Apportionment of Trustee expenses between Series of ETP Securities. If at any time the Trustee is trustee in respect of more than one Series of ETP Securities, the Trustee shall be entitled in its absolute discretion to determine in respect of which Series of ETP Securities any liabilities and expenses have been incurred by the Trustee and to allocate any such liabilities and expenses between such Series of ETP Securities. For the avoidance of doubt any duties in connection with investments, the granting of consents or waivers, concurring in modifications, substitution of the Issuer or enforcement, or during the period post enforcement or duties (including any reporting requirements) undertaken to ensure regulatory compliance, shall be deemed to be of an exceptional nature.
