Common use of Transfer Agency Services Clause in Contracts

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of Corporation and each PortfolioFund, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio Fund on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the TrustCorporation, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio Fund as identified by the Trust Corporation (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests orders to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)) and/or DTC; (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust Corporation and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Corporation; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust Corporation on behalf of the applicable PortfolioFund; (viii) record the issuance of Shares of the applicable Portfolio Fund and maintain a record of the total number of Shares of each Portfolio Fund which are issued and outstanding; and provide the Trust Corporation or its agent on a regular basis with the total number of Shares of each Portfolio Fund which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust Corporation and each PortfolioFund; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust Corporation and each PortfolioFund, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a PortfolioFund’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the TrustCorporation, the Transfer Agent shall process all transactions in each Portfolio Fund in accordance with the procedures mutually agreed upon by the Trust Corporation and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust Corporation or any other person or firm on behalf of such Portfolio Fund or from an Authorized Participant before cut-offs established by the TrustCorporation. The Transfer Agent shall report to the Trust Corporation any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer AgentAgent (the “Procedures”), the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)) and/or DTC; (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust with respect to Shares of each Portfolio and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)) and or DTC; (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with days that the total Trust may accept orders for purchase or redemptions, calculate and transmit to the Trust the number of outstanding Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust Administrator, on behalf of the Trust and each Portfolioof the Portfolios, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable a Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust Administrator on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Administrator on behalf of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Administrator on behalf of the Trust and each Portfoliothe Portfolios, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s Portfolio dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Administrator on behalf of the Trust, the Transfer Agent shall process all transactions in each Portfolio the Trust in accordance with the procedures mutually agreed upon by the Trust Administrator and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders purchases received in good order by the Transfer Agent or by the Trust Administrator or any other person or firm on behalf of such Portfolio the Administrator or the Trust or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust Administrator any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer AgentAgent (the “Procedures”), the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and; (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders purchases received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing; and (xii) adopt and maintain a business continuity plan with respect to its services hereunder.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer AgentAgent (the “Procedures”), the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)) and/or DTC; (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust with respect to Shares of each Portfolio and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of each Portfolio, as applicable, and the Transfer Agent, and in acknowledgement of the terms and conditions of the form of Participant Agreement attached as Exhibit A hereto, but only to the extent that such terms and conditions do not deviate from such Participant Agreement, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio Fund on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor Sponsor or the Trust, and promptly deliver any cash payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Sponsor, Authorized Participants and/or DTC, and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor Sponsor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor Sponsor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable PortfolioTrust; (viii) record the issuance of Shares of the applicable Portfolio Trust and maintain a record of the total number of Shares of each Portfolio the Trust which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but outstanding; provided that Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each PortfolioTrust; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of cash Creation Unit purchases and redemptions and the payment of a Portfoliothe Trust’s cash dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio the Trust or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the each Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the such Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the such Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction instructions to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the such Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the such Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the such Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which that are issued and outstanding; and provide the such Trust on a regular basis with the total number of Shares of each Portfolio which that are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the such Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the such Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the such Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the such Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the such Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the such Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each PortfolioFund, as applicable, and the Transfer AgentAgent (the “Procedures”), the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio Fund on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio Fund as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable PortfolioFund; (viii) record the issuance of Shares of the applicable Portfolio Fund and maintain a record of the total number of Shares of each Portfolio Fund which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio Fund which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each PortfolioFund; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each PortfolioFund, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a PortfolioFund’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio Fund in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio Fund or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures procedures, if any, established from time to time by agreement between the Trust Trust, on behalf of each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish maintain the record of the name and address of each Authorized Participant’s account in Participant and the applicable Portfolio on the Transfer Agent’s recordkeeping system number of Shares issued to and maintain such account for the benefit of held by such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from Authorized Participants, at the Distributor or direction and with the Trust, subject to a subsequent determination approval of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction instructions to the DTC or National Securities Clearance Corporation (“NSCC”), as applicable; (iv) receive and process redemption requests and redemption directions from Authorized Participants, at the direction and with the approval of the Distributor or the Trust Trust, and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions transactions, at the direction and with the approval of the Distributor or the Trust, directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but outstanding; provided that the Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, for or keep records of, or otherwise related to, of the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts for the sole benefit of the Trust as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain maintain, in accordance with applicable law, such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable lawAgent; (x) provide periodic certifications and reasonable documentation to the Chief Compliance Officer of the Trust in connection with his or her duties under Rule 38a-1 of the 1940 Act (as defined below); (xi) process any request from an Authorized Participant to change its account registrationregistration (including, without limitation, the processing of changes to any Personal Identification Numbers (PINS) or other identification procedures used by the Transfer Agent in connection with transactions by Authorized Participants); and (xixii) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase and redemption orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cutthe Order Cut-offs established by the TrustOff Time (as defined below). The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer AgentAgent (the “Procedures”), the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust Trust, on behalf of each the Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process Receive orders for the purchase of Creation Units shares of beneficial interest of the Portfolio (the “Shares”) from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iiiii) generate or cause Pursuant to be generated and transmitted confirmation of receipt of such purchase orders orders, issue the appropriate number of Shares and redemption requests book such Share issuance to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)Shareholder account; (iviii) receive and process Receive redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (viv) with respect to the transactions in items (i) through and (iviii) above, the Transfer Agent may execute shall process transactions received directly with Authorized Participantsfrom broker-dealers or other intermediaries authorized by the Trust who shall thereby be deemed to be acting on behalf of the Trust; (viv) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant monies as instructed by the Distributor or redeeming Shareholders; (vi) process transfer of Shares by the Trust registered owners thereof upon receipt of proper instruction and approval by the Trust; (vii) prepare process and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio;; and (viii) record the issuance of Shares of the applicable Portfolio and maintain pursuant to SEC Rule 17Ad-10(e) a record of the total number of Shares of each the Portfolio which are authorized, based upon data provided to it by the Trust, and issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each the Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoingFund.

Transfer Agency Services. Subject to the terms and conditions set forth in this Agreement, the Fund hereby employs and appoints the Transfer Agent to act as, and the Transfer Agent agrees to act as its transfer agent for the Fund's authorized and issued shares of beneficial interest ("Shares") and dividend disbursing agent. In accordance with procedures established from time to time by agreement between the Trust on behalf of each Portfolio, as applicable, Fund and the Transfer Agent, the Transfer Agent shallagrees that it will perform the following services: (ia) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account Receive for the benefit of such Authorized Participant; (ii) receive and process acceptance, orders for the purchase of Creation Units Shares from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the TrustDresdner, and promptly deliver payment and appropriate documentation thereof to the custodian Custodian of the applicable Portfolio as identified by Fund authorized pursuant to the Declaration of Trust of the Fund (the “"Custodian”"); (iiib) generate or cause Pursuant to be generated purchase orders, issue the appropriate number of Shares and transmitted confirmation of receipt of hold such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)Shares in an omnibus account for Dresdner; (ivc) receive and process Receive for acceptance redemption requests and redemption directions from the Distributor or the Trust Dresdner and deliver the appropriate documentation thereof to the Custodian; (vd) with In respect to the transactions in items (ia), (b) through and (ivc) above, the Transfer Agent may shall execute transactions directly with Authorized ParticipantsDresdner; (vie) at At the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemptionredemption by Dresdner, pay over or cause to be paid over in the appropriate manner such monies, if any, monies to the redeeming Authorized Participant as instructed by the Distributor or the Trust Dresdner; (viif) prepare Effect transfers of Shares by Dresdner upon receipt of appropriate instructions from Dresdner; (g) Prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions to Dresdner as declared by the Trust on behalf of the applicable PortfolioFund; (viiih) record Maintain records of account for and advise the Fund and Dresdner as to the foregoing; and (i) Record the issuance of Shares of the applicable Portfolio Fund and maintain pursuant to SEC Rule 17Ad-10(e) a record of the total number of Shares of each Portfolio the Fund which are authorized, based upon data provided to it by the Fund, and issued and outstanding; and . The Transfer Agent shall also provide the Trust Fund on a regular basis with the total number of Shares of each Portfolio which are authorized and issued and outstanding but Transfer Agent and shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, to the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoingFund.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of Company and each Portfolio, as applicable, and the Transfer AgentAgent (the "Procedures"), the Transfer Agent shall: (i) establish each Authorized Participant’s 's account in the applicable Portfolio on the Transfer Agent’s 's recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the TrustCompany, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust Company (the “"Custodian”"); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“"NSCC”"); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust Company and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Company; (vii) prepare and transmit by means of DTC’s 's book-entry system payments for any dividends and distributions declared by the Trust Company on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust Company on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust Company and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust Company and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s 's dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the TrustCompany, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust Company and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust Company or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the TrustCompany. The Transfer Agent shall report to the Trust Company any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish one or more omnibus accounts representing DTC’s position in each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participantaccount; (ii) receive and process orders for the benefit of the appropriate Authorized Participant for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viiiv) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ixvi) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (xvii) process any request from an Authorized Participant to change its account registration; and (xiviii) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver prompt delivery of payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction instructions to the National Securities Clearance Corporation (“NSCC”)) and/or DTC; (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue issuance or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the each Trust on behalf of each and Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. Subject to the terms and conditions set forth in this Agreement, the Trust hereby employs and appoints the Transfer Agent to act as its transfer agent for the Trust’s authorized and issued shares of common stock (“Shares”) for direct shareholders of record (“Shareholders”) and as dividend disbursing agent, each as set out in the currently effective prospectuses and statement of additional information (“prospectus”) of the Funds. In accordance with procedures established from time to time by agreement between the Trust on behalf of each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shallagrees that it will perform the following services: (ia) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system Create and maintain such account Shareholder accounts, receive for the benefit of such Authorized Participant; (ii) receive and process acceptance orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the TrustShares, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”)) as authorized by the Trust; (iiib) generate or cause Pursuant to be generated purchase orders, issue the appropriate number of Shares and transmitted confirmation of receipt of hold such purchase orders and redemption requests to Shares in the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)Shareholder account; (ivc) receive and process Receive for acceptance redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (vd) with In respect to the transactions in items (ia), (b) through and (ivc) above, the Transfer Agent may shall only execute transactions directly with Authorized Participantsinsurance companies, broker-dealers or other intermediaries authorized to sell shares of the Funds; (vie) at At the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant monies as instructed by the Distributor or the Trust redeeming Shareholders; (viif) prepare Effect transfers of Shares by the registered owners thereof upon receipt of appropriate instructions; (g) Prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable PortfolioFunds; (viiih) record Maintain records of account for the Trust and its Shareholders and provide information regarding such accounts to the Trust and its Shareholders; and (i) Record the issuance of Shares of the applicable Portfolio Trust and maintain pursuant to SEC Rule 17Ad-10(e) a record of the total number of Shares of each Portfolio the Trust which are authorized, based upon data provided to it by the Trust, and issued and outstanding; and . The Transfer Agent shall also provide the Trust on a regular basis with the total number of Shares of each Portfolio which are authorized and issued and outstanding but outstanding. The Transfer Agent shall have no obligation, obligation when recording the issuance or redemption of Shares, Shares to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any (1) laws relating toto the issue, sale or corporate actions required for, the issue or sale redemption of such SharesShares or (2) impermissible frequent trading activity as specified under any Trust policy and procedure or in the applicable prospectus, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of each Portfolio, as applicable, and the Transfer AgentAgent (the “Procedures”), the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio Trust on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or Authorized Participants, which orders for purchase have been accepted by the Sponsor and the Trust, subject ’s distributor prior to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”)such processing; (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor Authorized Participants or the Trust Sponsor on behalf of the Trust, which redemption requests and deliver redemption directions have been accepted by the appropriate documentation thereof Sponsor and the Trust’s distributor, prior to the Custodiansuch processing; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to notify the Sponsor when the Authorized Participant has delivered the Shares to be paid over in the appropriate manner such monies, if any, redeemed to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust’s DTC account; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable PortfolioTrust; (viii) record the issuance of Shares of the applicable Portfolio Trust and maintain a record of the total number of Shares of each Portfolio the Trust which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each PortfolioTrust; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xix) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio the Trust or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted to Authorized Participants confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from the Distributor or the Trust Trust, subject to a determination of acceptance by the Distributor or the Trust, and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units Shares from the Distributor or the Trust, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iiiii) generate or cause pursuant to be generated and transmitted confirmation of receipt of such purchase orders orders, issue the appropriate number of Shares and redemption requests book such Share issuance to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)Shareholder account; (iviii) receive and process redemption requests and redemption directions from the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (viv) with respect to the transactions in items (i) through and (iviii) above, the Transfer Agent may execute shall process transactions received directly with Authorized Participantsfrom broker-dealers or other intermediaries authorized by the Trust who shall thereby be deemed to be acting on behalf of the Trust; (viv) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant monies as instructed by the Distributor redeeming Shareholders; (vi) process Shareholder account maintenance instructions (excluding instructions to change an account’s registration or wire instructions) received directly from broker-dealers or other intermediaries authorized per procedures established by mutual agreement of the Trust Transfer Agent and the Trust; (vii) prepare process transfer of Shares by the registered owners thereof upon receipt of proper instruction and approval by the Trust; (viii) process and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio;Trust; and (viiiix) record the issuance of Shares of the applicable Portfolio Trust and maintain pursuant to SEC Rule 17Ad-10(e) a record of the total number of Shares of each Portfolio the Trust which are authorized, based upon data provided to it by the Trust, and issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the TrustUnits, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)) and/or DTC; (iv) receive and process redemption requests and redemption directions from directions, subject to a determination of acceptance by the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized ParticipantsParticipants and the Distributor or its agent; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by written agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s 's account in the applicable Portfolio on the Transfer Agent’s 's recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the TrustUnits, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “"Custodian”"); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“"NSCC”"); (iv) receive and process redemption requests and redemption directions from directions, subject to a determination of acceptance by the Distributor or the Trust Trust, and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may shall execute transactions directly with Authorized ParticipantsParticipants and the Distributor or its agent; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s 's book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s 's dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by written agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the TrustUnits, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Clearing Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from directions, subject to a determination of acceptance by the Distributor or the Trust Trust, and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may shall execute transactions directly with Authorized ParticipantsParticipants and the Distributor or its agent; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust Trust; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such Portfolio’s bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing. (xii) The Transfer Agent shall not issue on behalf of a Portfolio any Creation Units where it has received an Instruction from the Trust or the Distributor or written notification from any federal or state authority that the sale of the Shares has been suspended or discontinued, and the Transfer Agent shall be entitled to rely upon such Instructions or written notification. (xiii) Upon the issuance of Creation Units as provided herein, the Transfer Agent shall not be responsible for the payment of any original issue or other taxes, if any, required to be paid by a Portfolio or the Distributor in connection with such issuance. (xiv) The Transfer Agent will act only upon Instruction from the Trust and/or the Distributor in addressing any failure in the delivery of cash, securities and/or Shares in connection with the creation and redemption of Creation Units. The Transfer Agent shall not be required to advance, expend or risk its own funds or otherwise incur or become exposed to financial liability in the performance of its duties hereunder.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust Trust, on behalf of each Portfolio, as applicablethe Funds, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio Fund on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the TrustAuthorized Participants, subject to a subsequent determination of acceptance which orders for purchase have been accepted by the Distributor or the TrustSponsor, and prior to such processing, promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio Fund as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated generated, and transmitted transmit, confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) transmit acceptances of purchase orders, as provided by the Sponsor on behalf of the Trust, to the Authorized Participants by 6:00 p.m. (New York time) on the date it receives any such acceptance from the Sponsor; (v) receive and process redemption requests and redemption directions with respect to each Fund from the Distributor Authorized Participants or the Sponsor on behalf of the Trust in the case of a mandatory redemption, which redemption requests and redemption orders have been accepted by the Sponsor, prior to such processing, promptly deliver the appropriate documentation thereof to the CustodianCustodian and promptly deliver a copy of any such requests or directions to the Sponsor; (vvi) with respect generate or cause to items (i) through (iv) abovebe generated, and transmit, confirmation of receipt of such redemption requests and redemption directions to the Transfer Agent may execute transactions directly with Authorized Participants; (vivii) at the appropriate time as and when it receives monies paid to it by the Custodian transmit acceptances of redemption requests with respect to any redemptioneach Fund, pay over or cause to be paid over in as provided by the appropriate manner such monies, if anySponsor on behalf of the Trust, to the redeeming Authorized Participant as instructed Participants by 6:00 p.m. (New York time) on the Distributor or date it receives any such acceptance from the Trust Sponsor on behalf of the Trust; (viiviii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolioa Fund; (viiiix) record the issuance of Shares of each Class of the applicable Portfolio Fund and maintain a record of the total number numbers of Shares of each Portfolio Class of each Fund which are issued and outstanding; outstanding and provide the Trust on a regular basis with the total number numbers of Shares of each Portfolio Class of each Fund which are issued and outstanding but the Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance under the Registration Statement for the applicable Fund, or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each PortfolioTrust; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ixx) maintain and manage, as agent for the Trust and each PortfolioFund, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfoliosuch Fund’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (xxi) process any request from an Authorized Participant to change its account registration; and (xixii) except as otherwise instructed by the Trust, on behalf of the Transfer Agent shall Funds, process all transactions in each Portfolio Fund in accordance with the procedures mutually agreed upon by the Trust Trust, on behalf of the Funds, and the Transfer Agent with respect to the proper net asset value Class Value and Class Value per Share (each as defined in such Fund’s Prospectus) to be applied to purchase and redemption orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio the Trust or from an Authorized Participant before cutsuch Fund’s Order Cut-offs established by the TrustOff Time (as defined below). The Transfer Agent shall report to the Trust Sponsor, on behalf of the Trust, any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from Authorized Participants, at the Distributor or direction and with the Trust, subject to a subsequent determination approval of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction instructions to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from Authorized Participants, at the direction and with the approval of the Distributor or the Trust Trust, and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions transactions, at the direction and with the approval of the Distributor or the Trust, directly with Authorized Participants; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but outstanding; provided that the Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts for the benefit of the Trust as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain maintain, in accordance with applicable law, such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable lawAgent; (x) provide periodic certifications and reasonable documentation to the Chief Compliance Officer of the Trust in connection with his or her duties under Rule 38a-1 of the 1940 Act (as defined below); (xi) process any request from an Authorized Participant to change its account registrationregistration (including, without limitation, the processing of changes to any Personal Identification Numbers (PINs) or other identification procedures used by the Transfer Agent in connection with transactions by Authorized Participants); and (xixii) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase and redemption orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cutthe Order Cut-offs established by the TrustOff Time (as defined below). The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by agreement between the Trust on behalf of and each Portfolio, as applicable, and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant; (ii) receive and process orders for the purchase of Creation Units from the Distributor or the TrustUnits, subject to a subsequent determination of acceptance by the Distributor or the Trust, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”)) and/or DTC; (iv) receive and process redemption requests and redemption directions from directions, subject to a determination of acceptance by the Distributor or the Trust and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may execute transactions directly with Authorized ParticipantsParticipants and the Distributor or its agent; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust ; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable Portfolio; (viii) record the issuance of Shares of the applicable Portfolio and maintain a record of the total number of Shares of each Portfolio which are issued and outstanding; and provide the Trust on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolio; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each Portfolio, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolio’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law; (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trust, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust or any other person or firm on behalf of such Portfolio or from an Authorized Participant before cut-offs established by the Trust. The Transfer Agent shall report to the Trust any known exceptions to the foregoing.

Transfer Agency Services. In accordance with procedures established from time to time by written agreement between the Trust on behalf of each Portfolio, as applicable, Companies and the Transfer Agent, the Transfer Agent shall: (i) establish each Authorized Participant’s account in the applicable Portfolio Company on the Transfer Agent’s recordkeeping system and maintain such account for the benefit of such Authorized Participant;; Information Classification: Limited Access (ii) receive and process orders for the purchase of Creation Units from the Distributor or the TrustUnits, subject to a subsequent determination of acceptance by the Distributor or the Trustapplicable Company, and promptly deliver payment and appropriate documentation thereof to the custodian of the applicable Portfolio as identified by the Trust Company (the “Custodian”); (iii) generate or cause to be generated and transmitted confirmation of receipt of such purchase orders and redemption requests to the Authorized Participants and, if applicable, transmit appropriate trade instruction to the National Securities Clearance Corporation (“NSCC”); (iv) receive and process redemption requests and redemption directions from directions, subject to a determination of acceptance by the Distributor or the Trust applicable Company, and deliver the appropriate documentation thereof to the Custodian; (v) with respect to items (i) through (iv) above, the Transfer Agent may shall execute transactions directly with Authorized ParticipantsParticipants and the Distributor or its agent; (vi) at the appropriate time as and when it receives monies paid to it by the Custodian with respect to any redemption, pay over or cause to be paid over in the appropriate manner such monies, if any, to the redeeming Authorized Participant as instructed by the Distributor or the Trust applicable Company; (vii) prepare and transmit by means of DTC’s book-entry system payments for any dividends and distributions declared by the Trust on behalf of the applicable PortfolioCompany; (viii) record the issuance of Shares of the applicable Portfolio Company and maintain a record of the total number of Shares of each Portfolio such Company which are issued and outstanding; and provide the Trust such Company on a regular basis with the total number of Shares of each Portfolio which are issued and outstanding but Transfer Agent shall have no obligation, when recording the issuance of Shares, to monitor the issuance of such Shares to determine if there are authorized Shares available for issuance or to take cognizance of any laws relating to, or corporate actions required for, the issue or sale of such Shares, which functions shall be the sole responsibility of the Trust and each Portfolioapplicable Company; and, excluding DTC or its nominee as the record or registered owner, the Transfer Agent shall have no obligations or responsibilities to account for, keep records of, or otherwise related to, the beneficial owners of the Shares; (ix) maintain and manage, as agent for the Trust and each PortfolioCompany, such bank accounts as the Transfer Agent shall deem necessary for the performance of its duties under this Agreement, including but not limited to, the processing of Creation Unit purchases and redemptions and the payment of a Portfolioeach Company’s dividends and distributions. The Transfer Agent may maintain such accounts at the bank or banks deemed appropriate by the Transfer Agent in accordance with applicable law;; Information Classification: Limited Access (x) process any request from an Authorized Participant to change its account registration; and (xi) except as otherwise instructed by the Trusta Company, the Transfer Agent shall process all transactions in each Portfolio in accordance with the procedures mutually agreed upon by the Trust Companies and the Transfer Agent with respect to the proper net asset value to be applied to purchase orders received in good order by the Transfer Agent or by the Trust Companies or any other person or firm on behalf of such Portfolio the Companies or from an Authorized Participant before cut-offs established by the TrustCompanies. The Transfer Agent shall report to the Trust Companies any known exceptions to the foregoing.