Common use of Status of the Manager Clause in Contracts

Status of the Manager. The services of the Manager to the Trust, or with respect to the ETF, are not to be deemed exclusive, and the Manager shall be free to render similar services to others, as long as its services to the Trust or to the ETF are not impaired thereby. The Manager shall be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Trust in any way, or otherwise be deemed an agent of the Trust.

Status of the Manager. The services of the Manager to the Trust, or with respect to the ETFETF Fund, are not to be deemed exclusive, and the Manager shall be free to render similar services to others, as long as its services to the Trust or to the ETF Fund are not impaired thereby. The Manager shall be deemed to be an independent contractor and shall, unless otherwise expressly provided or authorized, have no authority to act for or represent the Trust in any way, or otherwise be deemed an agent of the Trust.