Common use of Status of Shares and Limitation of Personal Liability Clause in Contracts

Status of Shares and Limitation of Personal Liability. The ownership of the Trust Property and the right to conduct the business of the Trust described herein are vested exclusively in the Sponsor and the Trustee (solely to the extent set forth herein). The Beneficial Owner shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for any partition or division of any Trust Property, rights or interests of the Trust, nor can they be called upon to share or assume any losses of the Trust or suffer an assessment of any kind by virtue of their ownership of Shares. Every Registered Owner or Beneficial Owner, by virtue of having purchased a Share, shall become a Registered Owner or Beneficial Owner of the Trust and shall be held to have expressly assented and agreed to be bound by the terms hereof and to have become a party hereto. The death, incapacity, dissolution, termination or bankruptcy of a Registered Owner or Beneficial Owner during the existence of the Trust shall not operate to terminate the Trust, nor entitle the representative of any deceased Registered Owner or Beneficial Owner to an accounting or to take any action in court or elsewhere against the Trust, the Sponsor or the Trustee, but entitles such representative only to the rights of such Registered Owner or Beneficial Owner under this Trust Agreement. Ownership of Shares shall not constitute the Beneficial Owner as partners. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Trust Agreement or as specified by the Trust or the Sponsor when creating the Shares). No Registered Owner or Beneficial Owner shall be subject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, obligations or affairs of the Trust. Beneficial Owners shall have the same limitation of personal liability as is extended to stockholders of a private corporation for profit incorporated under the Delaware General Corporation Law.

Status of Shares and Limitation of Personal Liability. The ownership of Shares shall be deemed to be personal property giving only the Trust Property and the right to conduct the business of the Trust described herein are vested exclusively rights provided in the Sponsor and the Trustee (solely to the extent set forth herein). The Beneficial Owner shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for any partition or division of any Trust Property, rights or interests of the Trust, nor can they be called upon to share or assume any losses of the Trust or suffer an assessment of any kind by virtue of their ownership of Sharesthis instrument. Every Registered Owner or Beneficial Owner, Shareholder by virtue of having purchased a Share, shall become a Registered Owner or Beneficial Owner of the Trust and Shareholder shall be held to have expressly assented and agreed to be bound by the terms hereof and to have become a party heretohereof. The death, incapacity, dissolution, termination or bankruptcy death of a Registered Owner or Beneficial Owner Shareholder during the existence continuance of the Trust shall not operate to terminate the Trust, Trust or any Series of Shares thereof nor entitle the representative of any deceased Registered Owner or Beneficial Owner Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Sponsor Trust or the TrusteeTrustees, but entitles such representative only to the rights of such Registered Owner or Beneficial Owner said decedent under this Trust AgreementTrust. Ownership of Shares shall not entitle the Shareholder to any title in or to the whole or any part of the Trust Property or right to call for a partition or division of the same or for an accounting, nor shall the ownership of Shares constitute the Beneficial Owner Shareholders partners. Neither the Trust nor the Trustees nor any officer, employee or agent of the Trust shall have any power to bind personally any Shareholder nor, except as partnersspecifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. The Shares shall be personal property giving only the rights specifically set forth in this Declaration. For the avoidance of doubt, Shareholders shall have no rights, privileges, claims or remedies under any contract or agreement entered into by the Trust or any Series thereof with any service provider or other agent to or contractor with the Trust or a Series thereof, including, without limitation, any third party beneficiary rights. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust shall have any power to bind personally any Shareholder, nor, except as specifically provided herein, to call upon any Shareholder for the payment of any sum of money or assessment whatsoever other than such as the Shareholder may at any time personally agree to pay. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (rights, except as specified in this Trust Agreement or as specified by the Trust or the Sponsor when creating the Shares). No Registered Owner or Beneficial Owner shall be subject in such capacity Trustees may determine with respect to any personal liability whatsoever to any Person in connection with Trust Property Series or the acts, obligations or affairs Class of the Trust. Beneficial Owners shall have the same limitation of personal liability as is extended to stockholders of a private corporation for profit incorporated under the Delaware General Corporation LawShares.

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving only the rights provided in this Declaration of Trust. The ownership of the Trust Property of every description and the right to conduct the any business of the Trust herein before described herein are vested exclusively in the Sponsor Trustees, and the Trustee (solely to the extent set forth herein). The Beneficial Owner Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for any partition or division of any Trust Property, rights or interests of the Trust, nor can they be called upon to share or assume any losses of the Trust or suffer an assessment of any kind by virtue of their ownership of Shares. Every Registered Owner or Beneficial Owner, Shareholder by virtue of having purchased a Share, shall become a Registered Owner or Beneficial Owner of the Trust and Shareholder shall be held to have expressly assented and agreed to be bound by the terms hereof and to have become a party heretoany By-Laws adopted pursuant to Article IV, Section 3 hereof. The death, incapacity, dissolution, termination termination, or bankruptcy of a Registered Owner or Beneficial Owner Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the representative of any deceased Registered Owner or Beneficial Owner such Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Sponsor Trust or the TrusteeTrustees, but entitles such representative only to the rights of such Registered Owner or Beneficial Owner Shareholder under this Trust AgreementDeclaration of Trust. Ownership of Shares shall not constitute the Beneficial Owner Shareholders as partners. For the avoidance of doubt, unless expressly set forth therein and authorized by the Trustees, Shareholders shall have no rights, privileges, claims, or remedies under any contract or agreement entered into by the Trust or any Series with any service provider or other agent to or contractor with the Trust or a Series, including, without limitation, any third party beneficiary rights. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust shall have any power to bind personally any Shareholder. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Declaration of Trust Agreement or as specified by the Trust or the Sponsor Trustees when creating the Shares). No Registered Owner or Beneficial Owner Shareholder of the Trust shall be subject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, obligations or affairs of the Trust. Beneficial Owners Shareholders shall have the same limitation of personal liability as is extended to stockholders of a private corporation for profit incorporated under the Delaware General Corporation Law.

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving only the rights provided in this Declaration of Trust. The ownership of the Trust Property of every description and the right to conduct the any business of the Trust herein before described herein are vested exclusively in the Sponsor Trustees, and the Trustee (solely to the extent set forth herein). The Beneficial Owner Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for any partition or division of any Trust Property, rights or interests of the Trust, nor can they be called upon to share or assume any losses of the Trust or suffer an assessment of any kind by virtue of their ownership of Shares. Every Registered Owner or Beneficial Owner, Shareholder by virtue of having purchased a Share, shall become a Registered Owner or Beneficial Owner of the Trust and Shareholder shall be held to have expressly assented and agreed to be bound by the terms hereof and to have become a party heretohereof. The death, incapacity, dissolution, termination termination, or bankruptcy of a Registered Owner or Beneficial Owner Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the representative of any deceased Registered Owner or Beneficial Owner such Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Sponsor Trust or the TrusteeTrustees, but entitles such representative only to the rights of such Registered Owner or Beneficial Owner Shareholder under this Trust AgreementDeclaration of Trust. Ownership of Shares shall not constitute the Beneficial Owner Shareholders as partners. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust shall have any power to bind personally any Shareholder. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Declaration of Trust Agreement or as specified by the Trust or the Sponsor Trustees when creating the Shares). No Registered Owner or Beneficial Owner Shareholder of the Trust shall be subject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, obligations or affairs of the Trust. Beneficial Owners Shareholders shall have the same limitation of personal liability as is extended to stockholders of a private corporation for profit incorporated under the Delaware General Corporation Law. Ownership of Shares shall not make the Shareholders third-party beneficiaries of any contract entered into by the Trust.

Status of Shares and Limitation of Personal Liability. Shares shall be deemed to be personal property giving only the rights provided in this Declaration of Trust. The ownership of the Trust Property of every description and the right to conduct the any business of the Trust herein before described herein are vested exclusively in the Sponsor Trustees, and the Trustee (solely to the extent set forth herein). The Beneficial Owner Shareholders shall have no interest therein other than the beneficial interest conferred by their Shares, and they shall have no right to call for any partition or division of any Trust Property, rights or interests of the Trust, nor can they be called upon to share or assume any losses of the Trust or suffer an assessment of any kind by virtue of their ownership of Shares. Every Registered Owner or Beneficial Owner, Shareholder by virtue of having purchased a Share, shall become a Registered Owner or Beneficial Owner of the Trust and Shareholder shall be held to have expressly assented and agreed to be bound by the terms hereof and to have become a party heretohereof. The death, incapacity, dissolution, termination termination, or bankruptcy of a Registered Owner or Beneficial Owner Shareholder during the existence of the Trust shall not operate to terminate the Trust, nor entitle the representative of any deceased Registered Owner or Beneficial Owner such Shareholder to an accounting or to take any action in court or elsewhere against the Trust, the Sponsor Trust or the TrusteeTrustees, but entitles such representative only to the rights of such Registered Owner or Beneficial Owner Shareholder under this Trust AgreementDeclaration of Trust. Ownership of Shares shall not constitute the Beneficial Owner Shareholders as partners. Neither the Trust nor the Trustees, nor any officer, employee or agent of the Trust shall have any power to bind personally any Shareholder. The Shares shall not entitle the holder to preference, preemptive, appraisal, conversion or exchange rights (except as specified in this Declaration of Trust Agreement or as specified by the Trust or the Sponsor Trustees when creating the Shares). No Registered Owner or Beneficial Owner Shareholder of the Trust shall be subject in such capacity to any personal liability whatsoever to any Person in connection with Trust Property or the acts, obligations or affairs of the Trust. Beneficial Owners Shareholders shall have the same limitation of personal liability as is extended to stockholders of a private corporation for profit incorporated under the Delaware General Corporation Law.