Common use of Preauthorized Repetitive Payment Orders Clause in Contracts

Preauthorized Repetitive Payment Orders. The Trust and the Sponsor may establish with the Custodian a process to preauthorize certain repetitive payments or transfers. The Trust and the Sponsor will execute all documentation required by the Custodian, including a separate Preauthorized Repetitive Payment Order (PPO) form. The PPO shall be delivered to the Custodian in writing or by another Custodian Designated Security Procedure or Fund Designated Security Procedure, and will become effective after the Custodian shall have had a reasonable opportunity to act thereon (or if later, two (2) banking days after receipt by the Custodian). The PPO may take the form of either: (i) A standing instruction in which the Trust and the Sponsor provides in the PPO all required information for a FT Instruction (except for the transfer date and amount) on a “standing instructions” basis. The Trust and the Sponsor may from time-to-time instruct the Custodian to make a payment under the PPO, in writing or another Custodian Designated Security Procedure or Fund Designated Security Procedure, which instruction shall reference the repetitive line number (a number assigned to it by the Custodian after execution of the PPO), details of the payment, the transfer date and the amount of the transfer; or (ii) A recurring instruction in which the Trust and the Sponsor supplies all required information for a FT Instruction with an instruction to process such payments with a specific frequency.

Preauthorized Repetitive Payment Orders. The Trust and the Sponsor Fund or Company may establish with the Custodian a process to preauthorize certain repetitive payments or transfers. The Trust and the Sponsor Fund or Company will execute all documentation required by the Custodian, including a separate Preauthorized Repetitive Payment Order (PPO) form. The PPO shall be delivered to the Custodian in writing or by another Custodian Designated Security Procedure or Fund or Company Designated Security Procedure, and will become effective after the Custodian shall have had a reasonable opportunity to act thereon (or if later, two (2) banking days after receipt by the Custodian). The PPO may take the form of either: (i) i. A standing instruction in which the Trust and the Sponsor Fund or Company provides in the PPO all required information for a FT Instruction (except for the transfer date and amount) on a “standing instructions” basis. The Trust and the Sponsor Fund or Company may from time-to-time instruct the Custodian to make a payment under the PPO, in writing or another Custodian Designated Security Procedure or Fund or Company Designated Security Procedure, which instruction shall reference the repetitive line number (a number assigned to it by the Custodian after execution of the PPO), details of the payment, the transfer date and the amount of the transfer; or (ii) . A recurring instruction in which the Trust and the Sponsor Fund or Company supplies all required information for a FT Instruction with an instruction to process such payments with a specific frequency.

Preauthorized Repetitive Payment Orders. The Trust Fund and the Sponsor General Partner may establish with the Custodian a process to preauthorize certain repetitive payments or transfers. The Trust Fund and the Sponsor General Partner will execute all documentation required by the Custodian, including a separate Preauthorized Repetitive Payment Order (PPO) form. The PPO shall be delivered to the Custodian in writing or by another Custodian Designated Security Procedure or Fund Designated Security Procedure, and will become effective after the Custodian shall have had a reasonable opportunity to act thereon (or if later, two (2) banking days after receipt by the Custodian). The PPO may take the form of either: (i) A standing instruction in which the Trust Fund and the Sponsor General Partner provides in the PPO all required information for a FT Instruction (except for the transfer date and amount) on a “standing instructions” basis. The Trust Fund and the Sponsor General Partner may from time-to-time instruct the Custodian to make a payment under the PPO, in writing or another Custodian Designated Security Procedure or Fund Designated Security Procedure, which instruction shall reference the repetitive line number (a number assigned to it by the Custodian after execution of the PPO), details of the payment, the transfer date and the amount of the transfer; or (ii) A recurring instruction in which the Trust Fund and the Sponsor General Partner supplies all required information for a FT Instruction with an instruction to process such payments with a specific frequency.

Preauthorized Repetitive Payment Orders. The Trust and the Sponsor may establish with the Custodian a process to preauthorize certain repetitive payments or transfers. The Trust and the Sponsor will execute all documentation required by the Custodian, including a separate Preauthorized Repetitive Payment Order (PPO) form. The PPO shall be delivered to the Custodian in writing or by another Custodian Designated Security Procedure or Fund Designated Security Procedure, and will become effective after the Custodian shall have had a reasonable opportunity to act thereon (or if later, two (2) banking days after receipt by the Custodian). The PPO may take the form of either: (i) A standing instruction in which the Trust and and/or the Sponsor provides in the PPO all required information for a FT Instruction (except for the transfer date and amount) on a “standing instructions” basis. The Trust and and/or the Sponsor may from time-to-time instruct the Custodian to make a payment under the PPO, in writing or another Custodian Designated Security Procedure or Fund Designated Security Procedure, which instruction shall reference the repetitive line number (a number assigned to it by the Custodian after execution of the PPO), details of the payment, the transfer date and the amount of the transfer; or (ii) A recurring instruction in which the Trust and and/or the Sponsor supplies all required information for a FT Instruction with an instruction to process such payments with a specific frequency.