Common use of Amended and Restated Declaration of Trust Clause in Contracts

Amended and Restated Declaration of Trust. The Sponsor and the Trustee shall enter into an amended and restated declaration of trust and trust agreement satisfactory to each such party to provide for the contemplated operation of the Trust created hereby and the issuance by the Trust of the Shares referred to therein. Prior to the execution and delivery of such amended and restated declaration of trust and trust agreement: (i) the Trustee shall not have any duty or obligation hereunder or with respect to the trust estate, except accepting legal process served on the Trust in the State of Delaware and the execution of any certificates required to be filed with the Delaware Secretary of State which the Trustee is required to execute under Section 3811 of the Delaware Trust Statute, (ii) the Sponsor shall take or cause to be taken any action as may be necessary to obtain prior to such execution and delivery any licenses, consents or approvals required by applicable law or otherwise, and (iii) the Sponsor shall be the sole beneficial owner of the Trust. Notwithstanding the foregoing, the Trustee may take all actions which the Sponsor deems necessary, convenient or incidental to effect the transactions contemplated herein and which the Sponsor expressly directs in writing.