Common use of Formation of Trust Clause in Contracts

Formation of Trust. (a) The trust created hereby (the “Trust”) shall be known as “Dynamic Shares Trust,” in which name the Owner Trustee and the Depositor may conduct the business of the Trust, make and execute contracts, and sxx and be sued. (b) The Depositor hereby assigns, transfers, conveys and sets over to the Owner Trustee the sum of $1.00. The Owner Trustee hereby acknowledges receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Owner Trustee hereby declares that it will hold the trust estate in trust for the Depositor. It is the intention of the parties hereto that the Trust created hereby constitute a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq. (the “Act”) and that this Trust Agreement constitute the governing instrument of the Trust. The Owner Trustee is hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in the form attached hereto. (c) The parties hereto will enter into an amended and restated trust agreement, satisfactory to each such party, to provide for the contemplated operation of the Trust created hereby and the issuance of certain notes by the Trust. Prior to the execution and delivery of such amended and restated trust agreement, the Owner Trustee shall not have any duty or obligation hereunder or with respect to the trust estate, except as otherwise required by applicable law or this Trust Agreement. The Depositor is hereby authorized to prepare, execute and deliver, or to cause to be prepared, executed and delivered, on behalf of the Trust, any applications, licenses, consents, agreements or other documents necessary or convenient for the business of the Trust. Notwithstanding the foregoing, the Owner Trustee shall have the power and authority to enter into such documents and take such other action as the Depositor specifically directs in written instructions delivered to the Owner Trustee; provided, however, the Owner Trustee shall not be required to take any action if the Owner Trustee shall determine, or shall be advised by counsel, that such action is likely to result in personal liability or is contrary to applicable law or any agreement to which the Owner Trustee is a party.

Formation of Trust. (a) a. The trust created hereby (the “Trust”) shall be known as “Dynamic Shares Trust,” Exeter Automobile Receivables Trust 20 - ”, in which name the Owner Trustee and the Depositor may conduct the business of the Trust, make and execute contracts, and sxx sue and be sued. (b) b. The Depositor hereby assigns, transfers, conveys and sets over to the Owner Trustee the sum of $1.00. The Owner Trustee hereby acknowledges receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Owner Trustee hereby declares that it will hold the trust estate in trust for the Depositor. It is the intention of the parties hereto that the Trust created hereby constitute constitutes a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq. (the “Act”) and that this Trust Agreement constitute constitutes the governing instrument of the Trust. The Owner Trustee is hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in the form attached hereto. (c) c. The parties hereto will enter into an amended and restated trust agreement, satisfactory to each such party, to provide for the contemplated operation of the Trust created hereby and the issuance of certain notes by the Trust. Prior to the execution and delivery of such amended and restated trust agreement, the Owner Trustee shall not have any duty or obligation hereunder or with respect to the trust estate, except as otherwise required by applicable law or this Trust Agreement. The Depositor is hereby authorized to prepare, execute and deliver, or to cause to be prepared, executed and delivered, on behalf of the Trust, any applications, licenses, consents, agreements or other documents necessary or convenient for the business of the Trust. Notwithstanding the foregoing, the Owner Trustee shall have the power and authority to enter into such documents and take such other action as the Depositor specifically directs in written instructions delivered to the Owner Trustee; provided, however, the Owner Trustee shall not be required to take any action if the Owner Trustee shall determine, or shall be advised by counsel, that such action is likely to result in personal liability or is contrary to applicable law or any agreement to which the Owner Trustee is a party.

Formation of Trust. (a) a. The trust created hereby (the “Trust”) shall be known as “Dynamic Shares Trust,” Exeter Automobile Receivables Trust 20 - ”, in which name the Owner Trustee and the Depositor may conduct the business of the Trust, make and execute contracts, and sxx xxx and be sued. (b) b. The Depositor hereby assigns, transfers, conveys and sets over to the Owner Trustee the sum of $1.00. The Owner Trustee hereby acknowledges receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Owner Trustee hereby declares that it will hold the trust estate in trust for the Depositor. It is the intention of the parties hereto that the Trust created hereby constitute constitutes a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq. (the “Act”) and that this Trust Agreement constitute constitutes the governing instrument of the Trust. The Owner Trustee is hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in the form attached hereto. (c) c. The parties hereto will enter into an amended and restated trust agreement, satisfactory to each such party, to provide for the contemplated operation of the Trust created hereby and the issuance of certain notes by the Trust. Prior to the execution and delivery of such amended and restated trust agreement, the Owner Trustee shall not have any duty or obligation hereunder or with respect to the trust estate, except as otherwise required by applicable law or this Trust Agreement. The Depositor is hereby authorized to prepare, execute and deliver, or to cause to be prepared, executed and delivered, on behalf of the Trust, any applications, licenses, consents, agreements or other documents necessary or convenient for the business of the Trust. Notwithstanding the foregoing, the Owner Trustee shall have the power and authority to enter into such documents and take such other action as the Depositor specifically directs in written instructions delivered to the Owner Trustee; provided, however, the Owner Trustee shall not be required to take any action if the Owner Trustee shall determine, or shall be advised by counsel, that such action is likely to result in personal liability or is contrary to applicable law or any agreement to which the Owner Trustee is a party.

Formation of Trust. (a) The trust created formed hereby shall be known as “ProShares Trust III” (the “Trust”) shall be known as “Dynamic Shares Trust,” in which name the Owner Sponsor or the Trustee and the Depositor may conduct the business of the TrustTrust to the extent provided herein, make and execute contracts, and sxx sue and be sued. (b) The Depositor Sponsor hereby assigns, transfers, conveys and sets over to the Owner Trustee Trust the sum of $1.00. The Owner Trustee hereby acknowledges receipt of such amount in trust from the Depositor1, which amount shall constitute the initial trust estate. The Owner Trustee hereby declares that it will hold the trust estate shall be held in trust for the DepositorSponsor. It is the intention of the parties hereto that the Trust created hereby constitute a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq. (the “Delaware Act”) and that this Trust Agreement constitute the governing instrument of the Trust. The Owner Trustee is hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in the form attached hereto. (c) The parties hereto will enter into an amended and restated trust agreement, satisfactory to each such party, to provide for the contemplated operation of the Trust created hereby and the issuance of certain notes by the Trust. Prior to the execution and delivery of such amended and restated trust agreement, the Owner Trustee shall not have any duty or obligation hereunder or with respect to the trust estate, except as otherwise required by applicable law or this Trust Agreement. The Depositor is hereby authorized to prepare, execute and deliver, or to cause to be prepared, executed and delivered, on behalf of the Trust, any applications, licenses, consents, agreements or other documents necessary or convenient for the business of the Trust. Notwithstanding the foregoing, the Owner Trustee shall have the power and authority directed to enter into such documents and take such other action only as the Depositor Sponsor specifically directs in written instructions delivered to the Owner Trustee; provided, however, the Owner Trustee shall not be required to take any action if the Owner Trustee shall determine, or shall be advised by counsel, that such action is likely to result in personal liability or is contrary to applicable law or any agreement to which the Owner Trustee is a party. The Sponsor shall have the exclusive authority to manage the business and affairs of the Trust as an agent of the Trust pursuant to Section 3806(b)(7) of the Delaware Act. The Sponsor shall be entitled to appoint officers of the Trust with such titles and duties as the Sponsor shall designate, each such officer to serve (a) until his or her successor shall have been elected and shall have qualified, (b) until his or her death or (c) until he or she shall have resigned or have been removed, with or without cause, by the Sponsor. (d) Without limiting the power and authority of the Sponsor and the officers of the Trust to take other actions on behalf of the Trust, the Sponsor and the officers of the Trust are hereby authorized: (i) to prepare and file with the Securities and Exchange Commission (the “Commission”) and execute, in each case on behalf of the Trust, as applicable, (a) a Registration Statement on Form S-1 (including any pre-effective or post-effective amendments thereto) relating to the registration of the securities of the Trust under the Securities Act of 1933, as amended (the “1933 Act”), (b) subscription documents, including any amendments to such subscription documents, relating to the initial public offering of the securities of the Trust, and (c) a Registration Statement on Form 8-A (including any pre-effective or post-effective amendments thereto) relating to the registration of the securities of the Trust under Section 12(g) of the Securities Exchange Act of 1934, as amended, (ii) to negotiate the terms of, and execute on behalf of the Trust, such distribution agreements, investment advisory agreements and other contracts among the Trust and any other persons relating to the issuance of the securities of the Trust, satisfactory to each such party, (iii) to establish and maintain accounts with any institution for the purpose of purchasing, investing in, selling, transferring, exchanging or otherwise disposing of, and generally dealing in and with, any and all forms of securities, and on the terms and conditions such Authorized Person deems appropriate, (iv) to execute any and all agreements which shall be deemed necessary or advisable in connection with the purchase and sale of futures contracts, swap agreements, options contracts and other derivative instruments, (v) to obtain Directors and Officers / Errors and Omissions insurance coverage, and (vi) to make any and all necessary filings, including the filing of applications and documents with the Commission, Commodity Futures Trading Commission, National Futures Association, state tax authorities, Internal Revenue Service and such other agencies as shall be recommended by counsel for the Trust, and to take any and all actions, including, without limitation, the execution and delivery of any and all documents, amendments, certificates or other instruments, that they, together with and upon the advice of counsel, shall deem necessary or advisable to conduct the business of the Trust, such determination to be conclusively evidenced by the taking of such actions and steps and the execution and delivery of such documents, amendments, certificates or other instruments.

Formation of Trust. (a) The trust created hereby shall be known as Xxxxxxx Xxx MSCR Trust MN9 (the “Trust”) shall be known as “Dynamic Shares Trust,” in which name the Owner Trustee and the Depositor Sponsor may conduct the business of the Trust, make and execute contracts, and sxx sue and be sued. (b) The Depositor hereby assigns, transfers, conveys and sets over to the Owner Trustee the sum of $1.00. The Owner Trustee hereby acknowledges receipt of such amount in trust from the Depositor, which amount shall constitute the initial trust estate. The Owner Trustee hereby declares that it will hold the trust estate in trust for the DepositorSponsor. It is the intention of the parties hereto that the Trust created hereby constitute constitutes a statutory trust under Chapter 38 of Title 12 of the Delaware Code, 12 Del. C. § 3801 et seq. (the “Act”) and that this Trust Agreement constitute constitutes the governing instrument of the Trust. The Owner Trustee is hereby authorized and directed to execute and file a certificate of trust with the Delaware Secretary of State in the form attached hereto. (c) The parties hereto Sponsor and the Owner Trustee will enter into an amended and restated trust agreement, satisfactory to each such party, to provide for the contemplated operation of the Trust created hereby and the issuance of certain notes by the Trusthereby. Prior to the execution and delivery of such amended and restated trust agreement, the Owner Trustee shall not have any duty or obligation hereunder or with respect to the trust estate, estate except as otherwise required by applicable law or this Trust Agreement. The Depositor Sponsor is hereby authorized to prepare, execute in the name and deliver, or to cause to be prepared, executed and delivered, on behalf of the TrustTrust such documents, any applications, licenses, consents, agreements notices or filings and to take such other documents action on behalf of the Trust as may be necessary or convenient for incidental to the conduct of the business of the Trust. Notwithstanding the foregoing, the . (d) The Owner Trustee shall have the power and authority to enter into execute and deliver, in the name and on behalf of the Trust, such documents and take such other action as the Depositor Sponsor specifically directs in written instructions delivered to the Owner Trustee; provided, however, the Owner Trustee shall not be required to take any action if the Owner Trustee shall determine, or shall be advised by counsel, that such action is likely to result in personal liability or is contrary to applicable law or any agreement to which the Owner Trustee is a party.