Common use of For International Funds Clause in Contracts

For International Funds. Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian of Fund on or before the Contractual Settlement Date (defined below). Participant must also make available on or before the Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "Contractual Settlement Date" is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction where the any of securities of the iShares Series are customarily traded. Except as provided in the next two paragraphs, a Creation Unit of iShares will not be issued until the transfer of good title to Fund of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have been completed. When the subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of Fund, the cash value thereof) have been delivered to the account of the relevant subcustodian, Custodian shall notify Distributor and Adviser, and Fund will issue and cause the delivery of the Creation Unit of iShares. Fund may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "cash in lieu" amount will be accepted, Distributor will notify Participant and Participant shall deliver, on behalf of itself or the party on whose behalf it is acting, the "cash in lieu" amount, with any appropriate adjustments as advised by Fund. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares because certain or all of the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's delivery and maintenance of collateral consisting of cash having a value at least equal to 125% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant by Distributor upon request. The parties hereto further agree that Fund may purchase the missing Deposit Securities at any time and Participant agrees to accept liability for any shortfall between the cost to Fund of purchasing such securities and the value of the collateral, which may be sold by Fund at such time, and in such manner, as Fund may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to FundTrust, immediately available or same day funds estimated by Fund Trust to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "International Contractual Settlement Date" with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery delivery, the acquisition of which would be prohibited by applicable law or regulation, or for other similar reasons. If Adviser notifies Distributor that a "cash in lieu" amount will be accepted, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "cash in lieu" amount, with any appropriate adjustments as advised by FundTrust. For T-1 Purchase Orders, the AP will deliver the “cash in lieu” amount on the Business Day following the day the Order was placed (T). For all other orders with respect to the International T-1 Funds, the AP will deliver the “cash in lieu” amount no later than the Business Day following the day the Order was placed. Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The issuance of Creation Units of Shares for the International T-1 Funds will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded, notwithstanding the delivery of the Cash Component prior to such date. (4) In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will Trust may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participantthe AP's delivery and maintenance of collateral consisting of cash having a value at least equal to 125% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Trust will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund Trust of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserAdvisor, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "“cash in lieu" ” amount will be accepteddelivered, Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fund. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Trust. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Trust may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Trust will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "International Contractual Settlement Date" of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund Trust of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserAdvisor, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery delivery, the acquisition of which would be prohibited by applicable law or regulation, or for other similar reasons. If Adviser notifies Distributor that a "cash in lieu" amount will be accepteddelivered, Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "cash in lieu" amount, with any appropriate adjustments as advised by FundTrust. Any excess funds For T-1 Orders and all other orders with respect to the International T-1 Funds, the AP will be returned following receive the “cash in lieu” amount on the settlement of the issue date of the Creation Unit Unit(s). The issuance of iShares. cash for T-1 Orders will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Trust may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participantthe AP's delivery and maintenance of collateral consisting of cash having a value at least equal to 125% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to FundTrust, immediately available or same day funds estimated by Fund Trust to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "" International Contractual Settlement Date" with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "cash in lieu" amount will be accepted, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "cash in lieu" amount, with any appropriate adjustments as advised by FundTrust. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Shares. (4) In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will Trust may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participantthe AP's delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Trust will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "International Contractual Settlement Date" of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund Trust of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserAdvisor, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "cash in lieu" amount will be accepteddelivered, Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "cash in lieu" amount, with any appropriate adjustments as advised by Fund. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Trust. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Trust may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participantthe AP's delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to FundTrust, immediately available or same day funds estimated by Fund Trust to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“ International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "“cash in lieu" ” amount will be accepted, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundTrust. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Shares. (4) In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will Trust may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. Except as provided below, Deposit Securities ------------------------ iShares must be ------------------------ delivered to an account maintained at the applicable local subcustodian of Fund on or before the Contractual Settlement Date (defined below)business day immediately following the date on which the redemption order was placed. Participant must The Fund will also make available on or before the Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with less the applicable purchase redemption transaction fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "Contractual Settlement Date" is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund Participant and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction where the any of securities of the iShares Series are customarily traded. Deliveries of redemption proceeds by the iShares Series generally will be made within three Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds may take longer than three Business Days after the day on which the Redemption Order is placed Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have required iShares aggregation has been completed. When the subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit iShares (or, when permitted in the sole discretion of Fund, the cash value thereof) have been delivered to the account of the relevant subcustodian, Custodian shall notify Distributor and Adviser, and Fund will issue and cause the delivery of the Creation Unit of iSharesDeposit Securities. Fund may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "cash in lieu" amount will be accepteddelivered, Distributor will notify Participant and Participant shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "cash in lieu" amount, with any appropriate adjustments as advised by Fund. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. In the event that a Portfolio Deposit an aggregation of iShares is incomplete on the settlement date for a Creation Redemption Unit of iShares because certain or all of iShares, the Fund will issue the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant to deliver the missing Deposit Securities iShares as soon as possible, which undertaking shall be secured by such Participant's delivery and maintenance of collateral consisting of cash having a value at least equal to 125% of the value of the missing Deposit SecuritiesiShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant by Distributor upon request. The parties hereto further agree that Fund may purchase the missing Deposit Securities iShares at any time and Participant agrees to accept liability for any shortfall between the cost to Fund of purchasing such securities and the value of the collateral, which may be sold by Fund at such time, and in such manner, as Fund may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Company on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Company will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Redemption Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund the Company of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserDistributor, and Fund the Company will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Company may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery delivery, the acquisition of which would be prohibited by applicable law or regulation, or for other similar reasons. If Adviser the Company notifies the Distributor and Transfer Agent via the order platform or electronic means that a "“cash in lieu" ” amount will be accepteddelivered, Distributor will notify Participant and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundCompany, including any applicable adjustment to the Transaction Fee as allowable by the Prospectus. Any excess funds For T-1 Orders and all other orders with respect to the International T-1 Funds, the AP will be returned following receive the “cash in lieu” amount on the settlement of the issue date of the Creation Unit Unit(s). The issuance of iShares. cash for T-1 Orders will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Company may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125115% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund the Company may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities and the value of the collateral, which may be sold by Fund the Company at such time, and in such manner, as Fund the Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ which are International Securities must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Trust on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Trust, immediately available or same day funds estimated by Fund the Trust to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus)) and all cash in lieu amounts. Any excess funds will be returned promptly following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component Component, all cash in lieu amounts and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to the Custodian that the required securities included in the Portfolio Creation Deposit (or, when permitted in the sole discretion of Fundthe Trust, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, the Custodian shall notify the Distributor and Adviser, and Fund the Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that The Distributor, Trust or Transfer Agent must notify the AP of such election on the date on which the AP submits its Purchase Order. The AP may also elect to add a "“cash in lieu" ” amount to the Cash Component to replace any Deposit Security with respect to any Domestic Fund that the AP is not authorized to purchase in the market for delivery or is not authorized to deliver to the Trust and the Distributor, consistent with applicable law or the internal policies and procedures of the AP. If the Trust notifies Distributor, Trust or Transfer Agent that a “cash in lieu” amount will be acceptedrequired or the AP elects to deliver a cash in lieu amount for the reasons described above, Distributor will notify Participant and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fundthe Trust. Any excess funds will be returned promptly following settlement of the issue of the Creation Unit of iShares. Shares. (4) In the event that a Portfolio Creation Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Trust may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares cash collateral settlement procedures recognized and described as follows: Outstanding failing securities from the underlying basket will be reviewed and the collateral requirements identified on a daily basis. Cash Collateral Settlement Procedurescollateral requirements will be based on a predetermined percentage of the value of the missing Deposit Securities established in the Agreement and will be accepted in lieu of missing shares. Upon receipt of cash collateral funds from the AP (cash equivalent for the failing securities from the underlying basket), which such procedures shall be provided the Transfer Agent will release the Shares. The AP agrees to Participant by Distributor provide missing securities as soon as possible, and upon requestreceipt of the securities the Transfer Agent will promptly return cash collateral funds to the AP. The Transfer Agent will continue to mxxx Shares to market on a daily basis between the days of the contractual settlement date of the Shares and the contractual settlement date of the failing securities from the underlying basket per creation, and the AP will provide the Transfer Agent with the cash equivalent for the marked to market value of each failing security in the underlying basket. The parties hereto further agree that Fund the Trust may purchase the missing Deposit Securities at any time in a commercially reasonable manner upon prior notice to the AP and Participant the AP agrees to accept liability for any shortfall between the actual cost to Fund the Trust of purchasing such securities securities, provided such cost is reasonable under the circumstances, and the value of the collateral, which may be sold by Fund the Trust at such time, and in such manner, as Fund the Trust may determine in its sole reasonable discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian of Fund Subcustodian on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Company will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund the Company of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to the Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and Adviserthe Distributor, and Fund the Company will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Company may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser the Company notifies Distributor that a "“cash in lieu" ” amount will be accepteddelivered, the Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fund. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Company. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Company may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided Shares marked to Participant by Distributor upon requestmarket daily. The parties hereto further agree that Fund the Company may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities and the value of the collateral, which may be sold by Fund the Company at such time, and in such manner, as Fund the Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Company on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Company, immediately available or same day funds estimated by Fund the Company to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Company and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Company of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Company will issue and cause the delivery of the Creation Unit of iShares. Fund may in its sole discretion Shares. (3) The Company reserves the right to accept a basket of securities or cash that differs from a basket of Deposit Securities and/or cash published or transacted on a Business Day, or to permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons). If Adviser the Company notifies the Distributor that a "cash in lieu" amount will be accepted, Distributor will notify Participant and Participant Transfer Agent via the order platform or electronic means the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundCompany, including any applicable adjustment to the Transaction Fee as allowable by the Prospectus. For T-1 Purchase Orders, the AP will deliver the “cash in lieu” amount on the Business Day following the day the Order was placed (T). For all other orders with respect to the International T-1 Funds, the AP will deliver the “cash in lieu” amount no later than the Business Day following the day the Order was placed. Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The issuance of Creation Units of Shares for the International T-1 Funds will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded, notwithstanding the delivery of the Cash Component prior to such date. (4) In the event that a Portfolio Creation Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Company may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125115% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Company may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities Deposit Securities and the value of the collateral, which may be sold by Fund Company at such time, and in such manner, as Fund Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Trust will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have required Creation Unit(s) has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit shares (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserAdvisor, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "“cash in lieu" ” amount will be accepteddelivered, Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fund. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Trust. (5) In the event that a Portfolio Deposit the number of shares is incomplete insufficient on the settlement date for a Creation Unit of iShares because certain or all of Unit(s), the Trust may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securitiesshares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedurescash collateral settlement procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Trust will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Redemption Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund the Trust of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of Fundthe Trust, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserDistributor, and Fund the Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery , the acquisition of which would be prohibited by applicable law or regulation, or for other similar reasons. If Adviser the Trust notifies Distributor that a "“cash in lieu" ” amount will be accepteddelivered, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or receive the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundTrust. Any excess funds The issuance of cash will be returned following occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded. For all other orders with respect to the issue International Funds, the AP will receive the “cash in lieu” amount on the settlement date of the Creation Unit of iShares. Unit(s). (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Trust may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund the Trust may purchase the missing Deposit Securities Shares at any time upon prior notice to the AP and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Trust of purchasing such securities and the value of the collateral, which may be sold by Fund the Trust at such time, and in such manner, as Fund the Trust may determine in its sole discretion. Notwithstanding the foregoing, the Distributor and the Trust agree not to use the cash on deposit posted by the Authorized Participant to purchase missing Shares unless and until they have notified the AP of their intention to do so and provided the AP with a reasonable opportunity to deliver such Shares.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Company on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Company, immediately available or same day funds estimated by Fund the Company to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Company and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Company of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Company will issue and cause the delivery of the Creation Unit of iShares. Fund may in its sole discretion Shares. (3) The Company reserves the right to accept a basket of securities or cash that differs from a basket of Deposit Securities and/or cash published or transacted on a Business Day, or to permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons). If Adviser the Company notifies the Distributor that a "cash in lieu" amount will be accepted, Distributor will notify Participant and Participant Transfer Agent via the order platform or electronic means the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundCompany,including any applicable adjustment to the Transaction Fee as allowable by the Prospectus. For T-1 Purchase Orders, the AP will deliver the “cash in lieu” amount on the Business Day following the day the Order was placed (T). For all other orders with respect to the International T-1 Funds, the AP will deliver the “cash in lieu” amount no later than the Business Day following the day the Order was placed. Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The issuance of Creation Units of Shares for the International T-1 Funds will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded, notwithstanding the delivery of the Cash Component prior to such date. (4) In the event that a Portfolio Creation Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Company may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125115% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Company may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities Deposit Securities and the value of the collateral, which may be sold by Fund Company at such time, and in such manner, as Fund Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian of Fund Subcustodian on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Trust, immediately available or same day funds estimated by Fund the Trust to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to the Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of Fundthe Trust, the cash value thereof) have been delivered to the account of the relevant subcustodianthe Subcustodian, the Custodian shall notify the Distributor and Adviser, and Fund the Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser the Trust notifies Distributor that a "“cash in lieu" ” amount will be accepted, the Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fundthe Trust. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Shares. (4) In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Trust may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor the Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Trust of purchasing such securities and the value of the collateral, which may be sold by Fund the Trust at such time, and in such manner, as Fund the Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian of Fund Subcustodian on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Company, immediately available or same day funds estimated by Fund the Company to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Company and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Company of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to the Custodian that the required securities included in the Portfolio Deposit (or, when permitted permitted, in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of the relevant subcustodianthe Subcustodian, the Custodian shall notify the Distributor and Adviser, and Fund the Company will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Company may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser the Company notifies Distributor that a "“cash in lieu" ” amount will be accepted, the Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fundthe Company. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Shares. (4) In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Company may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided Securities marked to Participant by Distributor upon requestmarket daily. The parties hereto further agree that Fund the Company may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities Deposit Securities and the value of the collateral, which may be sold by Fund the Company at such time, and in such manner, as Fund the Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Company on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Company will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Redemption Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund the Company of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserDistributor, and Fund the Company will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Company may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery , the acquisition of which would be prohibited by applicable law or regulation, or for other similar reasons. If Adviser the Company notifies Distributor that a "“cash in lieu" ” amount will be accepteddelivered, Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundCompany. Any excess funds For T-1 Orders and all other orders with respect to the International T-1 Funds, the AP will be returned following receive the “cash in lieu” amount on the settlement of the issue date of the Creation Unit Unit(s). The issuance of iShares. cash for T-1 Orders will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Company may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125115% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund the Company may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities and the value of the collateral, which may be sold by Fund the Company at such time, and in such manner, as Fund the Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Company on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Company will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Redemption Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund the Company of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserDistributor, and Fund the Company will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Company may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery delivery, the acquisition of which would be prohibited by applicable law or regulation, or for other similar reasons. If Adviser the Company notifies the Distributor and Transfer Agent via the order platform or electronic means that a "“cash in lieu" ” amount will be accepteddelivered, Distributor will notify Participant and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundCompany, including any applicable adjustment to the Transaction Fee as allowable by the Prospectus. Any excess funds For T-1 Orders and all other orders with respect to the International T-1 Funds, the AP will be returned following receive the “cash in lieu” amount on the settlement of the issue date of the Creation Unit Unit(s). The issuance of iShares. cash for T-1 Orders will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Company may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125115% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund the Company may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities and the value of the collateral, which may be sold by Fund the Company at such time, and in such manner, as Fund the Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares of any International Fund must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Trust on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Trust will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Redemption Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, and certain other local market events in those countries that temporarily preclude delivery of the redemption proceeds, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed, but only for such additional time as is necessary to account for the period of time in which the Subcustodian was unable to make delivery due to the holiday or such local market events. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund the Trust of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to the Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of Fundthe Trust, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and Adviserthe Distributor, and Fund the Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser the Trust notifies the Distributor that a "“cash in lieu" ” amount will be accepteddelivered, the Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fundthe Trust. Any excess funds will be returned following settlement of The AP may also elect to replace any Deposit Securities with a “cash in lieu” amount to the issue of extent that the Creation Unit of iShares. AP is not authorized to purchase the particular Deposit Securities from the Fund or is not able to sell the particular Deposit Securities in the secondary market, consistent with restrictions in applicable law or the AP’s internal policies and procedures. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Trust may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance a manner consistent with the iShares Cash Collateral Settlement Procedurescash collateral settlement procedures described above in Section 5(a)(3) of this Annex II Part B, which such procedures shall be provided relating to Participant by Distributor upon requestDomestic Funds. The parties hereto further agree that Fund the Trust may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the actual cost to Fund the Trust of purchasing such securities securities, provided that such cost is reasonable under the circumstances, and the value of the collateral, which may be sold by Fund the Trust at such time, and in such manner, as Fund the Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Company on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Company will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund Company of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of FundCompany, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and AdviserAdvisor, and Fund Company will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Company may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "“cash in lieu" ” amount will be accepteddelivered, Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fund. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Company. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Company may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Company may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Company of purchasing such securities and the value of the collateral, which may be sold by Fund Company at such time, and in such manner, as Fund Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to FundTrust, immediately available or same day funds estimated by Fund Trust to be sufficient to pay the Cash Component Requirement next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "International Contractual Settlement Date" with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component Requirement and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund Trust of the portfolio of Deposit Securities and the payment of the Cash Component Requirement and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "cash in lieu" amount) to be added to the Cash Component Requirement to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "cash in lieu" amount will be accepted, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "cash in lieu" amount, with any appropriate adjustments as advised by FundTrust. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Shares. (4) In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund Trust will issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participantthe AP's delivery and maintenance of collateral consisting of cash having a value at least equal to [125% ]of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares _____________ Shares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ which are International Securities must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Trust on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Trust, immediately available or same day funds estimated by Fund the Trust to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus)) and all cash in lieu amounts. Any excess funds will be returned promptly following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component Component, all cash in lieu amounts and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to the Custodian that the required securities included in the Portfolio Creation Deposit (or, when permitted in the sole discretion of Fundthe Trust, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, the Custodian shall notify the Distributor and Adviser, and Fund the Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that The Distributor, Trust or Transfer Agent must notify the AP of such election on the date on which the AP submits its Purchase Order. The AP may also elect to add a "“cash in lieu" ” amount to the Cash Component to replace any Deposit Security with respect to any Domestic Fund that the AP is not authorized to purchase in the market for delivery or is not authorized to deliver to the Trust and the Distributor, consistent with applicable law or the internal policies and procedures of the AP. If the Trust notifies Distributor, Trust or Transfer Agent that a “cash in lieu” amount will be acceptedrequired or the AP elects to deliver a cash in lieu amount for the reasons described above, Distributor will notify Participant and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fundthe Trust. Any excess funds will be returned promptly following settlement of the issue of the Creation Unit of iShares. Shares. (4) In the event that a Portfolio Creation Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Trust may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares cash collateral settlement procedures recognized and described as follows: Outstanding failing securities from the underlying basket will be reviewed and the collateral requirements identified on a daily basis. Cash Collateral Settlement Procedurescollateral requirements will be based on a predetermined percentage of the value of the missing Deposit Securities established in the Agreement and will be accepted in lieu of missing shares. Upon receipt of cash collateral funds from the AP (cash equivalent for the failing securities from the underlying basket), which such procedures shall be provided the Transfer Agent will release the Shares. The AP agrees to Participant by Distributor provide missing securities as soon as possible, and upon requestreceipt of the securities the Transfer Agent will promptly return cash collateral funds to the AP. The Transfer Agent will continue to xxxx Shares to market on a daily basis between the days of the contractual settlement date of the Shares and the contractual settlement date of the failing securities from the underlying basket per creation, and the AP will provide the Transfer Agent with the cash equivalent for the marked to market value of each failing security in the underlying basket. The parties hereto further agree that Fund the Trust may purchase the missing Deposit Securities at any time in a commercially reasonable manner upon prior notice to the AP and Participant the AP agrees to accept liability for any shortfall between the actual cost to Fund the Trust of purchasing such securities securities, provided such cost is reasonable under the circumstances, and the value of the collateral, which may be sold by Fund the Trust at such time, and in such manner, as Fund the Trust may determine in its sole reasonable discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares of any International Fund must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Trust on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Trust will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Redemption Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries and certain other local market events in those countries that temporarily preclude delivery of the redemption proceeds, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed, but only for such additional time as is necessary to account for the period of time in which the Subcustodian was unable to make delivery due to the holiday or such local market events. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund the Trust of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to the Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of Fundthe Trust, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and Adviserthe Distributor, and Fund the Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser the Trust notifies the Distributor that a "“cash in lieu" ” amount will be accepteddelivered, the Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fundthe Trust. Any excess funds will be returned following settlement of The AP may also elect to replace any Deposit Securities with a “cash in lieu” amount to the issue of extent that the Creation Unit of iShares. AP is not authorized to purchase the particular Deposit Securities from the Fund or is not able to sell the particular Deposit Securities in the secondary market, consistent with restrictions in applicable law or the AP’s internal policies and procedures. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Trust may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance a manner consistent with the iShares Cash Collateral Settlement Procedurescash collateral settlement procedures described above in Section 5(a)(3) of this Annex II Part B, which such procedures shall be provided relating to Participant by Distributor upon requestDomestic Funds. The parties hereto further agree that Fund the Trust may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the actual cost to Fund the Trust of purchasing such securities securities, provided that such cost is reasonable under the circumstances, and the value of the collateral, which may be sold by Fund the Trust at such time, and in such manner, as Fund the Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Company on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Company, immediately available or same day funds estimated by Fund the Company to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Company and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Company of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Company will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Company may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery delivery, the acquisition of which would be prohibited by applicable law or regulation, or for other similar reasons. If Adviser Company notifies Distributor that a "“cash in lieu" ” amount will be accepted, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundCompany. For T-1 Purchase Orders, the AP will deliver the “cash in lieu” amount on the Business Day following the day the Order was placed (T). For all other orders with respect to the International T-1 Funds, the AP will deliver the “cash in lieu” amount no later than the Business Day following the day the Order was placed. Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The issuance of Creation Units of Shares for the International T-1 Funds will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded, notwithstanding the delivery of the Cash Component prior to such date. (4) In the event that a Portfolio Creation Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Company may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125115% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Company may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities Deposit Securities and the value of the collateral, which may be sold by Fund Company at such time, and in such manner, as Fund Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Company on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Company, immediately available or same day funds estimated by Fund the Company to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Company and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Company of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of Fundthe Company, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Company will issue and cause the delivery of the Creation Unit of iShares. Fund may in its sole discretion Shares. (3) The Companyreserves the right to accept a basket of securities or cash that differs from a basket of Deposit Securities and/or cash published or transacted on a Business Day, or to permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons). If Adviser the Company notifies the Distributor that a "cash in lieu" amount will be accepted, Distributor will notify Participant and Participant Transfer Agent via the order platform or electronic means the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundCompany,including any applicable adjustment to the Transaction Fee as allowable by the Prospectus. For T-1 Purchase Orders, the AP will deliver the “cash in lieu” amount on the Business Day following the day the Order was placed (T). For all other orders with respect to the International T-1 Funds, the AP will deliver the “cash in lieu” amount no later than the Business Day following the day the Order was placed. Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The issuance of Creation Units of Shares for the International T-1 Funds will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded, notwithstanding the delivery of the Cash Component prior to such date. (4) In the event that a Portfolio Creation Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Company may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125115% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Company may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Company of purchasing such securities Deposit Securities and the value of the collateral, which may be sold by Fund Company at such time, and in such manner, as Fund Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ the Shares must be delivered to an account maintained at the applicable local subcustodian of Fund Subcustodian on or before the Contractual Settlement Date (defined below)Business Day immediately following the date on which the redemption order was placed. Participant must The Trust will also make available on or before the International Contractual Settlement Date, by means satisfactory to Fund, immediately available or same day funds estimated by Fund to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with less the applicable purchase transaction fee redemption Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. The "“International Contractual Settlement Date" ” of an International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due Securities are delivered to Fund the AP and (ii) and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. (2) Deliveries of redemption proceeds by the Funds generally will be made within three (3) Business Days. Due to the schedule of holidays in certain countries, however, the delivery of in-kind redemption proceeds of International Funds may take longer than three Business Days after the day on which the Redemption Order is placed. (3) Except as provided in the next two paragraphs, a Creation Unit of iShares the Deposit Securities will not be issued until the transfer of good title to Fund the Trust of the portfolio required Creation Unit(s) of Deposit Securities and the payment of the Cash Component and the purchase transaction fee have Shares has been completed. When the subcustodian relevant Subcustodian confirms to the Custodian that the required securities included in the Portfolio Deposit Shares (or, when permitted in the sole discretion of Fundthe Trust, the cash value thereof) have been delivered to the account of such Subcustodian, the relevant subcustodian, Custodian shall notify Distributor and Adviserthe Distributor, and Fund the Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Deposit Securities. (4) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser the Trust notifies Distributor that a "“cash in lieu" ” amount will be accepteddelivered, the Distributor will notify Participant the AP and Participant the AP shall deliverreceive, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by Fund. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Trust. (5) In the event that a Portfolio Deposit the number of Shares is incomplete insufficient on the settlement date for a Creation Unit Unit(s) of iShares because certain or all of Shares, the Trust may deliver the Deposit Securities are missing, Fund will issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities Shares as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit SecuritiesShares. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor the Transfer Agent upon request. The parties hereto further agree that Fund the Trust may purchase the missing Deposit Securities Shares at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Trust of purchasing such securities and the value of the collateral, which may be sold by Fund the Trust at such time, and in such manner, as Fund the Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Trust on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to FundTrust, immediately available or same day funds estimated by Fund Trust to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee (as described in the Prospectus)Transaction Fee. Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesUnit. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares will not be issued until the transfer of good title to Fund Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of FundTrust, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Unit. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "“cash in lieu" ” amount will be accepted, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundTrust. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Unit. (4) In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares because certain or all of the Deposit Securities are missing, Fund will Trust may issue a Creation Unit of iShares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedurescash collateral settlement procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Trust of purchasing such securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund Company on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to FundCompany, immediately available or same day funds estimated by Fund Company to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“ International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Company and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund Company of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of FundCompany, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Company will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Company may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery or for other similar reasons. If Adviser notifies Distributor that a "“cash in lieu" ” amount will be accepted, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundCompany. Any excess funds will be returned following settlement of the issue of the Creation Unit of iShares. Shares. (4) In the event that a Portfolio Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will Company may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Company may purchase the missing Deposit Securities at any time and Participant the AP agrees to accept liability for any shortfall between the cost to Fund Company of purchasing such securities and the value of the collateral, which may be sold by Fund Company at such time, and in such manner, as Fund Company may determine in its sole discretion.

For International Funds. (1) Except as provided below, Deposit Securities ------------------------ must be delivered to an account maintained at the applicable local subcustodian Subcustodian of Fund the Trust on or before the International Contractual Settlement Date (defined below). Participant The AP must also make available on or before the International Contractual Settlement Date, by means satisfactory to Fundthe Trust, immediately available or same day funds estimated by Fund the Trust to be sufficient to pay the Cash Component next determined after acceptance of the Purchase Order, together with the applicable purchase transaction fee Transaction Fee (as described in the Prospectus). Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The "“International Contractual Settlement Date" ” with respect to each International Fund is the earlier of (i) the date upon which all of the required Deposit Securities, the Cash Component and any other cash amounts which may be due are delivered to Fund Trust and (ii) the latest day for settlement on the customary settlement cycle in the jurisdiction jurisdiction(s) where the any of the securities of the iShares Series such International Fund are customarily traded. . (2) Except as provided in the next two paragraphs, a Creation Unit of iShares Shares will not be issued until the transfer of good title to Fund the Trust of the portfolio of Deposit Securities and the payment of the Cash Component and the purchase transaction fee Transaction Fee have been completed. When the subcustodian Subcustodian confirms to Custodian that the required securities included in the Portfolio Deposit (or, when permitted in the sole discretion of Fundthe Trust, the cash value thereof) have been delivered to the account of the relevant subcustodianSubcustodian, Custodian shall notify Distributor and Adviser, and Fund Trust will issue and cause the delivery of the Creation Unit of iShares. Fund Shares. (3) The Trust may in its sole discretion permit or require the substitution of an amount of cash (i.e., a "“cash in lieu" ” amount) to be added to the Cash Component to replace any Deposit Security which may not be available in sufficient quantity for delivery delivery, the acquisition or disposition of which would be prohibited by applicable law or regulation, or for other similar reasons. If Adviser Trust notifies Distributor that a "“cash in lieu" ” amount will be accepted, Distributor will notify Participant the AP and Participant the AP shall deliver, on behalf of itself or deliver the party on whose behalf it is acting, the "“cash in lieu" ” amount, with any appropriate adjustments as advised by FundTrust. Any excess funds will be returned following settlement of the issue of the Creation Unit of iSharesShares. The issuance of Creation Units of Shares for the International Funds will occur on the latest day for settlement on the customary settlement cycle in the jurisdictions where the securities of such Funds are traded, notwithstanding the delivery of the Cash Component prior to such date. (4) In the event that a Portfolio Creation Deposit is incomplete on the settlement date for a Creation Unit of iShares Shares because certain or all of the Deposit Securities are missing, Fund will the Trust may issue a Creation Unit of iShares Shares notwithstanding such deficiency in reliance on the undertaking of Participant the AP to deliver the missing Deposit Securities as soon as possible, which undertaking shall be secured by such Participant's the AP’s delivery and maintenance of collateral consisting of cash having a value at least equal to 125105% of the value of the missing Deposit Securities. The parties hereto agree that the delivery of such collateral shall be made in accordance with the iShares Cash Collateral Settlement Procedures, which such procedures shall be provided to Participant the AP by Distributor Transfer Agent upon request. The parties hereto further agree that Fund Trust may purchase the missing Deposit Securities at any time upon prior notice to the Authorized Participant and Participant the AP agrees to accept liability for any shortfall between the cost to Fund the Trust of purchasing such securities Deposit Securities and the value of the collateral, which may be sold by Fund Trust at such time, and in such manner, as Fund Trust may determine in its sole discretion. Notwithstanding the foregoing, the Distributor and the Trust agree not to use the cash on deposit posted by the AP to purchase missing Deposit Securities unless and until they have notified the AP of their intention to do so and provided the AP with a reasonable opportunity to cure such incomplete Creation Deposit.