Common use of CUSTOM BASKETS Clause in Contracts

CUSTOM BASKETS. The Company has developed procedures for Creations and Redemptions using baskets of a basket of Deposit Securities and/or cash published or transacted on a Business Day (a “Custom Basket”). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Company in connection with a purchase or redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, the Funds’ investment adviser, or Company must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket on or prior to the time the AP calls with its Purchase Order and the AP must agree to deliver the Custom Basket in connection with the purchase. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities in the custom creation basket. For the avoidance of doubt, where an AP submits an order with certain positions marked as cash in lieu, such order is not subject to this provision.

CUSTOM BASKETS. The Company has developed procedures for Creations and Redemptions using baskets of securities and/or cash that differ from a basket of Deposit Securities and/or cash published or transacted on a Business Day (a “Custom Basketcustom basket”). In order for an AP to deliver or receive a Custom Basket custom basket to the Distributor or Transfer Agent and the Company in connection with a purchase or redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, the Funds’ investment adviser, Distributor or Company Transfer Agent must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket on or prior to the time the AP calls with its Purchase Order purchase order and the AP must agree to deliver the Custom Basket in connection with the purchase. Prior On or prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities in to be added to or omitted from the custom creation basket. For the avoidance of doubt, where an AP submits an order with certain positions marked as cash in lieu, such order is not subject to this provision.

CUSTOM BASKETS. The Company Each Trust has developed procedures for Creations and Redemptions creations using baskets of securities and/or cash that differ from a basket of Deposit Securities and/or cash published or transacted on a Business Day (a “Custom Creation Basket”). In order for an AP to deliver or receive a Custom Basket to the Distributor or Transfer Agent and the Company each Trust in connection with a purchase or redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, the Funds’ investment adviser, or Company Trust must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Creation Basket and identify the contents of the Custom Creation Basket on or prior to the time the AP calls with its Purchase Order and the AP must agree to deliver the Custom Creation Basket in connection with the purchase. Prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities in the custom creation basketCustom Creation Basket. For the avoidance of doubt, where an AP submits an order with certain positions marked as cash in lieu, such order is not subject to this provision. 1. PLACING A REDEMPTION ORDER.

CUSTOM BASKETS. The Company has developed procedures for Creations and Redemptions using baskets of securities and/or cash that differ from a basket of Deposit Securities and/or cash published or transacted on a Business Day (a “Custom Basketcustom basket”). In order for an AP to deliver or receive a Custom Basket custom basket to the Distributor or Transfer Agent and the Company in connection with a purchase or redemption order rather than the basket of Deposit Securities published by NSCC together with the Cash Amount, any cash in lieu amounts and any other cash fees, the Distributor, the Funds’ investment adviser, Distributor or Company Transfer Agent must notify the AP that the Fund would like to effect the purchase or redemption through a Custom Basket and identify the contents of the Custom Basket on or prior to the time the AP calls with its Purchase Order purchase order and the AP must agree to deliver the Custom Basket in connection with the purchase. Prior On or prior to trade date, the Transfer Agent must notify NSCC of the Deposit Securities in to be added to or omitted from the custom creation basket. For the avoidance of doubt, where an AP submits an order with certain positions marked as cash in lieu, such order is not subject to this provision 1. PLACING A REDEMPTION ORDER Redemption Orders for Creation Units of Shares may be initiated only on days that the Listing Exchange is open for trading. Redemption Orders may only be made in whole Creation Units of shares of each Fund.