Common use of Role of Authorized Participant Clause in Contracts

Role of Authorized Participant. (a) The Authorized Participant acknowledges that, for all purposes of this Agreement and each Trust Agreement, the Authorized Participant is and shall be deemed to be an independent contractor, and not an employee, director, officer, constituent partner, manager, member or affiliate of any Trust. The Authorized Participant has no authority to represent that it or any person affiliated with it is anything other than an independent contractor of each Trust, and such representation, if made, shall not bind any Trust or any affiliate thereof, and must not be relied upon by any person. The Authorized Participant, in its capacity as Authorized Participant, agrees that neither it nor any of its affiliates is authorized to make any representation concerning any Trust.

Role of Authorized Participant. (a) The Authorized Participant acknowledges that, for all purposes of this Agreement and each Trust the LLC Agreement, the Authorized Participant is and shall be deemed to be an independent contractor, contractor and not an employee, director, officer, constituent partner, manager, member or affiliate of any Trustthe Fund. The Authorized Participant has no authority to represent that it or any person affiliated with it is anything other than an independent contractor of each Trustthe Fund, and such representation, if made, shall not bind any Trust the Fund or any affiliate thereof, and must not be relied upon by any person. The Authorized Participant, in its capacity as Authorized Participant, agrees that neither it nor any of its affiliates is authorized to make any representation concerning any Trustthe Fund.

Role of Authorized Participant. (a) The Authorized Participant acknowledges that, for all purposes of this Agreement and each Trust LLC Agreement, the Authorized Participant is and shall be deemed to be an independent contractor, contractor and not an employee, director, officer, constituent partner, manager, member or affiliate of any TrustFund. The Authorized Participant has no authority to represent that it or any person affiliated with it is anything other than an independent contractor of each TrustFund, and such representation, if made, shall not bind any Trust Fund or any affiliate thereof, and must not be relied upon by any person. The Authorized Participant, in its capacity as Authorized Participant, agrees that neither it nor any of its affiliates is authorized to make any representation concerning any TrustFund.