Letterhead of Cushing Asset Management, LP]
[Letterhead of Xxxxxxx Asset Management, LP]
September 25, 2018
Board of Trustees
Xxxxxxx ETF Trust
0000 Xxxxxxx Xxxx, Xxxxx 000
Dallas, Texas 75225
To the Board of Trustees:
In order to provide Xxxxxxx ETF Trust (the “Trust”) with initial capital so as to enable the public offering of shares of the Trust, Xxxxxxx Asset Management, LP (the “Investment Adviser”) hereby subscribes to purchase from the Trust 1,000 Shares of Xxxxxxx® Energy & MLP ETF, 1,000 Shares of Xxxxxxx® Utility & MLP ETF, 1,000 Shares of Xxxxxxx® Transportation & MLP ETF and 1,000 Shares of Xxxxxxx® Energy Supply Chain & MLP ETF (the “Shares”) at net asset value of $25.00 per Share for a total of $100,000.
The Investment Adviser represents and warrants that such purchase of Shares is being made for investment purposes and not with a view towards the distribution thereof; and without any present intention of selling such Shares.
Very truly yours,
XXXXXXX ASSET MANAGEMENT, LP
By: /s/ Xxxxx X. Xxxxx
Xxxxx X. Xxxxx
Managing Partner
|
Accepted:
|
|
|
XXXXXXX ETF TRUST
|
|
|
By:
|
/s/ Xxxxx X. Xxxxxxxxx
|
|
Xxxxx X. Xxxxxxxxx
|
|
|
Secretary
|
|
|
September 25, 2018
|
|
