Authorized Participant definition

Authorized Participant means a Person that, at the time of submitting a Purchase Order or a Redemption Order (i) is a registered broker-dealer, (ii) is a DTC Participant or an Indirect Participant and (iii) has in effect a valid Authorized Participant Agreement.

Authorized Participant shall have the meaning ascribed to the term in the introductory paragraph of the Authorized Participant Agreement.

Authorized Participant means any entity that (i) is a registered broker-dealer and a member in good standing with the NASD, or a participant in the securities markets such as a bank or other financial institution that is not required to register as a broker-dealer or be a member of the NASD in order to engage in securities transactions, (ii) is a participant in DTC or has indirect access to the clearing facilities of DTC by virtue of a custodial relationship with a DTC Participant, (iii) is not a Benefit Plan Investor and (iv) has entered into a Participants Agreement.

Examples of Authorized Participant in a sentence

• This Agreement may be terminated at any time by any party upon sixty (60) calendar days’ prior written notice to the other parties and may be terminated earlier by the Trust or the Distributor at any time in the event of a breach by the Authorized Participant of any provision of this Agreement or the procedures described or incorporated herein.

• This Agreement may be terminated immediately by a party at such time as the Trust, the Distributor or the Authorized Participant becomes insolvent or becomes the subject of a bankruptcy proceeding or winding up Additionally, this Agreement may be terminated immediately by a party with respect to a Fund upon the liquidation of such Fund.

• The Authorized Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent or its designee and reported to NSCC as though such instructions were issued by the Authorized Participant directly to NSCC.

• The Authorized Participant may require its customer to enter into a written agreement with the Authorized Participant with respect to such matters.

• An Order is not complete until it has been approved by both the Authorized Participant and the Distributor under the terms of the Prospectus and the Agreement, in accordance with the procedures outlined below.

More Definitions of Authorized Participant

Authorized Participant means an individual or institution that has entered into an Authorized Participant Agreement with the Trust and the Trust’s Distributor that is authorized to purchase and redeem Creation Units of Funds within the Trust.

Authorized Participant means an entity that:·is a registered broker-dealer and a member in good standing with the Financial Industry Regulatory Authority (“FINRA”), or a participant in the securities markets such as a bank or other financial institution that is not required to register as a broker-dealer or be a member of FINRA in order to engage in securities transactions; ·is a participant in DTC or has indirect access to the clearing facilities of DTC by virtue of a custodial relationship with a DTC participant; and ·has entered into a Participants Agreement.

Authorized Participant. ’ means a financial institu-

Authorized Participant means a broker-dealer or other participant in the Continuous Net Settlement System of the National Securities Clearing Corporation (NSCC) or a participant in DTC with access to the DTC system, who has executed an agreement with the Distributor that governs transactions in the Funds’ Creation Units.

Authorized Participant means a Person that, at the time of submitting to the Administrative Trustee, or any trust administrator appointed by the Administrative Trustee, a Purchase Order or a Redemption Order (a) is a registered broker-dealer and, if required in connection with its activities, a registered futures commission merchant, (b) is a DTC Participant, (c) has in effect a valid Authorized Participant Agreement and (d) is in a position to transfer CERFs and the required Short-Term Securities or cash to, or take delivery of these assets from, the Administrative Trustee through one or more accounts.

Authorized Participant shall have the meaning ascribed to the term in Section 1.1 of the Trust Agreement.

Authorized Participant means a Person that is a DTC participant and has entered into an Authorized Participant Agreement which, at the relevant time, is in full force and effect.