Common use of Delegation by the Trustee Clause in Contracts

Delegation by the Trustee. The Trustee shall be entitled to delegate any of its powers and obligations with respect to determining the Net Asset Value of the Trust and the Net Asset Value per Unit to a service provider including, but not limited to, the Valuation Agent or the Manager, and may enter into the Valuation Services Agreement relating to, among other things, the calculation of the Net Asset Value of the Trust and, the Net Asset Value per Unit as at the Valuation Time on each Valuation Date. For greater certainty, the calculation of the Net Asset Value of the Trust and the Net Asset Value per Unit as at the Valuation Time on each Valuation Date pursuant to this Article 3 is for the purposes of determining subscription prices and redemption values of Units and not for the purposes of accounting in accordance with IFRS.