REJECTING OR SUSPENDING CREATION ORDERS. The Managing Owner reserves the absolute right to reject acceptance of a Creation Order or Creation Basket Capital Contribution if (i) the Managing Owner or Transfer Agent has determined the Creation Order or Creation Basket Capital Contribution is not in proper form; (ii) the Managing Owner has determined the acceptance or receipt of which would have adverse tax consequences to the Trust, any Fund or to the Shareholders; (iii) the acceptance or receipt of which could, in the opinion of counsel to the Managing Owner, be unlawful; or (iv) circumstances outside the control of the Managing Owner or the Transfer Agent make it for all practical purposes not feasible to process Creation Baskets. The Managing Owner shall notify the Participant of a rejection of any Creation Order. The Managing Owner may not revoke a previously accepted Creation Order, as defined in these Procedures. Neither the Managing Owner nor its delegate will be liable to any person or in any way for any loss or damages that may result from any such rejection.
REJECTING OR SUSPENDING CREATION ORDERS. The Sponsor reserves the absolute right to reject acceptance of a Creation Order or Creation Basket Deposit if (i) the Sponsor or Transfer Agent has determined the Creation Order or Creation Basket Deposit is not in proper form; (ii) the Sponsor has determined the acceptance or receipt of which would have adverse tax consequences to the Trust or to the Shareholders; (iii) the acceptance or receipt of which could, in the opinion of counsel to the Sponsor, be unlawful; or (iv) circumstances outside the control of the Sponsor or the Transfer Agent make it for all practical purposes not feasible to process Creation Baskets. The Sponsor shall notify the Participant of a rejection of any Creation Order. The Sponsor may not revoke a previously accepted Creation Order, as defined in these Procedures. Neither the Sponsor nor its delegate will be liable to any person or in any way for any loss or damages that may result from any such rejection.
REJECTING OR SUSPENDING CREATION ORDERS. The Managing Owner or its designee reserves the absolute right to reject acceptance of a Creation Order if: (i) the Managing Owner, or its designee, determines that, due to position limits or otherwise, investment alternatives that will enable a Fund to meet its investment objective are not available to the Fund at that time; (ii) it is determined by the Managing Owner, or its designee, not to be in proper form; (iii) the Managing Owner, or its designee, has determined such Purchase Order would have adverse tax consequences to the Trust or to the Beneficial Owners; (iv) the acceptance or receipt of such Purchase Order could, in the opinion of counsel to the Managing Owner be unlawful; or (v) if circumstances outside the control of the Managing Owner, or its designee, make it for all practical purposes not feasible to process creations of Baskets. The Managing Owner or its designee shall notify the Participant of a rejection or revocation of any Creation Order. The Managing Owner may, in its discretion, suspend the right of repurchase, or postpone the purchase settlement date, (i) for any period during which an Exchange or any other exchange material to the valuation or operation of a Fund is closed other than for customary holidays or weekend closings or trading is suspended or restricted in any of the Fund’s investments; (ii) for any period during which an emergency exists as a result of which the fulfillment of a purchase order is not reasonably practicable; or (iii) for such other period as the Managing Owner determines to be necessary for the protection of the Shareholders. The Managing Owner or its designee may not revoke a previously accepted Creation Order, as defined in Section 2 of this Annex. The Managing Owner or its designee is not liable to any person or in any way for any loss or damages that may result from any such rejection or suspension.
REJECTING OR SUSPENDING CREATION ORDERS. The Managing Owner or its delegate reserves the absolute right to reject acceptance of a Creation Order if (i) the order is not in proper form as determined by the Managing Owner, its delegate or the Transfer Agent; (ii) the acceptance of the Creation Order may, in the opinion of counsel, be unlawful; (iii) the Managing Owner or its delegate believes that acceptance of the Creation Order would have adverse tax consequences to the Fund or its Shareholders; or (iv) circumstances outside the control of Managing Owner, its delegate or the Transfer Agent make it for all practical purposes, not feasible to process a Creation Order. The Managing Owner or its delegate shall notify the Participant of a rejection or revocation of any Creation Order. The Managing Owner or its delegate may not revoke a previously accepted Creation Order, as defined in Section 2 of this Annex. The Managing Owner or its delegate is not liable to any person or in any way for any loss or damages that may result from any such rejection.
