Common use of Transmit the Submission Clause in Contracts

Transmit the Submission. A Submission Number is only valid for a limited time. The Submission for either creations or redemptions of Shares must be sent by facsimile to the Trust Representative within 15 minutes of the issuance of the Submission Number. In the event that the Submission is not received within such time period, the Trust Representative will attempt to contact the Participant to request immediate transmission of the Submission. (a) In the case of a Submission for creation on T+0 processing, unless the Submission is received by the Trust Representative upon the earlier of within (i) 15 minutes of contact with the Participant or (ii) 15 minutes after 12:00 p.m. Eastern time, the Submission will be deemed received for T+1 processing. (b) In the case of a Submission for creation on T+1 processing, unless the Submission is received by the Trust Representative upon the earlier of within (i) 15 minutes of contact with the Participant or (ii) 15 minutes after NYSE Closing Time, the Submission will be deemed invalid. (c) In the case of a Submission for redemption on T+0 processing, unless such Submission is received by the Trust Representative within (i) 15 minutes of contact with the Participant or (ii) 15 minutes after the 12:00 p.m. Eastern time, whichever is earlier, the Submission will be deemed received for T+1 processing. (d) In the case of a Submission for redemption on T+1 processing, unless such Submission is received by the Trust Representative within (i) 15 minutes of contact with the Participant or (ii) 15 minutes after the NYSE Closing Time, whichever is earlier, such order for redemption contained therein shall be received in proper form (as described in the Prospectus) by the Transfer Agent on the Business Day following such Transmittal Date in accordance with the procedures set forth below or in the Fund’s Prospectus as the case may be.