Common use of Charges of Trustee Clause in Contracts

Charges of Trustee. (a) Each Depositor, and each person surrendering Shares for the purpose of withdrawing Trust Property, shall pay to the Trustee a fee of $500 per transaction for the Delivery of Shares pursuant to Section 2.4 and the Surrender of Baskets of Shares pursuant to Section 2.6 or 6.2 (or such other fee as the Trustee, with the prior written consent of the Sponsor, may from time to time announce). (b) The Trustee is entitled to receive from the Sponsor fees for its ordinary services and reimbursement for its out-of-pocket expenses in accordance with written agreements between the Sponsor and the Trustee. Should the Sponsor fail to pay the same, the Trustee shall be authorized to charge the same to the Trust to the extent of amounts which could be charged to the Trust under Section 5.8(a) hereof in respect of the Sponsor’s fee (and the Trustee may charge the same to the Trust to such extent without regard to whether, because of the Sponsor’s default, fee waiver or other reason, the Sponsor may not then be entitled to payment pursuant to Section 5.8(a)), and any amount paid to the Sponsor pursuant to Section 5.8(a) shall be net of amounts so withheld. The Trustee’s right of reimbursement shall be secured by a lien on amounts chargeable to the Trust under Section 5.8(a), without giving effect to any fee waiver then in effect, prior to the interest of the Sponsor, the Beneficial Owners and any other Person. (c) The Trustee is entitled to charge the Trust for all expenses and disbursements incurred by it hereunder exclusive of amounts specified in the preceding Section 5.7(b), including the fees and disbursements of its legal counsel and those expenses identified in any Custody Agreement as payable by the Trustee, except that the Trustee is not entitled to charge the Trust for (i) expenses and disbursements incurred by it prior to the commencement of trading of Shares on the Exchange and (ii) fees of agents for performing services the Trustee is required to perform under this Agreement. The Trustee’s right of reimbursement for expenses and disbursements under this paragraph shall be deductible from, and constitute a lien against, the assets of the Trust. (d) Any pecuniary cost of the Trustee resulting from actions taken to protect the Trust and the rights and interest of the Registered Owners pursuant to the terms of this Agreement, including, without limitation, the Trustee’s appearance in, prosecution of or defense of any action that it considers necessary or desirable to protect the Trust or the interests of the Beneficial Owners, shall be deductible from, and constitute a lien against, the assets of the Trust.

Charges of Trustee. (a) Each Depositor, and each person surrendering Shares for the purpose of withdrawing Trust Property, shall pay to the Trustee a fee of $500 per transaction for the Delivery of Shares pursuant to Section 2.4 and the Surrender of Baskets of Shares pursuant to Section 2.6 or 6.2 (or such other fee as the Trustee, with the prior written consent of the Sponsor, may from time to time announce). (b) The Trustee is entitled to receive from the Sponsor fees for its ordinary services and reimbursement for its out-of-pocket expenses in accordance with written agreements between the Sponsor and the Trustee. Should the Sponsor fail to pay the same, the Trustee shall be authorized to charge the same to the Trust to the extent of amounts which could be charged to the Trust under Section 5.8(a) hereof in respect of the Sponsor’s fee (and the Trustee may charge the same to the Trust to such extent without regard to whether, because of the Sponsor’s default, fee waiver or other reason, the Sponsor may not then be entitled to payment pursuant to Section 5.8(a)), and any amount paid to the Sponsor pursuant to Section 5.8(a) shall be net of amounts so withheld. The Trustee’s right of reimbursement shall be secured by a lien on amounts chargeable to the Trust under Section 5.8(a), without giving effect to any fee waiver then in effect, prior to the interest of the Sponsor, the Beneficial Owners and any other Person. (c) The Trustee is entitled to charge the Trust for all expenses and disbursements incurred by it hereunder exclusive of amounts specified in the preceding Section 5.7(b), including the fees and disbursements of its legal counsel and those expenses identified in any Custody Agreement as payable by the Trusteecounsel, except that the Trustee is not entitled to charge the Trust for (i) expenses and disbursements incurred by it prior to the commencement of trading of Shares on the Exchange and (ii) fees of agents for performing services the Trustee is required to perform under this Agreement. The Trustee’s right of reimbursement for expenses and disbursements under this paragraph shall be deductible from, and constitute a lien against, the assets of the Trust. (d) Any pecuniary cost of the Trustee resulting from actions taken to protect the Trust and the rights and interest of the Registered Owners pursuant to the terms of this Agreement, including, without limitation, the Trustee’s appearance in, prosecution of or defense of any action that it considers necessary or desirable to protect the Trust or the interests of the Beneficial Owners, shall be deductible from, and constitute a lien against, the assets of the Trust.

Charges of Trustee. (a) Each DepositorThe following charges shall be incurred by any party depositing or withdrawing Securities or by any party Surrendering Receipts or to whom Receipts are Delivered or any Owner, as applicable: (1) taxes and each person surrendering Shares for charges and other fees payable in respect of the purpose Underlying Securities assessed by third-party custodians, depositories, depositary banks or transfer agents in the ordinary course of withdrawing Trust Propertytheir respective businesses, shall pay to the Trustee (2) a fee of $500 5 or less (as determined in the sole discretion of the Trustee) per transaction 100 Receipts for the execution and Delivery of Shares Receipts pursuant to Section 2.4 and 2.5, and, in addition, for the Surrender of Baskets of Shares Receipts pursuant to Section 2.6 2.7, (3) a custodial fee which shall accrue on the first day of each calendar quarter at a rate of $.01 or 6.2 less (or such other fee as determined in the sole discretion of the Trustee, with ) per Receipt per quarter for the prior written consent custodial services under the Depositary Trust Agreement (which fee shall be assessed against Owners of record as of the Sponsordate or dates set by the Trustee in accordance with Section 4.5 and shall be collected at the Trustee's discretion by deducting such fee from one or more cash dividends or other cash distributions), may and (4) a $.25 per 100 Receipts handling fee which shall be incurred for each cash dividend or other cash distribution in respect of the Underlying Securities at such time that such distributions are made (which fee shall be assessed against Owners of record as of the date or dates set the Trustee in accordance with Section 4.5 and shall be collected by deducting such fee from time the related cash dividends or other cash distributions when made) ; provided, however, that with respect to time announce)the aggregate fee accrued in any calendar year under clause (3) and clause (4) with respect to each Receipt, no such fee will accrue which exceeds the total cash dividends and other cash distributions the record date for which falls in such calendar year and payable with respect to such Receipt. The fees payable pursuant to this Section 5.6(a) shall be deemed to be full reimbursement to the Trustee for all Trust Expenses. (b) The Trustee is entitled to receive Extraordinary Trust Expenses shall be payable by the Initial Depositor upon receipt of a detailed written invoice therefor from the Sponsor fees for its ordinary services and reimbursement for its out-of-pocket expenses in accordance with written agreements between the Sponsor and the Trustee. Should the Sponsor fail to pay the same, Trustee provided that the Trustee shall use its best efforts to provide the Initial Depositor with written notice prior to any Extraordinary Trust Expense to be authorized to charge incurred in excess of $1,000 and, provided further, that in no event shall Extraordinary Trust Expenses be incurred in an amount in excess of $50,000 in the same to aggregate without the Trust to the extent of amounts which could be charged to the Trust under Section 5.8(a) hereof in respect express written consent of the Sponsor’s fee (and the Trustee may charge the same to the Trust to such extent without regard to whether, because of the Sponsor’s default, fee waiver or other reason, the Sponsor may not then be entitled to payment pursuant to Section 5.8(a)), and any amount paid to the Sponsor pursuant to Section 5.8(a) shall be net of amounts so withheld. The Trustee’s right of reimbursement shall be secured by a lien on amounts chargeable to the Trust under Section 5.8(a), without giving effect to any fee waiver then in effect, prior to the interest of the Sponsor, the Beneficial Owners and any other PersonInitial Depositor. (c) The Trustee is entitled to charge the Trust for all expenses and disbursements incurred by it hereunder exclusive of amounts specified in the preceding Section 5.7(b), including the fees and disbursements of its legal counsel and those expenses identified in any Custody Agreement as payable by the Trustee, except that the Trustee is not entitled to charge the Trust for (i) expenses and disbursements incurred by it prior to the commencement of trading of Shares on the Exchange and (ii) fees of agents for performing services the Trustee is required to perform under this Agreement. The Trustee’s right of reimbursement for expenses and disbursements under this paragraph shall be deductible from, and constitute a lien against, the assets of the Trust. (d) Any pecuniary cost of the Trustee resulting from actions taken to protect the Trust and the rights and interest of the Registered Owners pursuant to the terms of this Agreement, including, without limitation, the Trustee’s appearance in, prosecution of or defense of any action that it considers necessary or desirable to protect the Trust or the interests of the Beneficial Owners, shall be deductible from, and constitute a lien against, the assets of the Trust.

Charges of Trustee. (a) Each DepositorThe following charges shall be incurred by any party depositing or withdrawing Securities or by any party Surrendering Receipts or to whom Receipts are Delivered or any Owner, as applicable: (1) taxes and each person surrendering Shares for charges and other fees payable in respect of the purpose Underlying Securities assessed by third-party custodians, depositories, depositary banks or transfer agents in the ordinary course of withdrawing Trust Propertytheir respective businesses, shall pay to the Trustee (2) a fee of $500 5 or less (as determined in the sole discretion of the Trustee) per transaction 100 Receipts for the execution and Delivery of Shares Receipts pursuant to Section 2.4 and 2.5, and, in addition, for the Surrender of Baskets of Shares Receipts pursuant to Section 2.6 2.7, (3) a custodial fee which shall accrue on the first day of each calendar quarter at a rate of $.01 or 6.2 less (or such other fee as determined in the sole discretion of the Trustee, with ) per Receipt per quarter for the prior written consent custodial services under the Depositary Trust Agreement (which fee shall be assessed against Owners of record as of the Sponsordate or dates set by the Trustee in accordance with Section 4.5 and shall be collected at the Trustee's discretion by deducting such fee from one or more cash dividends or other cash distributions), may and (4) a $.25 per 100 Receipts handling fee which shall be incurred for each cash dividend or other cash distribution in respect of the Underlying Securities at such time that such distributions are made (which fee shall be assessed against Owners of record as of the date or dates set by the Trustee in accordance with Section 4.5 and shall be collected by deducting such fee from time the related cash dividends or other cash distributions when made); provided, however, that with respect to time announce)the aggregate fee accrued in any calendar year under clause (3) and clause (4) with respect to each Receipt, no such fee shall accrue which exceeds the total cash dividends and other cash distributions the record date for which falls in such calendar year and payable with respect to such Receipt. The fees payable pursuant to this Section 5.6(a) shall be deemed to be full reimbursement to the Trustee for all Trust Expenses. (b) The Trustee is entitled to receive Extraordinary Trust Expenses shall be payable by the Initial Depositor upon receipt of a detailed written invoice therefor from the Sponsor fees for its ordinary services and reimbursement for its out-of-pocket expenses in accordance with written agreements between the Sponsor and the Trustee. Should the Sponsor fail to pay the same, Trustee provided that the Trustee shall use its best efforts to provide the Initial Depositor with written notice prior to any Extraordinary Trust Expense to be authorized to charge incurred in excess of $1,000 and, provided further, that in no event shall Extraordinary Trust Expenses be incurred in an amount in excess of $50,000 in the same to aggregate without the Trust to the extent of amounts which could be charged to the Trust under Section 5.8(a) hereof in respect express written consent of the Sponsor’s fee (and the Trustee may charge the same to the Trust to such extent without regard to whether, because of the Sponsor’s default, fee waiver or other reason, the Sponsor may not then be entitled to payment pursuant to Section 5.8(a)), and any amount paid to the Sponsor pursuant to Section 5.8(a) shall be net of amounts so withheld. The Trustee’s right of reimbursement shall be secured by a lien on amounts chargeable to the Trust under Section 5.8(a), without giving effect to any fee waiver then in effect, prior to the interest of the Sponsor, the Beneficial Owners and any other PersonInitial Depositor. (c) The Trustee is entitled to charge the Trust for all expenses and disbursements incurred by it hereunder exclusive of amounts specified in the preceding Section 5.7(b), including the fees and disbursements of its legal counsel and those expenses identified in any Custody Agreement as payable by the Trustee, except that the Trustee is not entitled to charge the Trust for (i) expenses and disbursements incurred by it prior to the commencement of trading of Shares on the Exchange and (ii) fees of agents for performing services the Trustee is required to perform under this Agreement. The Trustee’s right of reimbursement for expenses and disbursements under this paragraph shall be deductible from, and constitute a lien against, the assets of the Trust. (d) Any pecuniary cost of the Trustee resulting from actions taken to protect the Trust and the rights and interest of the Registered Owners pursuant to the terms of this Agreement, including, without limitation, the Trustee’s appearance in, prosecution of or defense of any action that it considers necessary or desirable to protect the Trust or the interests of the Beneficial Owners, shall be deductible from, and constitute a lien against, the assets of the Trust.

Charges of Trustee. (a) Each Depositor, and each person surrendering Shares for the purpose of withdrawing Trust Property, shall pay to the Trustee a fee of $500 per transaction for the Delivery of Shares pursuant to Section 2.4 and the Surrender of Baskets of Shares pursuant to Section 2.6 or 6.2 (or such other fee as the Trustee, with the prior written consent of the Sponsor, may from time to time announce). (b) The Trustee is entitled to receive from the Sponsor fees for its ordinary services and reimbursement for its out-of-pocket expenses in accordance with written agreements between the Sponsor and the Trustee. Should the Sponsor fail to pay the same, the Trustee shall be authorized to charge the same to the Trust to the extent of amounts which could be charged to the Trust under Section 5.8(a) hereof in respect of the Sponsor’s fee (and the Trustee may charge the same to the Trust to such extent without regard to whether, because of the Sponsor’s default, fee waiver or other reason, the Sponsor may not then be entitled to payment pursuant to Section 5.8(a)), and any amount paid to the Sponsor pursuant to Section 5.8(a) shall be net of amounts so withheld. The Trustee’s right of reimbursement shall be secured by a lien on amounts chargeable to the Trust under Section 5.8(a), without giving effect to any fee waiver then in effect, prior to the interest of the Sponsor, the Beneficial Owners and any other Person. (c) The Trustee is entitled to charge the Trust for all expenses and disbursements incurred by it hereunder exclusive of amounts specified in the preceding Section 5.7(b), including the fees and disbursements of its legal counsel and those expenses identified in any Custody Agreement as payable by the Trustee, except that the Trustee is not entitled to charge the Trust for (i) expenses and disbursements incurred by it prior to the commencement of trading of Shares on the Exchange and (ii) fees of agents for performing services the Trustee is required to perform under this Agreement. The Trustee’s right of reimbursement for expenses and disbursements under this paragraph shall be deductible from, and constitute a lien against, the assets of the Trust. (d) Any pecuniary cost of the Trustee resulting from actions taken to protect the Trust and the rights and interest of the Registered Owners pursuant to the terms of this Agreement, including, without limitation, the Trustee’s appearance in, prosecution of or defense of any action that it considers necessary or desirable to protect the Trust or the interests of the Beneficial Owners, shall be deductible from, and constitute a lien against, the assets of the Trust.

Charges of Trustee. (a) Each DepositorThe following charges shall be incurred by any party depositing or withdrawing Securities or by any party Surrendering Receipts or to whom Receipts are Delivered or any Owner, as applicable: (1) taxes and each person surrendering Shares for charges and other fees payable in respect of the purpose Underlying Securities assessed by third-party custodians, depositories, depositary banks or transfer agents in the ordinary course of withdrawing Trust Propertytheir respective businesses, shall pay to the Trustee (2) a fee of $500 5 or less (as determined in the sole discretion of the Trustee) per transaction 100 Receipts for the execution and Delivery of Shares Receipts pursuant to Section 2.4 and 2.5, and, in addition, for the Surrender of Baskets of Shares Receipts pursuant to Section 2.6 2.7, (3) a custodial fee which shall accrue on the first day of each calendar quarter at a rate of $.01 or 6.2 less (or such other fee as determined in the sole discretion of the Trustee, with ) per Receipt per quarter for the prior written consent custodial services under the Depositary Trust Agreement (which fee shall be assessed against Owners of record as of the Sponsordate or dates set by the Trustee in accordance with Section 4.5 and shall be collected at the Trustee's discretion by deducting such fee from one or more cash dividends or other cash distributions); provided, may however, that with respect to the aggregate fee accrued in any calendar year under this clause (3) with respect to each Receipt, no such fee shall accrue which exceeds the total cash dividends and other cash distributions the record date for which falls in such calendar year and payable with respect to such Receipt, and (4) to the extent that there are funds available for distribution after the quarterly custodial fee is deducted pursuant to clause (3), a $.25 per 100 Receipts handling fee shall be incurred for each cash dividend or other cash distribution in respect of the Underlying Securities at such time that such distributions are made (which fee shall be assessed against Owners of record as of the date or dates set by the Trustee in accordance with Section 4.5 and shall be collected by deducting such fee from time the related cash dividends or other cash distributions when made after the quarterly custodial fee is deducted); provided, however, that if the related distribution does not fully pay the related handling fee, the handling fee shall expire. The fees payable pursuant to time announce)Section 5.6(a) shall be deemed to be full reimbursement to the Trustee for all Trust Expenses. (b) The Trustee is entitled to receive Extraordinary Trust Expenses shall be payable by the Initial Depositor upon receipt of a detailed written invoice therefor from the Sponsor fees for its ordinary services and reimbursement for its out-of-pocket expenses in accordance with written agreements between the Sponsor and the Trustee. Should the Sponsor fail to pay the same, Trustee provided that the Trustee shall use its best efforts to provide the Initial Depositor with written notice prior to any Extraordinary Trust Expense to be authorized to charge incurred in excess of $1,000 and, provided further, that in no event shall Extraordinary Trust Expenses be incurred in an amount in excess of $50,000 in the same to aggregate without the Trust to the extent of amounts which could be charged to the Trust under Section 5.8(a) hereof in respect express written consent of the Sponsor’s fee (and the Trustee may charge the same to the Trust to such extent without regard to whether, because of the Sponsor’s default, fee waiver or other reason, the Sponsor may not then be entitled to payment pursuant to Section 5.8(a)), and any amount paid to the Sponsor pursuant to Section 5.8(a) shall be net of amounts so withheld. The Trustee’s right of reimbursement shall be secured by a lien on amounts chargeable to the Trust under Section 5.8(a), without giving effect to any fee waiver then in effect, prior to the interest of the Sponsor, the Beneficial Owners and any other PersonInitial Depositor. (c) The Trustee is entitled to charge the Trust for all expenses and disbursements incurred by it hereunder exclusive of amounts specified in the preceding Section 5.7(b), including the fees and disbursements of its legal counsel and those expenses identified in any Custody Agreement as payable by the Trustee, except that the Trustee is not entitled to charge the Trust for (i) expenses and disbursements incurred by it prior to the commencement of trading of Shares on the Exchange and (ii) fees of agents for performing services the Trustee is required to perform under this Agreement. The Trustee’s right of reimbursement for expenses and disbursements under this paragraph shall be deductible from, and constitute a lien against, the assets of the Trust. (d) Any pecuniary cost of the Trustee resulting from actions taken to protect the Trust and the rights and interest of the Registered Owners pursuant to the terms of this Agreement, including, without limitation, the Trustee’s appearance in, prosecution of or defense of any action that it considers necessary or desirable to protect the Trust or the interests of the Beneficial Owners, shall be deductible from, and constitute a lien against, the assets of the Trust.

Charges of Trustee. (a) Each DepositorThe following charges shall be incurred by any party depositing or withdrawing Securities or by any party Surrendering Receipts or to whom Receipts are Delivered or any Owner, as applicable: (1) taxes and each person surrendering Shares for charges and other fees payable in respect of the purpose Underlying Securities assessed by third-party custodians, depositories, depositary banks or transfer agents in the ordinary course of withdrawing Trust Propertytheir respective businesses, shall pay to the Trustee (2) a fee of $500 5 or less (as determined in the sole discretion of the Trustee) per transaction 100 Receipts for the execution and Delivery of Shares Receipts pursuant to Section 2.4 and 2.5, and, in addition, for the Surrender of Baskets of Shares Receipts pursuant to Section 2.6 2.7, (3) a custodial fee which shall accrue on the first day of each calendar quarter at a rate of $.01 or 6.2 less (or such other fee as determined in the sole discretion of the Trustee, with ) per Receipt per quarter for the prior written consent custodial services under the Depositary Trust Agreement (which fee shall be assessed against Owners of record as of the Sponsordate or dates set by the Trustee in accordance with Section 4.5 and shall be collected at the Trustee's discretion by deducting such fee from one or more cash dividends or other cash distributions); provided, may however, that with respect to the aggregate fee accrued in any calendar year under this clause (3) with respect to each Receipt, no such fee shall accrue which exceeds the total cash dividends and other cash distributions the record date for which falls in such calendar year and payable with respect to such Receipt and the Trustee will waive any portion of the custodial fee that exceeds the total cash dividends and other cash distributions made during the current quarter, and (4) to the extent that there are funds available for distribution after the quarterly custodial fee is deducted pursuant to clause (3), a $.25 per 100 Receipts handling fee shall be incurred for each cash dividend or other cash distribution in respect of the Underlying Securities at such time that such distributions are made (which fee shall be assessed against Owners of record as of the date or dates set by the Trustee in accordance with Section 4.5 and shall be collected by deducting such fee from time the related cash dividends or other cash distributions when made after the quarterly custodial fee is deducted); provided, however, that if the related cash dividend or cash distribution does not fully pay the related handling fee, the Trustee will waive any remaining portion of the handling fee. The fees payable pursuant to time announce)this Section 5.6(a) shall be deemed to be full reimbursement to the Trustee for all Trust Expenses. (b) The Trustee is entitled to receive Extraordinary Trust Expenses shall be payable by the Initial Depositor upon receipt of a detailed written invoice therefor from the Sponsor fees for its ordinary services and reimbursement for its out-of-pocket expenses in accordance with written agreements between the Sponsor and the Trustee. Should the Sponsor fail to pay the same, Trustee provided that the Trustee shall be authorized use its best efforts to charge provide the same to the Trust to the extent of amounts which could be charged to the Trust under Section 5.8(a) hereof in respect of the Sponsor’s fee (and the Trustee may charge the same to the Trust to such extent without regard to whether, because of the Sponsor’s default, fee waiver or other reason, the Sponsor may not then be entitled to payment pursuant to Section 5.8(a)), and any amount paid to the Sponsor pursuant to Section 5.8(a) shall be net of amounts so withheld. The Trustee’s right of reimbursement shall be secured by a lien on amounts chargeable to the Trust under Section 5.8(a), without giving effect Initial Depositor with written notice prior to any fee waiver then in effect, prior to the interest of the Sponsor, the Beneficial Owners and any other Person. (c) The Trustee is entitled to charge the Trust for all expenses and disbursements incurred by it hereunder exclusive of amounts specified in the preceding Section 5.7(b), including the fees and disbursements of its legal counsel and those expenses identified in any Custody Agreement as payable by the Trustee, except that the Trustee is not entitled to charge the Trust for (i) expenses and disbursements incurred by it prior to the commencement of trading of Shares on the Exchange and (ii) fees of agents for performing services the Trustee is required to perform under this Agreement. The Trustee’s right of reimbursement for expenses and disbursements under this paragraph shall be deductible from, and constitute a lien against, the assets of the Trust. (d) Any pecuniary cost of the Trustee resulting from actions taken to protect the Trust and the rights and interest of the Registered Owners pursuant to the terms of this Agreement, including, without limitation, the Trustee’s appearance in, prosecution of or defense of any action that it considers necessary or desirable to protect the Trust or the interests of the Beneficial Owners, shall be deductible from, and constitute a lien against, the assets of the Trust.Extraordinary

Charges of Trustee. (a) Each Depositor, and each person surrendering Shares for the purpose of withdrawing Trust Property, shall pay to the Trustee a fee of $500 per transaction for the Delivery of Shares pursuant to Section 2.4 and the Surrender of Baskets Creation Units of Shares pursuant to Section 2.6 or 6.2 (or such other fee as the Trustee, with the prior written consent of the Sponsor, may from time to time announce). (b) The Trustee is entitled to receive from the Sponsor fees for its ordinary services and reimbursement for its out-of-pocket expenses in accordance with written agreements between the Sponsor and the Trustee. Should the Sponsor fail to pay the same, the Trustee shall be authorized to charge the same to the Trust to the extent of amounts which could be charged to the Trust under Section 5.8(a) hereof in respect of the Sponsor’s fee (and the Trustee may charge the same to the Trust to such extent without regard to whether, because of the Sponsor’s default, fee waiver or other reason, the Sponsor may not then be entitled to payment pursuant to Section 5.8(a)), and any amount paid to the Sponsor pursuant to Section 5.8(a) shall be net of amounts so withheld. The Trustee’s right of reimbursement shall be secured by a lien on amounts chargeable to the Trust under Section 5.8(a), without giving effect to any fee waiver then in effect, prior to the interest of the Sponsor, the Beneficial Owners and any other Person. (c) The Trustee is entitled to charge the Trust for all expenses and disbursements incurred by it hereunder exclusive of amounts specified in the preceding Section 5.7(b), including the fees and disbursements of its legal counsel and those expenses identified in any Custody Agreement as payable by the Trustee, except that the Trustee is not entitled to charge the Trust for (i) expenses and disbursements incurred by it prior to the commencement of trading of Shares on the Exchange and (ii) fees of agents for performing services the Trustee is required to perform under this Agreement. The Trustee’s right of reimbursement for expenses and disbursements under this paragraph shall be deductible from, and constitute a lien against, the assets of the Trust. (d) Any pecuniary cost of the Trustee resulting from actions taken to protect the Trust and the rights and interest of the Registered Owners pursuant to the terms of this Agreement, including, without limitation, the Trustee’s appearance in, prosecution of or defense of any action that it considers necessary or desirable to protect the Trust or the interests of the Beneficial Owners, shall be deductible from, and constitute a lien against, the assets of the Trust.