent shall not be liable for any failure to act in accordance with such orders and Authorized Participant may not claim that such Purchase Order or Redemption Order was received by Transfer Agent. Transfer Agent may in its discretion decline to act upon any instructions or communications that are insufficient or incomplete or are not received by Transfer Agent in sufficient time for Transfer Agent to act upon, or in accordance with such instructions or communications.
7. Authorized Participant agrees to use reasonable efforts to prevent the transmission through the System of any software or file which contains any viruses, worms, harmful component or corrupted data and agrees not to use any device, software, or routine to interfere or attempt to interfere with the proper working of the Systems.
8. Authorized Participant acknowledges and agrees that encryption may not be available for every communication through the System, or for all data. Authorized Participant agrees that Transfer Agent may deactivate any encryption features at any time, without notice or liability to Authorized Participant, for the purpose of maintaining, repairing or troubleshooting its systems.
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