Common use of EXECUTION OF PURCHASE ORDERS AND REDEMPTION ORDERS Clause in Contracts

EXECUTION OF PURCHASE ORDERS AND REDEMPTION ORDERS. (a) All Purchase Orders or Redemption Orders shall be made in accordance with the terms of the Prospectus and the procedures described in Annex II hereto . Each party hereto agrees to comply with the provisions of such documents to the extent applicable to it. It is contemplated that the telephone lines used by the BNY ETF Administrator of the Transfer Agent will be recorded, and the Authorized Participant hereby consents to the recording of all calls with the BNY ETF Administrator. The Trust reserves the right to issue additional or other procedures relating to the manner of purchasing or redeeming Creation Units and the Authorized Participant agrees to comply with such procedures as may be issued from time to time, including but not limited to the Cash Collateral Settlement Procedures that are referenced in Annex II hereto. (b) The Authorized Participant acknowledges and agrees on behalf of itself and any party for which it is acting (whether as a customer or otherwise) that delivery of a Purchase Order or Redemption Order shall be irrevocable, provided that the Trust and the Distributor on behalf of the Trust reserves the right to reject any Purchase Order until the trade is released as

EXECUTION OF PURCHASE ORDERS AND REDEMPTION ORDERS. (a) All Purchase Orders or Redemption Orders shall be made in accordance with the terms of the Prospectus and the procedures described in Annex II hereto Annexes I, 1-A, I-B and 1-C hereto. Each party hereto agrees to comply with the provisions of such documents to the extent applicable to it. It is contemplated that the telephone lines used by the BNY ETF Administrator of the Transfer Agent will be recorded, and the Authorized Participant hereby consents to the recording of all calls with the BNY ETF AdministratorTransfer Agent. The Trust reserves Managing Owner and the Distributor reserve the right to issue additional or other procedures relating to the manner of purchasing or redeeming Creation Units Units, and the Authorized Participant agrees to comply with such procedures as may be issued from time to time, including but not limited to the Cash Collateral Settlement Procedures that are referenced time provided it receives copies of such procedures in Annex II heretowriting. (b) The Authorized Participant acknowledges and agrees on behalf of itself and any party for which it is acting (whether as a customer or otherwise) that delivery of a Purchase Order or Redemption Order shall be irrevocable, provided that the Trust Fund and the Distributor on behalf of the Trust reserves Managing Owner and the Distributor reserve the right to reject any Purchase Order until the trade is released asas “affirmed” as described in Annexes I, I-A, 1-B and I-C hereto and any Redemption Order that is not in “proper form” as defined such Annexes and in the Prospectus.

EXECUTION OF PURCHASE ORDERS AND REDEMPTION ORDERS. (a) All Purchase Orders or Redemption Orders shall be made in accordance with the terms of the Prospectus and the procedures described in Annex II hereto Annexes I, I-A and I-B hereto. Each party hereto agrees to comply with the provisions of such documents to the extent applicable to it. It is contemplated that the telephone lines used by the BNY ETF Administrator of the Transfer Agent Distributor will be recorded, and the Authorized Participant hereby consents to the recording of all calls with the BNY ETF AdministratorDistributor. The Trust reserves Sponsor and the Distributor reserve the right to issue additional or other procedures relating to the manner of purchasing or redeeming Creation Units Shares, and the Authorized Participant agrees to comply with such procedures as may be issued from time to time, including but not limited to the Cash Collateral Settlement Procedures that are referenced in Annex II hereto. (b) The Authorized Participant acknowledges and agrees on behalf of itself and any party for which it is acting (whether as a customer or otherwise) that delivery of a Purchase Order or Redemption Order shall be irrevocable, provided that the Trust Fund, the Distributor and the Distributor on behalf of the Trust reserves Sponsor reserve the right to reject any Purchase Order until the trade is released asas "affirmed" as described in Annexes I, I-A and I-B hereto and any Redemption Order that is not in "proper form" as defined in these Annexes and in the Prospectus.