Common use of Ordinary Fees and Expenses Clause in Contracts

Ordinary Fees and Expenses. Sponsor shall be responsible for the payment of the ordinary fees and expenses of the Fund, including but not limited to the following: fees charged by the Fund’s administrator and transfer agent, marketing agent, custodians, trustee, exchange listing fees, typical maintenance and transaction fees of The Depository Trust Company, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses, and ordinary legal fees and expenses not in excess of $500,000 per annum. Sponsor shall not be required to pay any extraordinary or non-routine expenses. Extraordinary expenses are fees and expenses which are unexpected or unusual in nature, such as legal claims and liabilities and litigation costs or indemnification or other unanticipated expenses. Extraordinary fees and expenses also include material expenses which are not currently anticipated obligations of the Fund. Routine operational, administrative and other ordinary expenses are not deemed extraordinary expenses. Notwithstanding any other provision to the contrary, the Fund’s organizational and initial offering costs shall be borne by the Sponsor and, as such, are the sole responsibility of the Sponsor. The Sponsor hereby agrees not to seek reimbursement from or otherwise require the Fund, the Trust, or any other party to assume any liability, duty or obligation in connection with any such organizational and initial offering costs.

Ordinary Fees and Expenses. Sponsor shall be responsible for the payment of the ordinary fees and expenses of the Fund, including but not limited to the following: fees charged by the Fund’s administrator and transfer agentadministrator, marketing agent, custodianscustodian, trustee, exchange NYSE Arca listing fees, typical maintenance and transaction fees of The Depository Trust Company, SEC registration fees, printing and mailing costs, tax reporting fees, audit fees, license fees and expenses, and ordinary legal fees and expenses not in excess of $500,000 [__________] per annumannum and expenses and applicable license fees. Sponsor shall not be required to pay any extraordinary or non-routine expensesexpenses not incurred in the ordinary course of the Fund’s business. Extraordinary expenses are fees and expenses which are unexpected or unusual in nature, such as legal claims and liabilities and litigation costs or indemnification or other unanticipated expenses. Extraordinary fees and expenses also include material expenses which are not currently anticipated obligations of the Fund. Routine operational, administrative and other ordinary expenses are not deemed extraordinary expenses. Notwithstanding any other provision to the contrary, the Fund’s organizational and initial offering costs shall be borne by the Sponsor and, as such, are the sole responsibility of the Sponsor. The Sponsor hereby agrees not to seek reimbursement from or otherwise require the Fund, the Trust, or any other party to assume any liability, duty or obligation in connection with any such organizational and initial offering costs.