Common use of Payments and Distributions Clause in Contracts

Payments and Distributions. (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust: (i) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant to the provisions hereof; (ii) deduct from the Interest Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky fees, printing costs, attorneys' fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the Depositor, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.04, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor; (vii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse itself for any other fees, charges and expenses arising from time to time out of the Trust operations that the Trustee has paid. (39) The first sentence of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) On each Distribution Date, the Trustee shall distribute an amount per Unit equal to such Unitholder's Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date to each Unitholder of record at the close of business on the Record Date. In addition, if the balance of the Principal Account of a Trust on the fifteenth day of any month equals at least $1.00 per Unit then outstanding, such distribution from the Principal Account shall be made on the twenty-fifth day of such month computed as of the close of business on the fifteenth day of such month. (40) Notwithstanding anything to the contrary in the Standard Terms and Conditions of the Trust, Section

Payments and Distributions. (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust: (i) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant to the provisions hereof; (ii) deduct from the Interest Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky fees, printing costs, attorneys' ’ fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the Depositor, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.04, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor; (vii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse itself for any other fees, charges and expenses arising from time to time out of the Trust operations that the Trustee has paid. (39) The first sentence of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) On each Distribution Date, the Trustee shall distribute an amount per Unit equal to such Unitholder's ’s Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date to each Unitholder of record at the close of business on the Record Date. In addition, if the balance of the Principal Account of a Trust on the fifteenth day of any month equals at least $1.00 per Unit then outstanding, such distribution from the Principal Account shall be made on the twenty-fifth day of such month computed as of the close of business on the fifteenth day of such month. (40) Notwithstanding anything to the contrary in the Standard Terms and Conditions of the Trust, SectionSection 3.19 is hereby amended by adding the following paragraph: In limited circumstances and only if deemed in the best interests of the Unitholders, the Depositor is authorized to instruct the Trustee to change the dates on which the deferred sales charge is deducted as described in the Prospectus. The deferred sales charge payment dates may be delayed: (i) in order for a Trust which is a widely held fixed investment trust as defined in Treas. Reg. Section 1.671-5(b)(22) to report in accordance with any of the safe harbor methods described in Treas. Reg. Section 1.671-5(f); or (ii) in order for a Trust which is a regulated investment company as defined by the Internal Revenue Code to maintain its qualification as a regulated investment company. The Trustee shall have no liability for any tax or other liability incurred by reason of action or inaction resulting from such direction. The Depositor will amend the Prospectus to include the new dates on which the deferred sales charge will be collected and distributing such notice to Unitholders. (41) All reference to Claymore Securities, Inc. in the Standard Terms and Conditions of Trust shall be replaced with “Guggenheim Funds Distributors, LLC” (42) Notwithstanding anything to the contrary in the Standard Terms and Conditions of Trust, Section 3.19 shall be amended by adding the following sentences at the end thereof: “To the extent permitted by applicable law and regulatory authorization, unpaid portions of the deferred sales charge shall be secured by a lien on the Trust in favor of the Depositor, provided that such lien shall be subordinate to the lien of the Trustee granted by Section 6.04 of the Standard Terms and Conditions of Trust. To the extent of such lien, the Trustee shall hold the assets of the Trust for the benefit of the Depositor, provided that the Trustee is authorized to make dispositions, distributions and payments for expenses in the ordinary course of the administration of the Trust without regard to such lien.” This Reference Trust Agreement shall be deemed effective when executed and delivered by the Sponsor and the Trustee.

Payments and Distributions. (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust: (i) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant to the provisions hereof; (ii) deduct from the Interest Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky fees, printing costs, attorneys' fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the Depositor, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.04, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor; (vii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse itself for any other fees, charges and expenses arising from time to time out of the Trust operations that the Trustee has paid. (3942) The first sentence of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) On each Distribution Date, the Trustee shall distribute an amount per Unit equal to such Unitholder's Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date to each Unitholder of record at the close of business on the Record Date. In addition, if the balance of the Principal Account of a Trust on the fifteenth day of any month equals at least $1.00 per Unit then outstanding, such distribution from the Principal Account shall be made on the twenty-fifth day of such month computed as of the close of business on the fifteenth day of such month. (40) Notwithstanding anything to the contrary in the Standard Terms and Conditions of the Trust, Section

Payments and Distributions. Distributions to each Unitholder from the Income Account are computed as of the close of business on each Record Date for the following Distribution Date. Distributions from the Principal Account of the Trust (aother than amounts representing failed contracts, as discussed in Section 3.3.(b) On will be computed as of each Record Date, and will be made to the Unitholders of the Trust on or immediately shortly after the fifteenth next Distribution Date. Proceeds representing principal received from the day disposition of any of the Securities between a Record Date and a Distribution Date which are not used for redemptions of Units will be held in the Principal Account and not distributed until the second succeeding Distribution Date. If a Unitholder is participating in a Reinvestment Plan, distributions to such Unitholder shall be applied by the Trustee to purchase Units from the Depositors at the applicable reinvestment price on the Distribution Date. Persons who purchase Units between a Record Date and a Distribution Date will receive their first distribution on the second Distribution Date after such purchase. As of each month, Record Date the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trustshall: (ia) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant to the provisions hereof; (ii) deduct from the Interest Income Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky Blue Sky fees, printing costs, attorneys' fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the DepositorDepositors, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.049.4, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iiib) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor; (vii) deduct from the Interest Income Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.4, Section 3.1 or otherwise pursuant to the provisions hereof; (c) deduct from the Income Account, or, to the extent funds are not available in such Account, from the Principal Account, and pay an amount equal to the unpaid fees and expenses, if any, of counsel pursuant to Section 3.9 as certified to it by the Depositors; and (d) deduct from the Income Account, or, to the extent funds are not available in such Account, from the Principal Account the estimated amount that the Depositors are then entitled to receive pursuant to Section 7.4 and hold such amount without interest until such time as it is payable to the Depositors as set forth below. On or before the first Distribution Date after the conclusion of each calendar year, the Trustee shall, upon certification in satisfactory form to the Trustee, upon which the Trustee may rely, distribute to the Depositors from the amount so held pursuant to the immediately preceding paragraph the amounts that the Depositors are at the time entitled to receive pursuant to Section 7.4 on account of services theretofore performed and expenses theretofore incurred. The Trustee also may withdraw from said accounts such amounts, if any, as it deems necessary to establish a reserve for any applicable taxes or other fees, governmental charges and expenses arising from time to time that may be payable out of the Trust operations that Trust. Amounts so withdrawn shall not be considered a part of such Trust's assets until such time as the Trustee has paid. (39) shall return all or any part of such amounts to the appropriate accounts. In addition, the Trustee may withdraw from the Income and Principal Accounts such amounts as may be necessary to cover redemptions of Units by the Trustee. The Principal Account shall be reimbursed for any amount withdrawn from the Principal Account under this Indenture in order to satisfy obligations which, pursuant to the terms hereof, are first sentence to be paid out of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) Income Account to the extent funds are available therein, when sufficient funds are not available in the Income Account after giving effect to the payment from the Income Account of all amounts otherwise required to be deducted therefor at that time when sufficient funds are next available in the Income Account after giving effect to the payment from the Income Account of all amounts otherwise required to be deducted therefrom at that time. On each Distribution DateDate or within a reasonable period of time thereafter, the Trustee shall distribute an amount per Unit equal to such Unitholder's Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date by mail to each Unitholder of record at the close of business on the preceding Record Date. In addition, at the post office address appearing on the registration books of the Trustee (or, if a Clearing Agency is the registered Unitholder, the Trustee shall make distributions to such Clearing Agency in accordance with its applicable procedures), such holder's pro rata share of the balance in the Income Account calculated as set forth in the next paragraph, plus such holder's pro rata share of the distributable cash balance of the Principal Account, as of the preceding Record Date; provided, however, that funds credited to the Principal Account in the event of the failure of consummation of a Trust contract to purchase Securities pursuant to Section 2.1 hereof, funds representing the proceeds of the sale of Securities pursuant to Section 3.8 hereof, and funds representing the proceeds of the sale of Securities under Section 5.2, 6.4 or this Section 3.5 in excess of the aggregate of (i) the amounts needed for the purposes of said Sections and (ii) such amount as the Depositors have informed the Trustee is to be used to purchase securities pursuant to Section 3.7 hereof, shall not be distributed until the following Distribution Date or at such earlier date as shall be determined by the Trustee. The Trustee shall not be required to make a distribution from the Principal or Income Account unless the cash balance on the fifteenth day of any month equals deposit therein available for distribution shall be sufficient to distribute at least $1.00 per Unit then outstandingin the case of Units initially offered at approximately $1,000, such distribution or a proportionately lower amount in the case of Units initially offered at less than $1,000 (e.g., .001 per Unit in the case of Units initially offered at approximately $1.00). The Trustee shall compute the amount of the Distribution from the Principal Income Account shall be made on (i) by subtracting from the twenty-fifth day cash balance of such month the Income Account computed as of the close of business on such Record Date (a) any unpaid fees and expenses then deductible pursuant to the fifteenth day foregoing provisions of Section 3.5 and (b) the Trustee's estimate of other expenses chargeable to the Income Account pursuant to the Indenture which have accrued as of such month. (40) Notwithstanding anything Record Date, or are otherwise properly attributable to the contrary in period to which such Income Distribution relates and (ii) by dividing the Standard Terms result of such calculation by the number of Units outstanding on the applicable Record Date. The amounts to be so distributed to each Unitholder of the Trust of record as of each Record Date shall be that pro rata share of the cash balance as of such Record Date of the Income and Conditions Principal Accounts of the Trust, Sectioncomputed as set forth above, as shall be represented by a notation of the Units owned by such Unitholder on the registration or other record books of the Trustee. In the computation of each such share, fractions of less than one cent shall be omitted. After any such distribution provided for above, any cash balance remaining in the Income Account or the Principal Account shall be held in the same manner as other amounts subsequently deposited in each of such Accounts, respectively. For the purpose of distribution as herein provided, the holders of record on the registration books of the Trustee at the close of business on each Record Date shall be conclusively entitled to such distribution, and no liability shall attach to the Trustee by reason of payment to any such registered Unitholder of record. Nothing herein shall be construed to prevent the payment of amounts from the Income Account and the Principal Account to individual Unitholders by means of one check, draft or other proper instrument, provided that the appropriate statement of such distribution shall be furnished therein as provided in Section 3.6 hereof. The Trustee shall withhold from a Unitholder's income distribution any portion of the Deferred Sales Charge deductible therefrom pursuant to Section 3.15.

Payments and Distributions. (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust: (i) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant to the provisions hereof; (ii) deduct from the Interest Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky fees, printing costs, attorneys' fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the Depositor, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.04, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor;; and (viiiii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse itself for any other fees, charges and expenses arising from time to time out of the Trust operations that the Trustee has paid. (3934) The first sentence of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) On each Distribution Date, the Trustee shall distribute an amount per Unit equal to such Unitholder's Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date to each Unitholder of record at the close of business on the Record Date. In addition, if the balance of the Principal Account of a Trust on the fifteenth day of any month equals at least $1.00 per Unit then outstanding, such distribution from the Principal Account shall be made on the twenty-fifth day of such month computed as of the close of business on the fifteenth day of such month. (4035) All reference to Claymore Securities, Inc. in the Standard Terms and Conditions of Trust shall be replaced with "Guggenheim Funds Distributors, LLC" (36) Notwithstanding anything to the contrary in this Indenture, if so provided in the Standard Terms Prospectus for the Trust, the Depositor shall be paid an annual deferred sales fee from Unitholders in an amount calculated at the annual compensation rate stated in the Prospectus. If the Depositor receives an annual deferred sales fee, the Depositor will not receive the compensation outlined in Section 7.05; specifically, the Depositor will not receive compensation for performing portfolio supervisory services as set forth in Section 3.18, or for performing evaluation services as set forth in Section 4.03. Additionally, the Depositor will not receive any of the reimbursable costs of organizing the Trust and Conditions the sale of the Trust Units pursuant to Section 3.01, or any of the reimbursable update costs pursuant to Section 3.02. As provided below, the Depositor will bear all the organizational costs and expenses of the Trust, Sectionexcept for brokerage costs and extraordinary expenses. The annual deferred sales fee shall be charged to Unitholders on the first day after the primary offering period has concluded for the Trust (i.e., the first day of the secondary offering period) and on every anniversary of such date for the life of the Trust (the "Annual Deferred Sales Fee Payment Date"). The annual deferred sales fee shall be deducted from cash held by the Trust or the Principal Account by selling Securities, as necessary. If such annual deferred sales fee is charged to Unitholders, Unitholders will not be charged any other fees or expenses, except for brokerage costs and extraordinary expenses. Notwithstanding anything to the contrary in this Indenture, if the Prospectus for a Trust states that an annual deferred sales fee will be paid by Unitholders, the Depositor will be responsible for all fees and expenses of the Trust, except for brokerage costs and extraordinary expenses, and such responsibility includes the organizational costs of the Trust, the payments to the Trustee pursuant to Section 6.01 to the extent the costs and expenses are not extraordinary expenses, the payments to the Trustee pursuant to Section 6.04, and the expenses of the Trust that are detailed in this Indenture. The payments to the Trustee by the Depositor will be calculated on the Annual Deferred Sales Fee Payment Date at a rate agreed upon in a written agreement with the Depositor. If the Depositor resigns its position or if the Depositor is unable or unwilling to pay the Trustee as agreed upon in a written agreement, the Trustee may recover its reasonable costs and expenses from the Trust up to the amount of the annual deferred sales fee under the terms that govern the payment of the annual deferred sales fee by Unitholders at the next Annual Deferred Sales Fee Payment Date. If this annual deferred sales fee is charged to Unitholders pursuant to the Prospectus, Section 3.07(A)(4) and Section 3.07(B)(2) are hereby deleted. This Reference Trust Agreement shall be deemed effective when executed and delivered by the Sponsor and the Trustee.

Payments and Distributions. (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust: (i) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant to the provisions hereof; (ii) deduct from the Interest Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky fees, printing costs, attorneys' fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the Depositor, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.04, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor; (vii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse itself for any other fees, charges and expenses arising from time to time out of the Trust operations that the Trustee has paid. (3942) The first sentence of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) On each Distribution Date, the Trustee shall distribute an amount per Unit equal to such Unitholder's Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date to each Unitholder of record at the close of business on the Record Date. In addition, if the balance of the Principal Account of a Trust on the fifteenth day of any month equals at least $1.00 per Unit then outstanding, such distribution from the Principal Account shall be made on the twenty-fifth day of such month computed as of the close of business on the fifteenth day of such month. (4043) Notwithstanding anything to the contrary in the Standard Terms and Conditions of the Trust, Section

Payments and Distributions. (a) On or immediately after Distributions to each Unit Holder from the fifteenth the day of each month, the Trustee shall satisfy itself Income Account are computed as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to close of business on each Trust: (i) deduct from Record Date for the Interest Account or, to the extent funds are not available in such Account, following Payment Date. Distributions from the Principal Account of the Trust (other than amounts representing failed contracts, as discussed in Section 3.3.(b) will be computed as of each Record Date, and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant will be made to the provisions hereof;Unit Holders of the Trust on or shortly after the next Payment Date. Proceeds representing principal received from the disposition of any of the Securities between a Record Date and a Payment Date which are not used for redemptions of Units will be held in the Principal Account and not distributed until the second succeeding Payment Date. Persons who purchase Units between a Record Date and a Payment Date will receive their first distribution on the second Payment Date after such purchase. As of each Record Date, the Trustee shall: (iia) deduct Deduct from the Interest Income Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky Blue Sky fees, printing costs, attorneys' fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the Depositor, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.049.4, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iiib) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor; (vii) deduct from the Interest Income Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse pay to itself individually the amounts that it is at the time entitled to receive on account of its fees, unpaid expenses and advances; (c) deduct from the Income Account, or, to the extent funds are not available in such Account, from the Principal Account, and pay an amount equal to the unpaid fees and expenses, if any, of counsel pursuant to Section 3.9 as certified to it by the Depositor; and (d) deduct from the Income Account, or, to the extent funds are not available in such Account, from the Principal Account the estimated amount that the Depositor is then entitled to receive pursuant to Section 7.4 and hold such amount without interest until such time as it is payable to the Depositor as set forth below. On or before the first Payment Date after the conclusion of each calendar year, the Trustee shall, upon certification in satisfactory form to the Trustee, upon which the Trustee may rely, distribute to the Depositor from the amount so held pursuant to the immediately preceding paragraph the amounts that the Depositor is at the time entitled to receive pursuant to Section 7.4 on account of services theretofore performed and expenses theretofore incurred. The Trustee also may withdraw from said accounts such amounts, if any, as it deems necessary to establish a reserve for any applicable taxes or other fees, governmental charges and expenses arising from time to time that may be payable out of the Trust operations that Trust. Amounts so withdrawn shall not be considered a part of such Trust's assets until such time as the Trustee has paid. (39) shall return all or any part of such amounts to the appropriate accounts. In addition, the Trustee may withdraw from the Income and Principal Accounts such amounts as may be necessary to cover redemptions of Units by the Trustee. The Principal Account shall be reimbursed for any amount withdrawn from the Principal Account under this Indenture in order to satisfy obligations which, pursuant to the terms hereof, are first sentence to be paid out of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) Income Account to the extent funds are available therein, when sufficient funds are not available in the Income Account after giving effect to the payment from the Income Account of all amounts otherwise required to be deducted therefor at that time when sufficient funds are next available in the Income Account after giving effect to the payment from the Income Account of all amounts otherwise required to be deducted therefrom at that time. On each Distribution DatePayment Date or within a reasonable period of time thereafter, the Trustee shall distribute an amount per Unit equal to such Unitholder's Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date by mail to each Unitholder Unit Holder of record at the close of business on the preceding Record Date. In addition, if at the post office address appearing on the registration books of the Trustee, such holder's pro rata share of the balance in the Income Account calculated as set forth in the next paragraph, plus such holder's pro rata share of the distributable cash balance of the Principal Account, as of the preceding Record Date; provided, however, that funds credited to the Principal Account in the event of the failure of consummation of a Trust contract to purchase Securities pursuant to Section 2.1 hereof, funds representing the proceeds of the sale of Securities pursuant to Section 3.8 hereof, and funds representing the proceeds of the sale of Securities under Section 5.2, 6.4 or this Section 3.5 in excess of the aggregate of (i) the amounts needed for the purposes of said Sections and (ii) such amount as the Depositor has informed the Trustee is to be used to purchase securities pursuant to Section 3.7 hereof, shall not be distributed until the following Payment Date or at such earlier date as shall be determined by the Trustee. The Trustee shall not be required to make a distribution from the Principal Account unless the cash balance on the fifteenth day of any month equals deposit therein available for distribution shall be sufficient to distribute at least $1.00 per Unit then outstandingin the case of Units initially offered at approximately $1,000, such distribution or a proportionately lower amount in the case of Units initially offered at less than $1,000 (e.g., .001 per Unit in the case of Units initially offered at approximately $1.00). The Trustee shall compute the amount of the Distribution from the Principal Income Account shall be made on (i) by subtracting from the twenty-fifth day cash balance of such month the Income Account computed as of the close of business on such Record Date (a) any unpaid fees and expenses then deductible pursuant to the fifteenth day foregoing provisions of Section 3.5 and (b) the Trustee's estimate of other expenses chargeable to the Income Account pursuant to the Indenture which have accrued as of such month. (40) Notwithstanding anything Record Date, or are otherwise properly attributable to the contrary in period to which such Income Distribution relates and (ii) by dividing the Standard Terms result of such calculation by the number of Units outstanding on the applicable Record Date. The amounts to be distributed to each Unit Holder of the Trust of record as of each Record Date shall be that pro rata share of the cash balance of the Income and Conditions Principal Accounts of the Trust, Sectioncomputed as set forth above, as shall be represented by the Units registered in the name of such Unit Holder on the registration or other record books of the Trustee. In the computation of each such share, fractions of less than one cent shall be omitted. After any such distribution provided for above, any cash balance remaining in the Income Account or the Principal Account shall be held in the same manner as other amounts subsequently deposited in each such accounts, respectively. For the purpose of distribution, as herein provided, the holders of record on the registration books of the Trustee at the close of business on each Record Date shall be conclusively entitled to such distribution, and no liability shall attach to the Trustee by reason of payment to any such registered Unit Holder of record. Nothing herein shall be construed to prevent the payment of amounts from the Interest Account and the Principal Account to individual Unit Holders by means of one check, draft or other proper instrument, provided that the appropriate statement of such distribution shall be furnished therewith as provided in Section 3.6 hereof. The Trustee will, for any Unit Holder who provides the Trustee written instruction, properly executed and in form satisfactory to the Trustee, received by the Trustee no later than its close of business 10 business days prior to a Record Date (the "Reinvestment Notice Date"), reinvest such Unit holder's distribution from the Income and Principal Accounts in Units of the Trust, purchased from the Depositor, to the extent the Depositor shall make Units available for such purchase, at the Depositor's offering price as of the third business day prior to the following Distribution Date, and at such reduced sales charge, or with no sales charge imposed, as may be described in the prospectus for the Trusts. If, for any reason, the Depositor does not have Units of the Trust available for purchase, the Trustee shall distribute such Unit Holder's distribution from the Income and Principal Accounts in the manner provided in this Section 3.5. The Trustee shall be entitled to rely on a written instruction received as of the Reinvestment Notice Date and shall not be affected by any subsequent notice to the contrary. The Trustee shall have no responsibility for any loss or depreciation resulting from any reinvestment made in accordance with this paragraph, or for any failure to make such reinvestment in the event the Depositor does not make Units available for purchase.

Payments and Distributions. (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust: (i) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant to the provisions hereof; (ii) deduct from the Interest Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky fees, printing costs, attorneys' fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the Depositor, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.04, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor;; and (viiiii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse itself for any other fees, charges and expenses arising from time to time out of the Trust operations that the Trustee has paid. (3934) The first sentence of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) On each Distribution Date, the Trustee shall distribute an amount per Unit equal to such Unitholder's Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date to each Unitholder of record at the close of business on the Record Date. In addition, if the balance of the Principal Account of a Trust on the fifteenth day of any month equals at least $1.00 per Unit then outstanding, such distribution from the Principal Account shall be made on the twenty-fifth day of such month computed as of the close of business on the fifteenth day of such month. (4035) All reference to Claymore Securities, Inc. in the Standard Terms and Conditions of Trust shall be replaced with "Guggenheim Funds Distributors, LLC" (36) Notwithstanding anything to the contrary in this Indenture, if so provided in the Standard Terms Prospectus for the Trust, the Depositor shall be paid an annual deferred sales fee from Unitholders in an amount calculated at the annual compensation rate stated in the Prospectus. If the Depositor receives an annual deferred sales fee, the Depositor will not receive the compensation outlined in Section 7.05; specifically, the Depositor will not receive compensation for performing portfolio supervisory services as set forth in Section 3.18, or for performing evaluation services as set forth in Section 4.03. Additionally, the Depositor will not receive any of the reimbursable costs of organizing the Trust and Conditions the sale of the Trust Units pursuant to Section 3.01, or any of the reimbursable update costs pursuant to Section 3.02. As provided below, the Depositor will bear all the organizational costs and expenses of the Trust, Sectionexcept for brokerage costs and extraordinary expenses. The annual deferred sales fee shall be charged to Unitholders on the first day after the primary offering period has concluded for the Trust (i.e., the first day of the secondary offering period) and on every anniversary of such date for the life of the Trust (the "Annual Deferred Sales Fee Payment Date"). The annual deferred sales fee shall be deducted from the Reserve Account, Interest Account or Principal Account, as necessary, in the manner set out for payments in Section 3.06. If such annual deferred sales fee is charged to Unitholders, Unitholders will not be charged any other fees or expenses, except for brokerage costs and extraordinary expenses. Notwithstanding anything to the contrary in this Indenture, if the Prospectus for a Trust states that an annual deferred sales fee will be paid by Unitholders, the Depositor will be responsible for all fees and expenses of the Trust, except for brokerage costs and extraordinary expenses, and such responsibility includes the organizational costs of the Trust, the payments to the Trustee pursuant to Section 6.01 to the extent the costs and expenses are not extraordinary expenses, the payments to the Trustee pursuant to Section 6.04, and the expenses of the Trust that are detailed in this Indenture. The payments to the Trustee by the Depositor will be calculated on the Annual Deferred Sales Fee Payment Date at a rate agreed upon in a written agreement with the Depositor. If the Depositor resigns its position or if the Depositor is unable or unwilling to pay the Trustee as agreed upon in a written agreement, the Trustee may recover its reasonable costs and expenses from the Trust up to the amount of the annual deferred sales fee under the terms that govern the payment of the annual deferred sales fee by Unitholders at the next Annual Deferred Sales Fee Payment Date. If this annual deferred sales fee is charged to Unitholders pursuant to the Prospectus, Section 3.07(A)(4) and Section 3.07(B)(2) are hereby deleted. This Reference Trust Agreement shall be deemed effective when executed and delivered by the Sponsor and the Trustee.

Payments and Distributions. (a) On or immediately after the fifteenth the day of each month, the Trustee shall satisfy itself as to the adequacy of the Reserve Account, making any further credits thereto as may appear appropriate in accordance with Section 3.05 and shall then with respect to each Trust: (i) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to itself individually the amounts that it is at the time entitled to receive pursuant to Section 6.04 or otherwise pursuant to the provisions hereof; (ii) deduct from the Interest Account of the Trust, and, to the extent funds are not sufficient therein, from the Principal Account of the Trust, amounts necessary to pay any unpaid expenses of the Trust, including registration charges, state blue sky fees, printing costs, attorneys' fees, auditing costs and other miscellaneous out-of-pocket expenses, as certified by the Depositor, incurred in keeping the registration of the Units and the Trust on a current basis pursuant to Section 9.04, provided, however, that no portion of such amount shall be deducted or paid unless the payment thereof from the Trust is at that time lawful; (iii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Supervisor the amount that it is at the time entitled to receive pursuant to Section 3.18; (iv) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Evaluator the amount that it is at the time entitled to receive pursuant to Section 4.03; (v) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to, or reserve for, the Depositor the amount that it is at the time entitled to receive pursuant to Section 3.19; (vi) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account and pay to counsel, as hereinafter provided for, an amount equal to unpaid fees and expenses, if any, of such counsel pursuant to Section 3.10, as certified to by the Depositor; (vii) deduct from the Interest Account or, to the extent funds are not available in such Account, from the Principal Account, and reimburse itself for any other fees, charges and expenses arising from time to time out of the Trust operations that the Trustee has paid. (3942) The first sentence of Section 3.06(b)(i) is hereby deleted and replaced with the following: (i) On each Distribution Date, the Trustee shall distribute an amount per Unit equal to such Unitholder's Interest Distribution (as defined below) computed as of the close of business on the Record Date immediately preceding such Distribution Date to each Unitholder of record at the close of business on the Record Date. In addition, if the balance of the Principal Account of a Trust on the fifteenth day of any month equals at least $1.00 per Unit then outstanding, such distribution from the Principal Account shall be made on the twenty-fifth day of such month computed as of the close of business on the fifteenth day of such month. This Reference Trust Agreement shall be deemed effective when executed and delivered by the Sponsor and the Trustee. (40) Notwithstanding anything to the contrary in the Standard Terms and Conditions of the Trust, Section