Common use of Clearing Status Clause in Contracts

Clearing Status. The Participant hereby represents and warrants that with respect to (i) all Orders of Creation Units of any Fund, it is a DTC Participant, (ii) any Order of Creation Units of any Fund initiated through the CNS Clearing Process, it is a Participating Party and (iii) any Order of Creation Units of any Fund initiated through the applicable Non-CNS Clearing Process, it has the ability to transact through such processes designated by such Fund. Any change in the status of the Participant with respect to subsection (i) of this Section 6.02 shall terminate this Agreement and the Participant shall give prompt written notice to the Distributor and the Company of such change. If, at any time, the Participant’s representation and warranty made in subsections (ii) or (iii) of this Section 6.02 becomes inaccurate, Participant shall give prompt (but in any event within two Business Days) written notice to the Distributor and the Company in writing, and, notwithstanding anything to the contrary herein, the Distributor or the Company may elect to immediately terminate this Agreement in their sole discretion.

Clearing Status. The Participant hereby represents and warrants that with respect to (i) all Orders of Creation Units of any FundSeries, it is a DTC Participant, (ii) any Order of Creation Units of any Fund Series initiated through the CNS Clearing Process, it is a Participating Party and (iii) any Order of Creation Units of any Fund Series initiated through the applicable Non-CNS Clearing Process, it has the ability to transact through such processes designated by such FundSeries. Any change in the status of the Participant with respect to subsection (i) of this Section 6.02 6(b) shall terminate this Agreement and the Participant shall give prompt written notice to the Distributor and the Company of such change. If, at any time, the Participant’s representation and warranty made in subsections (ii) or (iii) of this Section 6.02 6(b) becomes inaccurate, Participant shall give prompt (but in any event within two Business Days) written notice to the Distributor and the Company in writing, and, notwithstanding anything to the contrary herein, and the Distributor or the Company may elect to immediately terminate this Agreement Agreement, each in their sole discretion.