Common use of Selection of Securities Clause in Contracts

Selection of Securities. Licensor shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD with a list of Appropriate Securities for deposit by GFD, in its sole discretion, into the Trust for the benefit of such Series. The date that the Appropriate Securities are deposited is referred to herein as the “Deposit Date”. GFD shall provide to Licensor the registration statement relating to the Trust and any amendments thereto (the “Registration Statement”) prior to the Target Date for each Series. Licensor hereby covenants, represents and warrants that, as of any Target Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s Registration Statement most recently provided to the Licensor prior to the Target Date. Licensor further covenants, represents and warrants that: (i) as of the Target Date, the list of Appropriate Securities will be consistent, and not conflict, with that provided to other clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategy; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an objective, verifiable and non-discretionary strategy; (iii) the historical performance results of the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor shall not tamper with such results on a historical or “going forward” basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before April 6, 2020, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “Deposit Date”. GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “Registration Statement”) prior to the Target Date for each Series). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust’s Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust’s Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “going forward” basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before July 6, 2020, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “Deposit Date”. GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “Registration Statement”) prior to the Target Date for each Series). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust’s Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust’s Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “going forward” basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before November 12, 2018, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before November 12, 2019, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before May 11, 2017, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before August 9, 2018, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before August 12, 2019, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before February 12, 2020, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before February 11, 2018, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before May 13, 2019, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.

Selection of Securities. Licensor On or before February 13, 2019, Consultant shall serve as the Portfolio Consultant of the Trust and prior to 12:00 p.m. (C.S.T.) on the third business day before the date of deposit for each Series (such prior day being the “Target Date”), provide GFD Guggenheim with a list of Appropriate Securities for deposit by GFDGuggenheim, in its sole discretion, into the Trust. If Consultant/Licensor fails to provide Guggenheim with a list of Appropriate Securities on or before such date, Consultant/Licensor shall be liable (and shall promptly pay) for any costs and expenses incurred by Guggenheim and the Trust for the benefit of resulting from such Seriesdelay. The date that the Appropriate Securities are deposited is referred to herein as the “"Deposit Date”". GFD Guggenheim shall provide to Licensor Consultant the registration statement relating to the Trust and any amendments thereto (the “"Registration Statement”) prior to the Target Date for each Series"). Consultant/Licensor hereby covenants, represents and warrants that, as of any Target Trust's Deposit Date, any list of Appropriate Securities furnished pursuant to this Agreement shall be appropriate for inclusion in such Trust based on the investment objectives and criteria set forth in the copy of the Trust’s 's Registration Statement most recently provided to the Licensor prior to the Target DateStatement. Licensor Consultant further covenants, represents and warrants that: (i) as of the Target Trust's Deposit Date, the list of Appropriate Securities and any consultation it provides with respect to the Trust will be consistent, and not conflict, with that provided to other Consultant/Licensor clients of the Licensor with similar investment objectives and strategies and a substantially similar investment program to the Strategyprogram; (ii) the list of Appropriate Securities shall be selected based on the Strategy, which is an a completely objective, verifiable and non-discretionary strategy; (iii) the historical performance results of securities selected pursuant to the Strategy provided to GFD will be based on all of the components of the Strategy; and (iv) Licensor Consultant shall not tamper with such results on a historical or “"going forward” " basis. GFD acknowledges that the services pursuant to this Agreement will not be: (i) based on the circumstances of, or otherwise tailored to, the Trust, or (ii) deemed to be investment advice to or for the Trust (within the meaning of the Advisers Act). Licensor shall not have “investment discretion” over any Trust assets for purposes of the Advisers Act and shall not have authority to place orders for the execution of transactions or to give instructions to GFD with respect to Trust assets. Except for Licensor’s obligations to GFD under this Agreement, the Licensor shall have no obligations or responsibilities with respect to, the provision of advice to the Trust, or for determining the appropriateness or suitability of the Strategy or any of the securities included therein, for the Trust. It shall be the sole responsibility of GFD to: (i) determine whether the Strategy and each security in the list of Appropriate Securities initially is and remains appropriate and suitable for the Trust; and (ii) make discretionary determinations as to the securities to be bought and sold for the Trust.