Common use of Provisions in Conflict with Law or Regulations Clause in Contracts

Provisions in Conflict with Law or Regulations. (a) The provisions of this Trust Agreement are severable, and if the Sponsor determines, with the advice of counsel, that any of such provisions are in conflict with any other applicable laws and regulations, the conflicting provision(s) shall be deemed never to have constituted a part of the Trust Agreement; provided, however, that such determination shall not affect any of the remaining provisions of the Trust Agreement or render invalid any action taken or omitted prior to such determination. (b) If any provision of the Trust Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the Trust Agreement in any jurisdiction.

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration of Trust Agreement are severable, and if the Sponsor determinesshall determine, with the advice of counsel, that any of such provisions are is in conflict with any the Code, the Delaware Act or with other applicable laws and regulations, the conflicting provision(s) provision shall be deemed never to have constituted a part of the Trust Agreementthis Declaration of Trust; provided, however, that such determination shall not affect any of the remaining provisions of the this Declaration of Trust Agreement or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of the this Declaration of Trust Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the this Declaration of Trust Agreement in any jurisdiction.

Provisions in Conflict with Law or Regulations. (a) The provisions of this Trust Agreement are severable, and if the Sponsor determinesBoard shall determine, with the advice of counsel, that any of such provisions are is in conflict with any other applicable laws and regulations, including, without limitation, the Act, the Law or the Xxxxx X. Xxxxx Act, the conflicting provision(s) provisions shall be deemed never superseded by such laws or regulations to have constituted a part of the Trust Agreementextent necessary to eliminate such conflict; provided, however, that such determination shall not affect or render invalid any of the remaining provisions of the Trust Agreement or render invalid any action taken or omitted prior to such determination. (b) this Agreement. If any provision of the Trust this Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach pertain only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the Trust this Agreement in any jurisdiction.

Provisions in Conflict with Law or Regulations. (a) The provisions of this Trust Agreement are severable, and if the Sponsor determinesshall determine, with the advice of counsel, that any of such provisions are is in conflict with any the Code, the Delaware Act or with other applicable laws and regulations, the conflicting provision(s) provision shall be deemed never to have constituted a part of the this Trust Agreement; provided, however, that such determination shall not affect any of the remaining provisions of the this Trust Agreement or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of the this Trust Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the this Trust Agreement in any jurisdiction.

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration of Trust Agreement are severable, and if the Sponsor determinesTrustees shall determine, with the advice of counsel, that any of such provisions are is in conflict with any the 1940 Act, or with other applicable laws and regulations, the conflicting provision(s) provision shall be deemed never to have constituted a part of the Trust Agreementthis Declaration of Trust; provided, however, that such determination shall not affect any of the remaining provisions of the this Declaration of Trust Agreement or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of the this Declaration of Trust Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the this Declaration of Trust Agreement in any jurisdiction.

Provisions in Conflict with Law or Regulations. (a) The provisions of this Trust Agreement are severable, and if the Sponsor determines, with the advice of counsel, that any of such provisions are in conflict with any other applicable laws and regulations, the conflicting provision(s) shall be deemed never to have constituted a part of the Trust Agreement; provided, however, that such determination shall not affect any of the remaining provisions of the Trust Agreement or render invalid any action taken or omitted prior to such determination. (b) If any provision of the this Trust Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the Trust Agreement in any jurisdiction.

Provisions in Conflict with Law or Regulations. (a) The provisions of this Trust Agreement are severable, and if the Sponsor determinesTrustees shall determine, with the advice of counsel, that any of such provisions are is in conflict with any the 1940 Act, the DLLCA, or with other applicable laws and regulations, the conflicting provision(s) provisions shall be deemed never to have constituted a part of the Trust this Agreement; provided, however, that such determination shall not affect any of the remaining provisions of the Trust this Agreement or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of the Trust this Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the Trust this Agreement in any jurisdiction.

Provisions in Conflict with Law or Regulations. (a) The provisions of this Declaration of Trust Agreement are severable, and if the Sponsor determinesTrustees shall determine, with the advice of counsel, that any of such provisions are is in conflict with any the Code, the Delaware Act or with other applicable laws and regulations, the conflicting provision(s) provision shall be deemed never to have constituted a part of the Trust Agreementthis Declaration of Trust; provided, however, that such determination shall not affect any of the remaining provisions of the this Declaration of Trust Agreement or render invalid or improper any action taken or omitted prior to such determination. (b) If any provision of the this Declaration of Trust Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the this Declaration of Trust Agreement in any jurisdiction.

Provisions in Conflict with Law or Regulations. (a) The provisions of this Trust Agreement are severable, and if the Sponsor Managing Owner determines, with the advice of counsel, that any of such provisions are in conflict with any other applicable laws and regulations, the conflicting provision(s) shall be deemed never to have constituted a part of the Trust Agreement; provided, however, that such determination shall not affect any of the remaining provisions of the Trust Agreement or render invalid any action taken or omitted prior to such determination. (b) If any provision of the Trust Agreement shall be held invalid or unenforceable in any jurisdiction, such invalidity or unenforceability shall attach only to such provision in such jurisdiction and shall not in any manner affect such provision in any other jurisdiction or any other provision of the Trust Agreement in any jurisdiction.