Common use of Registration of Units Clause in Contracts

Registration of Units. (a) TSCD acts solely as agent for the Trusts and TSCD shall have no obligation or responsibility with respect to Dealer's right to purchase or sell Units in any jurisdiction. (b) TSCD shall periodically furnish Dealer with information identifying the states or jurisdictions in which it is believed that all necessary notice, registration or exemptive filings for Units have been made under applicable securities laws such that offers and sales of Units may be made in such states or jurisdictions. TSCD shall have no obligation to make such notice, registration or exemptive filings with respect to Units in any state or jurisdiction. (c) Dealer agrees not to transact orders for Units in states or jurisdictions in which it has been informed that Units may not be sold or in which it and its personnel are not authorized to sell Units. (d) TSCD shall have no responsibility, under the laws regulating the sale of securities in the United States or any foreign jurisdiction, with respect to the qualification or status of Dealer or Dealer's personnel offering or selling Trust Units. TSCD shall not, in any event, be liable or responsible for the issue, form, validity, enforceability and value of such Units or for any matter in connection therewith. (e) Dealer agrees that it will make no offers or sales of Units in any foreign jurisdiction, except with the express written consent of TSCD.

Registration of Units. (a) TSCD AAM acts solely as agent for the Trusts and TSCD AAM shall have no obligation or responsibility with respect to Dealer's right to purchase or sell Units in any jurisdiction. (b) TSCD AAM shall periodically furnish Dealer with information identifying the states or jurisdictions in which it is believed that all necessary notice, registration or exemptive filings for Units have been made under applicable securities laws such that offers and sales of Units may be made in such states or jurisdictions. TSCD AAM shall have no obligation to make such notice, registration or exemptive filings with respect to Units in any state or jurisdiction. (c) Dealer agrees not to transact orders for Units in states or jurisdictions in which it has been informed that Units may not be sold or in which it and its personnel are not authorized to sell Units. (d) TSCD AAM shall have no responsibility, under the laws regulating the sale of securities in the United States or any foreign jurisdiction, with respect to the qualification or status of Dealer or Dealer's personnel offering or selling Trust Units. TSCD AAM shall not, in any event, be liable or responsible -6- for the issue, form, validity, enforceability and value of such Units or for any matter in connection therewith. (e) Dealer agrees that it will make no offers or sales of Units in any foreign jurisdiction, except with the express written consent of TSCDAAM.