Common use of MARKETING MATERIALS AND REPRESENTATIONS Clause in Contracts

MARKETING MATERIALS AND REPRESENTATIONS. The Participant shall not make any representations concerning Fund Shares, the Trust, or the Funds (other than those contained in or consistent with the Funds’ then current Prospectuses or in any promotional materials or sales literature furnished to the Participant by the Distributor). The Participant shall not furnish (or cause to be furnished) to any person (nor shall it display or publish) any information or materials relating to Fund Shares (including, without limitation, promotional materials and sales literature, advertisements, press releases, announcements, statements, posters, signs, or other similar materials), except such information and materials as may be furnished to the Participant by the Distributor and such other information and materials as may be approved in writing by the Distributor. The Fund shall not be advertised or marketed as an open-end investment company (i.e., as a mutual fund), and all advertising materials will prominently disclose that the Fund Shares are not individually redeemable. In addition, any advertising material that addresses redemption of Fund Shares will disclose that Fund Shares may be tendered for redemption to the issuing Fund only in Creation Units. Notwithstanding the foregoing, the Participant may (in the regular course of its business and without the written approval of the Distributor) prepare and circulate research reports that include information, opinions, or recommendations relating to Fund Shares (i) for public dissemination, provided that such research reports comply with Applicable Law and (ii) for internal use by the Participant.

MARKETING MATERIALS AND REPRESENTATIONS. The Participant shall not make any representations concerning Fund Shares, the Trust, or the Funds (other than those contained in or consistent with the Funds’ then current Prospectuses or in any promotional materials or sales literature furnished to the Participant by the Distributor). The Participant shall not furnish (or cause to be furnished) to any person (nor shall it display or publish) any information or materials relating to Fund Shares (including, without limitation, promotional materials and sales literature, advertisements, press releases, announcements, statements, posters, signs, or other similar materials), except such information and materials as may be furnished to the Participant by the Distributor and such other information and materials as may be approved in writing by the Distributor. The Fund shall not be advertised or marketed as an open-end investment company (i.e., as a mutual fund), and all advertising materials will prominently disclose that the Fund Shares are not individually redeemable. In addition, any advertising material that addresses redemption of Fund Shares will disclose that Fund Shares may be tendered for redemption to the issuing Fund only in Creation Units. Notwithstanding the foregoing, the Participant may (in the regular course of its business and without the written approval of the Distributor) prepare and circulate research reports that include information, opinions, or recommendations relating to Fund Shares (i) for public dissemination, provided that such research reports comply compare the relative merits and benefits of Fund Shares with Applicable Law other products and are not used for purposes of marketing Fund Shares and (ii) for internal use by the Participant.

MARKETING MATERIALS AND REPRESENTATIONS. The Participant shall not make any representations concerning Fund Shares, the Trust, or the Funds (other than those contained in or consistent with the Funds’ then current Prospectuses Prospectus or in any promotional materials or sales literature furnished to the Participant by the Distributor). The Participant shall not furnish (or cause to be furnished) to any person (nor shall it display or publish) any information or materials relating to Fund Shares (including, without limitation, promotional materials and sales literature, advertisements, press releases, announcements, statements, posters, signs, or other similar materials), except such information and materials as may be furnished to the Participant by the Distributor and such other information and materials as may be approved in writing by the Distributor. The Fund shall not be advertised or marketed as an open-end investment company (i.e., as a mutual fund), and all advertising materials will prominently disclose that the Fund Shares are not individually redeemable. In addition, any advertising material that addresses redemption of Fund Shares will disclose that Fund Shares may be tendered for redemption to the issuing Fund only in Creation Units. Notwithstanding the foregoing, the Participant may (in the regular course of its business and without the written approval of the Distributor) prepare and circulate research reports that include information, opinions, or recommendations relating to Fund Shares (i) for public dissemination, provided that such research reports comply with Applicable Law and (ii) for internal use by the Participant.

MARKETING MATERIALS AND REPRESENTATIONS. The Participant shall represents, warrants and agrees that it will not make any representations concerning Fund Shares, the Trust, or the Funds (WEBS other than those contained in or consistent with the Funds’ Fund's then current Prospectuses Prospectus or in any promotional materials or sales literature furnished to the Participant by the Distributor). The Participant shall agrees not to furnish (or cause to be furnished) furnished to any person (nor shall it or display or publish) publish any information or materials relating to Fund Shares WEBS (including, without limitation, promotional materials and sales literature, advertisements, press releases, announcements, statements, posters, signs, signs or other similar materials), except such information and materials as may be furnished to the Participant by the Distributor Distributor, and such other information and materials as may be approved in writing by the Distributor. The Participant understands that the Fund shall will not be advertised or marketed as an open-end investment company (company, i.e., as a mutual fund), which offers redeemable securities, and all that any advertising materials will prominently disclose that the Fund Shares WEBS are not individually redeemableredeemable units of beneficial interest in the Fund. In addition, the Participant understands that any advertising material that addresses redemption redemptions of Fund Shares WEBS, including the Fund's Prospectus, will disclose that Fund Shares the owners of WEBS may be tendered acquire WEBS and tender WEBS for redemption to the issuing Fund only in Creation UnitsUnit aggregations only. Notwithstanding Not withstanding the foregoing, the Participant may (without the written approval of the Distributor prepare and circulate in the regular course of its business and without the written approval of the Distributor) prepare and circulate research reports that include information, opinions, opinions or recommendations relating to Fund Shares WEBS (i) for public dissemination, provided that such research reports comply with Applicable Law are not used for purposes of marketing WEBS and (ii) for internal use by the Participant.