Common use of REJECTING OR SUSPENDING REDEMPTION ORDERS Clause in Contracts

REJECTING OR SUSPENDING REDEMPTION ORDERS. The Managing Owner shall reject any Redemption Order the fulfillment of which its counsel advises would be illegal under applicable laws and regulations. The Managing Owner may, in its discretion, suspend the right of redemption, or postpone the Settlement Time, (i) for any period during which an Exchange is closed other than customary weekend or holiday closings, or trading is suspended or restricted; (ii) for any period during which an emergency exists as a result of which delivery, disposal or evaluation of the applicable Fund’s assets is not reasonably practicable; or (iii) for such other period as the Managing Owner determines to be necessary for the protection of Shareholders. The Managing Owner will reject a Redemption Order if the order is not in property form or if the fulfillment of the order, in the opinion of its counsel, might be unlawful. The Managing Owner shall notify the Participant of a rejection or suspension of any Redemption Order. The Managing Owner may not revoke a previously accepted Redemption 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 suspension or postponement.

REJECTING OR SUSPENDING REDEMPTION ORDERS. The Managing Owner shall reject any Redemption Order the fulfillment of which its counsel advises would be illegal under applicable laws and regulations. The Managing Owner may, in its discretion, suspend the right of redemption, or postpone the Settlement Time, (i) for any period during which an Exchange is closed other than customary weekend or holiday closings, or trading is suspended or restricted; (ii) for any period during which an emergency exists as a result of which delivery, disposal or evaluation of the applicable FundTrust’s assets is not reasonably practicable; or (iii) for such other period as the Managing Owner determines to be necessary for the protection of Shareholders. The Managing Owner will reject a Redemption Order if the order is not in property form or if the fulfillment of the order, in the opinion of its counsel, might be unlawful. The Managing Owner shall notify the Participant of a rejection or suspension of any Redemption Order. The Managing Owner may not revoke a previously accepted Redemption 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 suspension or postponement.

REJECTING OR SUSPENDING REDEMPTION ORDERS. The Managing Owner Owner, or its designee, shall reject any Redemption Order if: (i) the fulfillment of which its counsel advises would be illegal illegal; (ii) it is determined by the Managing Owner, or its designee, not to be in proper form; or (iii) as a result of the Redemption Order, the number of remaining outstanding Shares would be reduced to fewer than the number of Shares required to remain outstanding for a Fund under applicable laws and regulationsexchange rules. The Managing Owner or its designee may, in its discretion, suspend the right of redemption, or postpone the Settlement Time, : (i) for any period during which an Exchange any of the Exchanges or any other exchange material to the valuation or operation of the Fund is closed other than for customary holidays or weekend closings or holiday closings, or when trading is suspended or restrictedrestricted in any of the Fund’s investments; (ii) for any period during which an emergency exists as a result of which the delivery, disposal or evaluation of the applicable a Fund’s assets is not reasonably practicable; or (iii) for such other period as the Managing Owner determines to be necessary for the protection of Shareholders. The Managing Owner will reject a Redemption Order if the order is not in property form or if the fulfillment of the order, in the opinion of its counsel, might be unlawfulshareholders. The Managing Owner shall notify the Participant of a rejection or suspension revocation of any Redemption Order. The Managing Owner or its designee may not revoke a previously accepted Redemption Order, as defined in these ProceduresSection 2 of this Annex. Neither the The Managing Owner nor or its delegate will be designee is not liable to any person or in any way for any loss or damages that may result from any such rejection, suspension or postponement.