Contractual Settlement Date definition
Contractual Settlement Date means the date as specified in the Prospectus or in the Participant Supplement upon which delivery of Deposit Instruments, Shares and/or any Cash Balancing Amount and/or Cash Component, as applicable, must be made by the Participant to the Trust.
Contractual Settlement Date is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to the Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction where any of the securities of the relevant Fund are customarily traded. A Creation Unit of Shares will not be issued until the transfer of good title to the Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the applicable Transaction Fee have been completed. When the sub-custodian confirms to the Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of the Trust, the cash value thereof) have been delivered to the account of the relevant sub-custodian, the Custodian shall notify the Distributor and Transfer Agent, and the Trust will issue and cause the delivery of the Creation Unit of Shares via DTC.
Contractual Settlement Date has the meaning given in Section 1.10;
Examples of Contractual Settlement Date in a sentence
The Participant understands that a Creation Unit will not be issued until the requisite Deposit Instruments, the Cash Balancing Amount (including, where applicable, cash in the amount required for a cash purchase) and the Cash Component, including applicable transaction fees, are transferred to the Trust on or before the Contractual Settlement Date for the Order.
The Participant hereby agrees to ensure that the Cash Balancing Amount and/or Cash Component will be received by the Trust in immediately available same day funds on or before the Contractual Settlement Date as may be designated by the Trust.
More Definitions of Contractual Settlement Date
Contractual Settlement Date is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to the Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction where any of the securities of the relevant Fund are customarily traded. A Creation Unit of Shares will not be issued until the transfer of good title to the Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the applicable Transaction Fee have been completed. When the sub-custodian confirms to the Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of the Trust, the cash value thereof) have been delivered to the account of the relevant sub-custodian, which confirmation shall be done promptly after such delivery, the Custodian shall notify the Distributor and Transfer Agent, and the Trust will issue and cause the delivery of the Creation Unit of Shares via DTC. In the event that Participant is unable to deliver the Deposit Securities because the country does not permit “free delivery of securities” then the Participant shall deliver such amounts of cash in lieu of securities as described in the Fund’s Prospectus.
Contractual Settlement Date is the earlier of (i) the date upon which all of the Deposit Securities are delivered to Participant and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction where the any of securities of the iShares Series are customarily traded. Deliveries of redemption proceeds by the iShares Series generally will be made within three Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds may take longer than three Business Days after the day on which the Redemption Order is placed Except as provided in the next two paragraphs, the Deposit Securities will not be issued until the transfer of good title to Fund of the required iShares aggregation has been completed. When the subcustodian confirms to Custodian that the required iShares (or, when permitted in the sole discretion of Fund, the cash value thereof) have been delivered to the account of the relevant subcustodian, Custodian shall notify Distributor and Adviser, and Fund will issue and cause the delivery of the Deposit Securities. Fund may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "cash in lieu" amount will be delivered, Distributor will notify Participant and Participant shall receive, on behalf of itself or the party on whose behalf it is acting, the "cash in lieu" amount, with any appropriate adjustments as advised by Fund. In the event that an aggregation of iShares is incomplete on the settlement date for a Redemption Unit of iShares, the Fund will issue the Deposit Securities notwithstanding such deficiency in reliance on the undertaking of Participant to deliver the missing iShares as soon as possible, which undertaking shall be secured by such Participant's delivery and maintenance of collateral consisting of cash having a value at least equal to 125% of the value of the missing iShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant by Distributor upon request. The parties hereto further agree that Fund may purchase the missing iShares at any time and Participant agrees to accept liability ...
Contractual Settlement Date is the settlement-date, the date by which a buyer must pay for the securities delivered by the seller, that is established at the time of trade execution, based on trading exchange defined settlement periods.
Contractual Settlement Date with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to the Fund and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction(s) where any of the securities of such International Fund are customarily traded.
Contractual Settlement Date means the date as specified in the Prospectus and the Procedures Handbook upon which delivery of Deposit Securities must be made to the Fund. 1.16 “Creation Unit” shall have the meaning set forth in Section 2.01. 1.17 “Custodian” means the Fund’s custodian; as of the Effective Date, the custodian of the Fund is _______________. 1.18 “Deposit Securities” means an in-kind deposit of a designated portfolio of equity securities selected by or on behalf of the Fund. 1.19 “DTC” means The Depository Trust Company. 1.20 “DTC Participant” shall have the meaning set forth in Section 3.01. 1.21 “DTC Process” means the process for effecting purchases orders or redemption requests of Creation Units through DTC other than through the use of the CNS System. 1.22 “FINRA” means the Financial Industry Regulatory Authority. 1.23 “FinCEN” shall have the meaning set forth in Section 3.01. 1.24 “Fund Deposit” means the Deposit Securities plus or minus the “Balancing Amount”. 1.25 “Fund Securities” means in-kind redemption proceeds of a designated portfolio of equity and/or fixed income securities selected by the Adviser. 1.26 “Indemnified Party” shall have the meaning set forth in Section 6.01. 1.27 “Intraday Indicative Value” means the value of the Fund, as calculated and published by the New York Stock Exchange or any similar exchange or widely recognized industry organization, throughout the trading day based on the last sale prices of the securities specified for creation and redemption plus any estimated cash amounts associated with the creation unit, on a per share basis. 1.28 “Listing Exchange” shall have the meaning set forth in Section 8.01. 1.29 “NAV” shall have the meaning set forth in Section 6.03. 1.30 “OFAC” shall have the meaning set forth in Section 3.01. 1.31 “Orders” shall have the meaning set forth in Section 2.02.