Common use of Publicly Traded Securities Clause in Contracts

Publicly Traded Securities. If publicly-traded securities are to be included in the Depositor’s Custodial Account, orders shall be executed through a securities broker/dealer registered under the Securities Exchange Act of 1934 and designated by the Depositor upon such form as the Custodian may require. Any brokerage account maintained in connection herewith shall be in the Custodian’s name as the custodian of the Depositor’s account. The Custodian shall be authorized to honor transactions within the brokerage account without obligation to verify prior authorization of same by the Depositor. Any cash received by the brokerage account, whether as income or proceeds of transactions, may be held by the brokerage account pending directions, and the Custodian shall have no obligation to direct the broker to remit such cash until directed to do so by the Depositor, in writing, but may receive remittances without direction if the same are made by the broker. Investments outside the brokerage account shall be made in accordance with the other provisions of this Agreement. Any brokerage commissions attributable to the assets in the Depositor’s Account will be charged to the Depositor’s Account through the Depositor’s brokerage account. The Depositor cannot reimburse the Custodial Account for such commissions. Commissions or other fees may be received by the Custodian and/or the Custodian’s affiliates from third parties for assistance in performing certain services for the Depositor’s Account.