Common use of Action Without a Meeting Clause in Contracts

Action Without a Meeting. Any action required or permitted to be taken by Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder to any action of the Trust or any Shareholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder given in the manner provided in Section 13.5. The vote or consent of each Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Shareholder, unless the Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 and actually received by the Trust within twenty (20) days after the notice of solicitation is sent. The Covered Persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders shall not be void or voidable by reason of any communication made by or on behalf of all or any of such Shareholders in any manner other than as expressly provided in Section 13.5.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Unitholder to any action of the Trust Trust, any Fund or any ShareholderUnitholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder Unitholder given in the manner provided in Section 13.516.4. The Any vote or consent of each Shareholder that has been cast by a Unitholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderUnitholder, unless the Shareholder Unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 16.4 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 12.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders in any manner other than as expressly provided in Section 13.516.4.

Action Without a Meeting. Any action required or permitted to be taken by Limited Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Limited Shareholder to any action of the Trust Trust, any Fund or any Shareholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Limited Shareholder given in the manner provided in Section 13.516.4. The Any vote or consent of each that has been cast by a Limited Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Limited Shareholder, unless the Limited Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 16.4 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Limited Shareholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Limited Shareholders in any manner other than as expressly provided in Section 13.516.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Interestholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Interestholder to any action of the Trust or any ShareholderInterestholder, as contemplated by this Trust Agreement, is solicited by the SponsorManaging Owner, the solicitation shall be effected by notice to each Shareholder Interestholder given in the manner provided in Section 13.515.4. The vote or consent of each Shareholder Interestholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderInterestholder, unless the Shareholder Interestholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 15.4 below and actually received by the Trust within twenty (20) 20 days after the notice of solicitation is senteffected. The Covered Persons Managing Owner and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Interestholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Interestholders in any manner other than as expressly provided in Section 13.515.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders of a series by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Unitholder of a series to any action of the Trust or any ShareholderUnitholder of such series, as contemplated by this Trust Agreement, is solicited by the SponsorManaging Owner, the solicitation shall be effected by notice to each Shareholder Unitholder of the applicable series given in the manner provided in Section 13.514.5. The vote or consent of each Shareholder Unitholder of a series so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderUnitholder, unless the Shareholder Unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 14.5 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Managing Owner and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders of a series shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders of a series in any manner other than as expressly provided in Section 13.514.5.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder unitholder to any action of the Trust Trust, any Fund or any Shareholderunitholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder unitholder given in the manner provided in Section 13.516.4. The Any vote or consent of each Shareholder that has been cast by a unitholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Shareholderunitholder, unless the Shareholder unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 16.4 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 12.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders in any manner other than as expressly provided in Section 13.516.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Beneficial Owners by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Beneficial Owner to any action of the Trust or any ShareholderBeneficial Owner, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder Beneficial Owner given in the manner provided in Section 13.510.06. The vote or consent of each Shareholder Beneficial Owner so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderBeneficial Owner, unless the Shareholder Beneficial Owner expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 10.06 and actually received by the Trust within twenty (20) days after the notice of solicitation is sent. The Covered Persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that is deemed cast or granted pursuant to this Section 10.3 6.03 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Beneficial Owners shall not be void or voidable by reason of any communication made by or on behalf of all or any of such Shareholders Beneficial Owners in any manner other than as expressly provided in Section 13.510.06.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder to any action of the Trust or any Shareholder, as contemplated by this Trust AgreementAmended and Restated Declaration of Trust, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder given in the manner provided in Section 13.510.6. The vote or consent of each Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Shareholder, unless the Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 10.6 above and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders in any manner other than as expressly provided in Section 13.510.6.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Owners by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Interest Holder to any action of the Trust or any ShareholderInterest Holder, as contemplated by this Trust Agreement, is solicited by the SponsorManaging Owner, the solicitation shall be effected by notice to each Shareholder Interest Holder given in the manner provided in Section 13.515.4. The vote or consent of each Shareholder Interest Holder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderInterest Holder, unless the Shareholder Interest Holder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 15.4 below and actually received by the Trust within twenty (20) 20 days after the notice of solicitation is senteffected. The Covered Persons Managing Owner and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Owners shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Owners in any manner other than as expressly provided in Section 13.515.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Unitholder to any action of the Trust Trust, any Fund or any ShareholderUnitholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder Unitholder given in the manner provided in Section 13.516.4. The Any vote or consent of each Shareholder that has been cast by a Unitholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderUnitholder, unless the Shareholder Unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 16.4 below and actually received by the Trust within twenty (20) days after the notice of solicitation is sentmade. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 12.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders in any manner other than as expressly provided in Section 13.516.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Unitholder to any action of the Trust or any ShareholderUnitholder, as contemplated by this Trust Agreement, is solicited by the SponsorManaging Owner, then the solicitation shall be effected by notice to each Shareholder Unitholder given in the manner provided in Section 13.515.4. The vote or consent of each Shareholder Unitholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderUnitholder, unless the Shareholder Unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 15.4 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Managing Owner and all persons dealing with the Trust shall be entitled to act in reliance on upon any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders in any manner other than as expressly provided in Section 13.515.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder to any action of the Trust or any Shareholder, as contemplated by this Declaration of Trust and Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder given in the manner provided in Section 13.510.6. The vote or consent of each Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Shareholder, unless the Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 10.6 above and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders in any manner other than as expressly provided in Section 13.510.6.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Unitholder to any action of the Trust Trust, any Fund or any ShareholderUnitholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder Unitholder given in the manner provided in Section 13.516.4. The Any vote or consent of each Shareholder that has been cast by a Unitholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderUnitholder, unless the Shareholder Unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 16.4 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 12.3 and shall be fully Table of Contents indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders in any manner other than as expressly provided in Section 13.516.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder to any action of the Trust or any Shareholder, as contemplated by this Trust AgreementSecond Amended and Restated Declaration of Trust, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder given in the manner provided in Section 13.510.6. The vote or consent of each Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Shareholder, unless the Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 10.6 above and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders in any manner other than as expressly provided in Section 13.510.6.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders of any Fund by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Unitholder of a Fund to any action of the Trust Trust, any Fund or any ShareholderUnitholder of such Fund, as contemplated by this Trust Agreement, is solicited by the SponsorManaging Owner, the solicitation shall be effected by notice to each Shareholder Unitholder of the applicable Fund given in the manner provided in Section 13.514.5. The vote or consent of each Shareholder Unitholder of a Fund so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderUnitholder, unless the Shareholder Unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 14.5 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons dealing with the Trust and the Funds shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust and the applicable Fund(s) in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders of a Fund shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders of a Fund in any manner other than as expressly provided in Section 13.514.5.

Action Without a Meeting. Any action required or permitted to be taken by Limited Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Limited Shareholder to any action of the Trust Trust, any Fund or any Shareholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Limited Shareholder given in the manner provided in Section 13.516.4. The Any vote or consent of each that has been cast by a Limited Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Limited Shareholder, unless the Limited Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 16.4 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Limited Shareholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Limited Shareholders in any manner other than as expressly provided in Section 13.5.16.4. 42

Action Without a Meeting. Any action required or permitted to be taken by Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder to any action of the Trust Fund or any Shareholder, as contemplated by this Trust Agreement, is solicited by the SponsorManager, the solicitation shall be effected by notice to each Shareholder given in the manner provided in Section 13.5SECTION 11.6. The vote or consent of each Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Shareholder, unless the Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 SECTION 11.6 and actually received by the Trust Fund within twenty (20) days after the notice of solicitation is sent. The Covered Persons dealing with the Trust Fund shall be entitled to act in reliance on any vote or consent that is deemed cast or granted pursuant to this Section 10.3 SECTION 9.3 and shall be fully indemnified by the Trust Fund in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders shall not be void or voidable by reason of any communication made by or on behalf of all or any of such Shareholders in any manner other than as expressly provided in Section 13.5SECTION 11.6.

Action Without a Meeting. Any action required or permitted to be taken by Limited Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Limited Shareholder to any action of the Trust Trust, any Fund or any Shareholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Limited Shareholder given in the manner provided in Section 13.515.4. The Any vote or consent of each that has been cast by a Limited Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Limited Shareholder, unless the Limited Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 15.4 below and actually received by the Trust within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Sponsor and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Limited Shareholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Limited Shareholders in any manner other than as expressly provided in Section 13.515.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Unitholder to any action of the Trust or any ShareholderUnitholder, as contemplated by this Trust Agreement, is solicited by the SponsorManaging Owner, the solicitation shall be effected by notice to each Shareholder Unitholder given in the manner provided in Section 13.515.4. The vote or consent of each Shareholder Unitholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderUnitholder, unless the Shareholder Unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 15.4 below and actually received by the Trust within twenty (20) 20 days after the notice of solicitation is senteffected. The Covered Persons Managing Owner and all persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders in any manner other than as expressly provided in Section 13.515.4.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder to any action of the Trust or any Shareholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder given in the manner provided in Section 13.5‎Section 13.6. The vote or consent of each Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Shareholder, unless the Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 ‎Section 13.6 and actually received by the Trust within twenty (20) days after the notice of solicitation is sent. The Covered Persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that is deemed cast or granted pursuant to this Section ‎Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders shall not be void or voidable by reason of any communication made by or on behalf of all or any of such Shareholders in any manner other than as expressly provided in Section 13.5‎Section 13.6.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders Unitholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder Unitholder to any action of the Trust or any ShareholderUnitholder, as contemplated by this Trust Agreement, is solicited by the Sponsor, the solicitation shall be effected by notice to each Shareholder Unitholder given in the manner provided in Section 13.5. The vote or consent of each Shareholder Unitholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that ShareholderUnitholder, unless the Shareholder Unitholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 below and actually received by the Trust within twenty (20) 20 days after the notice of solicitation is sentaffected. The Covered Persons dealing with the Trust shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders Unitholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders Unitholders in any manner other than as expressly provided in Section 13.5.

Action Without a Meeting. Any action required or permitted to be taken by Shareholders by vote may be taken without a meeting by written consent setting forth the actions so taken. Such written consents shall be treated for all purposes as votes at a meeting. If the vote or consent of any Shareholder to any action of the Trust Master Fund or any Shareholder, as contemplated by this Trust Agreement, is solicited by the SponsorManaging Owner, then the solicitation shall be effected by notice to each Shareholder given in the manner provided in Section 13.515.4. The vote or consent of each Shareholder so solicited shall be deemed conclusively to have been cast or granted as requested in the notice of solicitation, whether or not the notice of solicitation is actually received by that Shareholder, unless the Shareholder expresses written objection to the vote or consent by notice given in the manner provided in Section 13.5 15.4 below and actually received by the Trust Master Fund within twenty (20) days after the notice of solicitation is senteffected. The Covered Persons Managing Owner and all persons dealing with the Trust Master Fund shall be entitled to act in reliance on any vote or consent that which is deemed cast or granted pursuant to this Section 10.3 and shall be fully indemnified by the Trust Master Fund in so doing. Any action taken or omitted in reliance on any such deemed vote or consent of one or more Shareholders shall not be void or voidable by reason of any timely communication made by or on behalf of all or any of such Shareholders in any manner other than as expressly provided in Section 13.515.4.