Common use of Redemption of Shares and Withdrawal of Trust Property Clause in Contracts

Redemption of Shares and Withdrawal of Trust Property. (a) Authorized Participants wishing to redeem one or more Baskets must place an order with the Administrative Trustee (or its appointed delegee, including the Processing Agent) on a Business Day (a "Redemption Order"). Unless and until the Exchange receives the necessary regulatory approvals to permit the Trust to create and redeem Shares in-kind, all Redemption Orders will take place in exchange for cash. Upon receipt by the Administrative Trustee (or its appointed delegee, including the Processing Agent) of a Redemption Order, the Surrender by an Authorized Participant of any integral number of Baskets for the purpose of withdrawal of the amount of Trust Property represented thereby, the reimbursement to the Trust of any extraordinary costs or expenses incurred in connection with the execution of trades related to such Redemption Order, and payment of the fees and expenses of the Trust, the Administrative Trustee and the Processing Agent relating to such Redemption Order as provided in Section 5.12(a) and payment of all taxes and charges payable in connection with such Surrender and withdrawal of Trust Property, and subject to the terms and conditions of this Agreement, including this Section 2.9, such Baskets shall be redeemed by the Trust, and such Authorized Participant, as, or acting on authority of, the Registered Owner of those Shares will be entitled to Delivery, in accordance with the provisions of this Agreement, as supplemented by any procedures attached to an applicable Authorized Participant Agreement, to the extent those procedures are consistent with this Agreement, of the Basket Ether Amounts or Basket Amounts corresponding to such Baskets (determined in accordance with Section 2.6(c)) on the applicable Order Date (determined as provided below).

Redemption of Shares and Withdrawal of Trust Property. (a) Authorized Participants wishing to redeem one or more Baskets must place an order with the Administrative Trustee (or its appointed delegee, including the Processing Agent) on a Business Day (a "Redemption Order"). Unless and until the Exchange receives the necessary regulatory approvals to permit the Trust to create and redeem Shares in-kind, all Redemption Orders will take place in exchange for cash. Upon receipt by the Administrative Trustee (or its appointed delegee, including the Processing Agent) of a Redemption Order, the Surrender by an Authorized Participant of any integral number of Baskets for the purpose of withdrawal of the amount of Trust Property represented thereby, the reimbursement to the Trust of any extraordinary costs or expenses incurred in connection with the execution of trades related to such Redemption Order, and payment of the fees and expenses of the Trust, the Administrative Trustee and the Processing Agent relating to such Redemption Order as provided in Section 5.12(a) and payment of all taxes and charges payable in connection with such Surrender and withdrawal of Trust Property, and subject to the terms and conditions of this Agreement, including this Section 2.9, such Baskets shall be redeemed by the Trust, and such Authorized Participant, as, or acting on authority of, the Registered Owner of those Shares will be entitled to Delivery, in accordance with the provisions of this Agreement, as supplemented by any procedures attached to an applicable Authorized Participant Agreement, to the extent those procedures are consistent with this Agreement, of the Basket Ether Bitcoin Amounts or Basket Amounts corresponding to such Baskets (determined in accordance with Section 2.6(c)) on the applicable Order Date (determined as provided below).

Redemption of Shares and Withdrawal of Trust Property. (a) Authorized Participants wishing to redeem one or more Baskets Creation Units must place an order with the Administrative Trustee (or its appointed delegee, including the Processing Agent) Transfer Agent on a Business Day (a "“Redemption Order"”). Unless Orders received by the Transfer Agent after the Cut-Off Time on a Business Day will not be accepted and until should be resubmitted on the Exchange receives the necessary regulatory approvals to permit the Trust to create and redeem Shares in-kind, all Redemption Orders will take place in exchange for cashnext following Business Day. Upon the Transfer Agent’s receipt by the Administrative Trustee (or its appointed delegee, including the Processing Agent) of a Redemption Order, the Surrender by an Authorized Participant of any integral number of Baskets Creation Units for the purpose of withdrawal of the amount of Trust Property represented thereby, thereby and the Authorized Participant’s payment of the Transaction Fee (including reimbursement to the Trust of any extraordinary applicable costs or expenses incurred in connection with the execution of trades related to such Redemption Order, and the payment to the Sponsor or its designee(s) of the fees and expenses of the Trust, the Administrative Trustee Sponsor and the Processing Agent its designee(s) relating to such Redemption Order as provided in Section 5.12(a) and payment of all any taxes and governmental charges and fees payable in connection with such Surrender and withdrawal of Trust PropertyDelivery), and subject to the terms and conditions of this Agreement, including this Section 2.9, and any procedures attached to an applicable Authorized Participant Agreement, such Baskets Creation Units shall be redeemed by the Trust, and such Authorized Participant, as, or acting on authority of, the Registered Owner of those Shares will be entitled to Delivery, in accordance with the provisions of this Agreement, as supplemented by any procedures attached to an applicable Authorized Participant Agreement, to the extent those procedures are consistent with this Agreement, of the Basket Ether Amounts or Basket Amounts Gold Amount corresponding to such Baskets Creation Units (determined in accordance with Section 2.6(c)2.9) on the applicable Order Date (determined as provided below).

Redemption of Shares and Withdrawal of Trust Property. (a) Authorized Participants wishing to redeem one or more Baskets must place an order with the Administrative Trustee (or its appointed delegee, including the Processing Agent) on a Business Day (a "Redemption Order"). Unless and until the Exchange receives the necessary regulatory approvals to permit the Trust to create and redeem Shares in-kind, all Redemption Orders will take place in exchange for cash. Upon receipt by the Administrative Trustee (or its appointed delegee, including the Processing Agent) of a Redemption Order, the Surrender by an Authorized Participant of any integral number of Baskets for the purpose of withdrawal of the amount of Trust Property represented thereby, the reimbursement to the Trust of any extraordinary costs or expenses incurred in connection with the execution of trades related to such Redemption Order, and payment of the fees and expenses of the Trust, the Administrative Trustee and the Processing Agent relating to such Redemption Order as provided in Section 5.12(a) and payment of all taxes and charges payable in connection with such Surrender and withdrawal of Trust Property, and subject to the terms and conditions of this Agreement, including this Section 2.9, such Baskets shall be redeemed by the Trust, and such Authorized Participant, as, or acting on authority of, the Registered Owner of those Shares will be entitled to Delivery, in accordance with the provisions of this Agreement, as supplemented by any procedures attached to an applicable Authorized Participant Agreement, to the extent those procedures are consistent with this Agreement, of the Basket Ether Amounts or Basket Bitcoin Amounts corresponding to such Baskets (determined in accordance with Section 2.6(c)) on the applicable Order Date (determined as provided below).

Redemption of Shares and Withdrawal of Trust Property. (a) Authorized Participants wishing to redeem one or more Baskets must place an order with the Administrative Trustee (or its appointed delegee, including the Processing Agent) Transfer Agent on a Business Day (a "Redemption Order"). Unless and until Upon the Exchange receives the necessary regulatory approvals to permit the Trust to create and redeem Shares in-kind, all Redemption Orders will take place in exchange for cash. Upon Transfer Agent's receipt by the Administrative Trustee (or its appointed delegee, including the Processing Agent) of a Redemption Order, the Surrender by an Authorized Participant of any integral number of Baskets for the purpose of withdrawal of the amount of Trust Property represented thereby, thereby and the Authorized Participant's payment of the Transaction Fee (including reimbursement to the Trust of any applicable extraordinary costs or expenses incurred in connection with the execution of trades related to such Redemption Order, and the payment to the Sponsor or its designee(s) of the fees and expenses of the Trust, the Administrative Trustee Sponsor and the Processing Agent its designee(s) relating to such Redemption Order as provided in Section 5.12(a) and payment of all any taxes and governmental charges and fees payable in connection with such Surrender and withdrawal of Trust PropertyDelivery), and subject to the terms and conditions of this Agreement, including this Section 2.9, and any procedures attached to an applicable Authorized Participant Agreement, such Baskets shall be redeemed by the Trust, and such Authorized Participant, as, or acting on authority of, the Registered Owner of those Shares will be entitled to Delivery, in accordance with the provisions of this Agreement, as supplemented by any procedures attached to an applicable Authorized Participant Agreement, to the extent those procedures are consistent with this Agreement, of the Basket Ether Amounts or Basket Amounts corresponding to such Baskets (determined in accordance with Section 2.6(c)2.9) on the applicable Order Date (determined as provided below).