Common use of Potential Distributor Status Clause in Contracts

Potential Distributor Status. The Participant understands and acknowledges that the method by which Shares will be created and traded may raise certain issues under applicable securities laws, rules and regulations. For example, because new Creation Units may be issued and sold by the Trust on an ongoing basis, at any point a “distribution,” as such term is used in the 1933 Act, may occur. Accordingly, the Participant acknowledges that some activities on its part, depending on the circumstances, may result in it being deemed to be a participant in a distribution in a manner and a statutory underwriter, subject it to the Prospectus delivery and liability provisions of the 1933 Act. The Participant further acknowledges that it may be a “dealer,” as such term is used in the 1934 Act, that is not an underwriter but is effecting transactions in Shares, whether or not participating in the distribution of Shares, and generally required to deliver a Prospectus.

Potential Distributor Status. The Participant understands and acknowledges that the method by which Shares will be created and traded may raise certain issues under applicable securities laws, rules and regulations. For example, because new Creation Units may be issued and sold by the Trust on an ongoing basis, at any point a “distribution,” ”, as such term is used in the 1933 Act, may occur. Accordingly, The Distributor and the Trust hereby caution Participant acknowledges that some activities on its part, depending on the circumstances, may result in it its being deemed to be a participant in a distribution in a manner and which could render it a statutory underwriter, underwriter and subject it to the Prospectus prospectus delivery and liability provisions of the 1933 Act. The Participant further also understands and acknowledges that it may be a dealers who are not “dealer,underwriters” as such term is used in the 1934 Act, that is not an underwriter but is are effecting transactions in Shares, whether or not participating in the distribution of Shares, and are generally required to deliver a Prospectus.

Potential Distributor Status. The Participant understands and acknowledges that the method by which Shares will be created and traded may raise certain issues under applicable securities laws, rules and regulations. For example, because new Creation Units may be issued and sold by the Trust on an ongoing basis, at any point a “distribution,” ”, as such term is used in the 1933 Act, may occurbe deemed to have occurred. Accordingly, The Distributor and the Trust hereby caution Participant acknowledges that some activities on its part, depending on the circumstances, may result in it its being deemed to be a participant in a distribution in a manner and which could render it a statutory underwriter, underwriter and subject it to the Prospectus prospectus delivery and liability provisions of the 1933 Act. The Participant further also understands and acknowledges that it may be a dealers who are not “dealer,underwriters” as such term is used in the 1934 Act, that is not an underwriter but is are effecting transactions in Shares, whether or not participating in the distribution of Shares, and are generally required to deliver a Prospectus.

Potential Distributor Status. The Participant understands and acknowledges that the method by which Shares will be created and traded may raise certain issues under applicable securities laws, rules and regulations. For example, because new Creation Units may be issued and sold by the Trust on an ongoing basis, at any point a “distribution,” as such term is used in the 1933 Act, may occur. Accordingly, the Participant acknowledges that some activities on its part, depending on the circumstances, may result in it being deemed to be a participant in a distribution in a manner and a statutory underwriter, subject it to the Prospectus delivery and liability provisions of the 1933 Act. The Participant further acknowledges that it may be a “dealer,” as such term is used in the 1934 Act, that is not an Form of Authorized Participant Agreement underwriter but is effecting transactions in Shares, whether or not participating in the distribution of Shares, and generally required to deliver a Prospectus.