Purchase Order definition
Examples of Purchase Order in a sentence
The Trust or the Distributor may reject any Purchase Order for any reason, and the Transfer Agent may reject an order not received in proper form.
The Participant understands and agrees that, in the event that either the above-described cash collateral or the Portfolio Deposit are not fully transferred to the Trust by the time specified, a Purchase Order may be cancelled and the Participant will be solely responsible for any and all expenses and costs incurred by the Trust, on behalf of the applicable Fund, in connection with the cancelled Purchase Order.
Upon rejection of an Order, the Distributor or the Transfer Agent, as applicable, will promptly return to the Participant all consideration, including Shares and any Cash Balancing Amount (in the case of a Redemption Order), and Deposit Instruments and any Cash Balancing Amount (in the case of a Purchase Order), tendered by the Participant in connection with such Order.
Likewise, the Participant acknowledges and agrees to return to the Trust any dividend, distribution, interest or other corporate action paid to the Participant or any Participant Client in respect of any Deposit Instrument that is transferred to the Trust that, based on the valuation of such Deposit Instrument on the Business Day on which the Trust receives and accepts the Purchase Order in proper form, should have been paid to the Trust.
The Distributor will provide notice to the Participant, as soon as reasonably practicable, of any such cancellation of a Purchase Order.