Common use of Obligations of the Manager Clause in Contracts

Obligations of the Manager. In addition to the obligations expressly provided by the Delaware Trust Statute or this Trust Agreement, the Manager shall: (a) Devote such of its time to the Trust’s business and affairs as it shall, in its discretion exercised in good faith, determine to be necessary to conduct the Trust’s business and affairs for the benefit of the Trust and the Shareholders; (b) Execute, file, record and/or publish all certificates, statements and other documents and do any and all other things as may be appropriate for the Trust’s formation, qualification and operation and for the conduct of its business in all appropriate jurisdictions; (c) Employ attorneys to represent the Trust; (d) Use commercially reasonable efforts to maintain the Trust’s status as a “statutory trust” for state law purposes, and as a “partnership” for U.S. federal income tax purposes; (e) Have responsibility for the safekeeping and use of the Trust Estate, whether or not in the Manager’s immediate possession or control; (f) Discharge the duties and responsibilities of the Trust and the Manager; (g) Interact with the Depository and with the Trust’s administrator, transfer agent, custodian and other agents as required; (h) Prepare and file all disclosure documents, accounts and reports necessary to ensure the Trust’s compliance with regulatory requirements under the Exchange Act and the CEA; and (i) Delegate those of its duties hereunder as it shall determine from time to time to one or more administrators, investment advisers or commodity trading advisors.

Obligations of the Manager. In addition to the obligations expressly provided by the Delaware Trust Statute or this Trust Agreement, the Manager shall: (a) Devote such of its time to the Trust’s business and affairs as it shall, in its discretion exercised in good faith, determine to be necessary to conduct the Trust’s business and affairs for the benefit of the Trust and the Shareholders; (b) Execute, file, record and/or publish all certificates, statements and other documents and do any and all other things as may be appropriate for the Trust’s formation, qualification and operation and for the conduct of its business in all appropriate jurisdictions; (c) Employ attorneys to represent the Trust; (d) Use commercially reasonable efforts to maintain the Trust’s status as a “statutory trust” for state law purposes, and as a “partnership” for U.S. federal income tax purposes; (e) Have fiduciary responsibility for the safekeeping and use of the Trust Estate, whether or not in the Manager’s immediate possession or control; (f) Discharge the duties and responsibilities of the Trust and the Manager; (g) Interact with the Depository and with the Trust’s administrator, transfer agent, custodian and other agents as required; (h) Prepare and file all disclosure documents, accounts and reports necessary to ensure the Trust’s compliance with regulatory requirements under the Exchange Act and the CEA; and (i) Delegate those of its duties hereunder as it shall determine from time to time to one or more administrators, investment advisers or commodity trading advisors.