Common use of Global Certificate Only Clause in Contracts

Global Certificate Only. Certificates for Creation Units or Shares will not be issued, other than the applicable Global Securities issued to the Depository. So long as the Depository Agreement is in effect, Creation Units will be issued and redeemed and Shares will be transferable solely through the book-entry systems of the Depository and the DTC Participants and their Indirect DTC Participants as more fully described in Section 3.4 hereof. The Depository may determine to discontinue providing its service with respect to Creation Units and Shares by giving notice to the Sponsor pursuant to and in conformity with the provisions of the Depository Agreement and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, the Sponsor shall take action either to find a replacement for the Depository to perform its functions at a comparable cost and on terms acceptable to the Sponsor or, if such a replacement is unavailable, to terminate the Trust or any Fund, as applicable.

Global Certificate Only. Certificates for Creation Units or Shares will not be issued, other than the applicable Global Securities Security issued to the Depository. So long as the Depository Agreement is in effect, Creation Units will be issued and redeemed and Shares will be transferable solely through the book-entry systems of the Depository and the DTC Participants and their Indirect DTC Participants as more fully described in Section 3.4 hereof. The Depository may determine to discontinue providing its service with respect to Creation Units and Shares by giving notice to the Sponsor pursuant to and in conformity with the provisions of the Depository Agreement and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, the Sponsor shall take action either to find a replacement for the Depository to perform its functions at a comparable cost and on terms acceptable to the Sponsor or, if such a replacement is unavailable, to terminate the Trust or any Fundthe Funds, as applicable.