Common use of NSCC Clause in Contracts

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A and A-1 hereto (the “Trust Representative”). The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation purchase or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent or its designee to transmit to NSCC on behalf of the Participant such instructions, including share Share and cash amounts as are necessary with respect to the creation purchase and redemption of Creation Units Units, consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A and A-1 hereto (the “Trust Representative”)Participant. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent or its designee on behalf of the Trust and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A A, A-1 and A-1 A-2 hereto (the “Trust Representative”). The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A of the Distributor for purchases and A-1 hereto (the “Trust Representative”)telephone representative of the Transfer Agent for redemption. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent (or the Distributor on behalf of the Trust) and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent Trust or its designee to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A of the Transfer Agent for purchases, upon approval by the Distributor, and A-1 hereto (the “Trust Representative”)redemptions. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent (or the Distributor), on behalf of the Trust and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders Orders for the creation purchase or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent or its designee to transmit to NSCC on behalf of the Participant such instructions, including share Share and cash amounts as are necessary with respect to the creation purchase and redemption of Creation Units Units, consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A and A-1 hereto (the “Trust Representative”)Participant. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent or its designee on behalf of the Trust and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A of the Transfer Agent for purchases and A-1 hereto (the “Trust Representative”)telephone representative of the Transfer Agent for redemption. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent (or the Distributor on behalf of the Trust) and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation purchase or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent or its designee to transmit to NSCC on behalf of the Participant such instructions, including share Share and cash amounts as are necessary with respect to the creation purchase and redemption of Creation Units Units, consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A and A-1 hereto (the “Trust Representative”)Participant. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent or its designee on behalf of each Trust and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation purchase or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent or its designee to transmit to NSCC on behalf of the Participant such instructions, including share Share and cash amounts as are necessary with respect to the creation purchase and redemption of Creation Units Units, consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A and A-1 hereto (the “Trust Representative”)Participant. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent or its designee on behalf of the Trusts and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A of the Transfer Agent for purchases, upon approval by the Distributor, and A-1 hereto (the “Trust Representative”)telephone representative of the Transfer Agent for redemption. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent (or the Distributor on behalf of the Trust) and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s 's Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent Bank to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments Attachment A and A-1 hereto (the “"Trust Representative”"). The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent Bank and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s CNS Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent Trustee to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments Attachment A and A-1 hereto (the “Trust Telephone Representative”). The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent Trustee and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s CNS Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent Trustee to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A and A-1 Annex I hereto (the “Trust Telephone Representative”). The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent Trustee and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent to transmit to NSCC on behalf of the Participant such instructions, including share and cash amounts as are necessary with respect to the creation and redemption of Creation Units consistent with the 2 instructions issued by the Participant to the Trust telephone representative identified in Attachments A and A-1 hereto (of the “Trust Representative”)Distributor. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent (or the Distributor on behalf of the Trust) and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.

NSCC. Solely with respect to orders for the creation or redemption of Creation Units Orders through the Trust’s Clearing Process, the Participant as a Participating Party hereby authorizes the Transfer Agent or its designee to transmit to NSCC on behalf of the Participant such instructions, including share Share and cash amounts amounts, as are necessary with respect to the creation purchase and redemption of Creation Units Units, consistent with the instructions issued by the Participant to the Trust telephone representative identified in Attachments A and A-1 hereto (the “Trust Representative”)Participant. The Participant agrees to be bound by the terms of such instructions issued by the Transfer Agent (or its designee on behalf of the Participant) and reported to NSCC as though such instructions were issued by the Participant directly to NSCC.