Common use of Manner of Participation Clause in Contracts

Manner of Participation. Every transaction of a TRUSTOR/s shall be made through the purchase of units arrived at by dividing the transaction amount by the applicable Net Asset Value per unit (the “NAVPU”). New contributions to the FUND shall serve to increase the FUND’s total outstanding units. Conversely, any redemption out of the FUND serves to decrease the FUND’s total outstanding units. TRUSTOR/s shall have only an undivided interest in the FUND in proportion to their unit holdings. The TRUSTEE/MANAGER has the sole discretion to accept participation and expressly reserves its right to reject or refuse any participation, investment or contribution in the FUND by any person or entity for any reason whatsoever.

Manner of Participation. Every transaction of a TRUSTOR/s TRUSTOR shall be made through the purchase of units arrived at by dividing the transaction amount by the applicable Net Asset Value per unit (the “NAVPU”)unit. New contributions to the FUND shall serve to increase the FUND’s total outstanding units. Conversely, any redemption out of the FUND serves to decrease the FUND’s total outstanding units. TRUSTOR/s shall have only an undivided interest in the FUND in proportion to their unit holdings. The TRUSTEE/MANAGER has the sole discretion to accept participation and expressly reserves its right to reject or refuse any participation, investment or contribution in the FUND by any person or entity for any reason whatsoever.

Manner of Participation. Every transaction of a TRUSTOR/s TRUSTOR shall be made through the purchase of units arrived at by dividing the transaction amount by the applicable Net Asset Value per unit (the “NAVPU”)unit. New contributions to the FUND FUND/s shall serve to increase the FUND’s /s’ total outstanding units. Conversely, any redemption out of the FUND FUND/s serves to decrease the FUND’s /s’ total outstanding units. TRUSTOR/s shall have only an undivided interest in the FUND FUND/s in proportion to their unit holdings. Units are non- assignable. The TRUSTEE/MANAGER has the sole discretion to accept a participation and expressly reserves its right to reject or refuse any participation, investment or contribution in the FUND Fund by any person or entity for any reason whatsoever.

Manner of Participation. Every transaction of a TRUSTOR/s shall be made through the purchase of units arrived at by dividing the transaction amount by the applicable Net Asset Value per unit (the “NAVPUNAVpu”). New contributions to the FUND shall serve to increase the FUND’s total outstanding units. Conversely, any redemption out of the FUND serves to decrease the FUND’s total outstanding units. TRUSTOR/s shall have only an undivided interest in the FUND in proportion to their unit holdings. The TRUSTEE/MANAGER has the sole discretion to accept participation and expressly reserves its right to reject or refuse any participation, investment or contribution in the FUND by any person or entity for any reason whatsoever.