Common use of No Purchasing Fund or Purchasing Clause in Contracts

No Purchasing Fund or Purchasing. Fund Affiliate will cause a Trust to purchase a security from any Affiliated Underwriting. Nothing in this Agreement, however, shall limit the authority of the Trustee to accept and satisfy in-kind creation orders and redemption requests from a Purchasing Fund or an Underwriting Affiliate that is also an authorized participant in the ordinary course of business. For purposes of this Agreement, the term “Affiliated Underwriting” means an offering of securities during the existence of an underwriting or selling syndicate of which a principal underwriter is an Underwriting Affiliate. For purposes of this Agreement, the term “Underwriting Affiliate” means a principal underwriter in any underwriting or selling syndicate that is an officer, director, member of an advisory board, investment adviser, subadviser, employee or sponsor of the Purchasing Fund, or a person of which any such officer, director, member of an advisory board, investment adviser, subadviser, employee or sponsor is an affiliated person.

No Purchasing Fund or Purchasing. Fund Affiliate will cause a the Trust to purchase a security from any Affiliated Underwriting. Nothing in this Agreement, however, shall limit the authority of the Trustee to accept and satisfy in-kind creation orders and redemption requests from a Purchasing Fund or an Underwriting Affiliate that is also an authorized participant Authorized Participant in the ordinary course of business. For purposes of this Agreement, the term “"Affiliated Underwriting” " means an offering of securities during the existence of an underwriting or selling syndicate of which a principal underwriter is an Underwriting Affiliate. For purposes of this Agreement, the term “"Underwriting Affiliate” " means a principal underwriter in any underwriting or selling syndicate that is an officer, director, member of an advisory board, investment adviser, subadviser, employee or sponsor of the Purchasing Fund, or a person of which any such officer, director, member of an advisory board, investment adviser, subadviser, employee or sponsor is an affiliated person.

No Purchasing Fund or Purchasing. Fund Affiliate will cause a Trust to purchase a security from any Affiliated Underwriting. Nothing in this Agreement, however, shall limit the authority of the Trustee to accept and satisfy in-kind creation orders and redemption requests from a Purchasing Fund or an Underwriting Affiliate that is also an authorized participant in the ordinary course of business. For purposes of this Agreement, the term “"Affiliated Underwriting” " means an offering of securities during the existence of an underwriting or selling syndicate of which a principal underwriter is an Underwriting Affiliate. For purposes of this Agreement, the term “"Underwriting Affiliate” " means a principal underwriter in any underwriting or selling syndicate that is an officer, director, member of an advisory board, investment adviser, subadvisersub-adviser, employee or sponsor of the Purchasing Fund, or a person of which any such officer, director, member of an advisory board, investment adviser, subadvisersub-adviser, employee or sponsor is an affiliated person.