Common use of STANDING REDEMPTION INSTRUCTIONS Clause in Contracts

STANDING REDEMPTION INSTRUCTIONS. The Annexes hereto contain the AP’s Standing Redemption Instructions, which includes information identifying the account(s) into which Deposit Securities of each Trust and any other redemption proceeds should be delivered by the Trustee pursuant to a Redemption Order. This description of the Trust’s funds flow process supplements the Trust’s Prospectus with respect to the procedures to be used by the Distributor and Transfer Agent in processing an order for the creation or redemption of the Trust. A. The AP is required to have (i) signed an Authorized Participant Agreement for the Trust and (ii) assigned a personal identification number to each Authorized Person that the AP has authorized to act for such AP. This will allow an AP through its Authorized Person(s) to place a creation or redemption order with respect to Shares of the Trust. B. The AP and Distributor shall implement the “Funds Flow Process” as agreed to by the parties from time to time. C. Note that trades placed through the NSCC/DTC may only occur on any day that NSCC/DTC is open for business (“NSCC/DTC Business Day”).