Common use of Offering of Units Clause in Contracts

Offering of Units. (a) Pursuant to the Trust Agreement, the Company shall have the right to deposit or cause to be deposited funds, securities, derivative transactions or other property into a Series of Trust and receive in return Units needed to fill unconditional orders for Units placed with the Company by selected dealers or selected agents (each as defined in Section 9 hereof) acting as agent for their own customers’ or on their own behalf (such dealers and agents, the “Selling Brokers”). Units so received by the Company are to be sold by the Company to Selling Brokers in accordance with the terms of individual dealer agreements as described in Section 9 of this Agreement. (b) The Company agrees to offer the Units for sale in accordance with the terms of the Trust Agreement and the Registration Statement and Prospectus then in effect for the relevant Series of Trust. (c) The Company acknowledges that the Units shall be held solely in uncertificated form evidenced by appropriate notation in the registration books of the Trustee, and no unitholder shall be entitled to the issuance of a certificate evidencing the Units owned by such unitholder. The only permitted registered holder of Units shall be through The Depository Trust Company (or its nominee, Cede & Co.); consequently, individuals must hold their Units through an entity that is a participant in The Depository Trust Company. Should The Depository Trust Company cease to be the registered holder of Units, the Trustee may either (i) register Units in such names as The Depository Trust Company shall direct or (ii) terminate the Series of Trust in the manner provided in accordance with the Trust Agreement. In no case shall the Trustee be liable to any person for such termination. (d) No Units shall be offered by either the Company or a Series of Trust under any of the provisions of this Agreement and no orders for the purchase or sale of Units hereunder shall be accepted by the Company if and so long as the effectiveness of the relevant Registration Statement then in effect or any necessary amendments thereto shall be suspended under any of the provisions of the Securities Act, or if and so long as a current Prospectus, as required by Section 10(b) of the Securities Act, is not on file with the SEC.

Offering of Units. (a) Pursuant to the Trust Agreement, the Company EGD shall have the right to deposit or cause to be deposited funds, securities, derivative transactions securities or other property into a Series of the Trust and receive in return Units needed to fill unconditional orders for Units placed with the Company EGD by selected dealers or selected agents (each as defined in Section 9 12 hereof) acting as agent for their own customers’ or on their own behalf (such dealers and agents, the “Selling Brokers”). Units so received by the Company EGD are to be sold by the Company EGD to Selling Brokers in accordance with the terms of individual dealer agreements as described in Section 9 8 of this Agreement. (b) The Company EGD agrees to offer the Units for sale in accordance with the terms of the Trust Agreement and the Trust’s Registration Statement and Prospectus therefore then in effect for the relevant Series of Trusteffect. (c) The Company EGD acknowledges that the Units shall be held solely in uncertificated form evidenced by appropriate notation in the registration books of the Trustee, and no unitholder shall be entitled to the issuance of a certificate evidencing the Units owned by such unitholder. The only permitted registered holder of Units shall be through The the Depository Trust Company (or its nominee, Cede & Co.); consequently, individuals must hold their Units through an entity that which is a participant in The the Depository Trust Company. Should The the Depository Trust Company cease to be the registered holder of Units, the Trustee may either (i) register Units in such names as The Depository Trust Company shall direct or (ii) terminate the Series of Trust in the manner provided in accordance with the Trust Agreement. In no case shall the Trustee be liable to any person for such termination. (d) No Units shall be offered by either EGD or the Company or a Series of Trust under any of the provisions of this Agreement and no orders for the purchase or sale of Units hereunder shall be accepted by the Company EGD if and so long as the effectiveness of the relevant Registration Statement then in effect or any necessary amendments thereto shall be suspended under any of the provisions of the Securities Act, or if and so long as a current Prospectus, as required by Section 10(b) of the Securities Act, as amended, is not on file with the SEC.