Common use of Limitations on Trustees' Powers Clause in Contracts

Limitations on Trustees' Powers. The Trustees, acting on behalf of the Trust, are not permitted: (a) to purchase or hold any securities or instruments except for the U.S. Treasury Securities, the Contract, any Reference Security received pursuant to the Contract, and the Temporary Investments contemplated by Section 3.4 hereof; (b) to dispose of the Contract prior to the Exchange Date; (c) to issue any securities or instruments except for the STRYPES, or to issue any STRYPES other than the STRYPES sold to the Sponsors and the STRYPES to be sold pursuant to the Purchase Agreement and until such STRYPES have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans; or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.

Limitations on Trustees' Powers. The Trustees, acting on behalf of the Trust, Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the U.S. Treasury SecuritiesShares, the Contract, any Reference Security received pursuant to the ContractTreasury Securities, and the Temporary Investments contemplated by Section 3.4 hereof3.5 hereof and, in the event of a Reorganization Event, Marketable Securities; (b) to dispose of the Contract prior to the Exchange Date;] (c) to issue any securities or instruments except for the STRYPESTIMES, or to issue any STRYPES TIMES other than the STRYPES TIMES sold to the Sponsors Sponsor and the STRYPES TIMES to be sold pursuant to the Purchase Underwriting Agreement and until such STRYPES TIMES have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans; or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.

Limitations on Trustees' Powers. The Trustees, acting on behalf of the Trust, Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the U.S. Shares, the Contracts, the Treasury Securities, the Contract, any Reference Security received pursuant to the Contract, and the Temporary Investments contemplated contem plated by Section 3.4 hereof3.5 hereof and, in the event of a Reorganization Event, Marketable Securities; (b) to dispose of the Contract Contracts prior to the Exchange Date; (c) to issue any securities or instruments except for the STRYPESSecurities, or to issue any STRYPES Securities other than the STRYPES Securities sold to the Sponsors Sponsor and the STRYPES Securi ties to be sold pursuant to the Purchase Underwriting Agreement and until such STRYPES Securities have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans; or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.