Common use of Authorized Representations Clause in Contracts

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies with applicable law and regulationsmaterials have been approved by the Fund prior to their use.

Authorized Representations. The Distributor is not authorized by the Trust or any Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Trust or any Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the FundTrust and the Managing Owner, provided such sales literature is approved in accordance with Paragraph 8 below and complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund with respect to the Shares filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies with applicable law and regulationsmaterials have been approved by the Fund prior to their use.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the FundFund and the Managing Owner, provided such sales literature is approved in accordance with Paragraph 8 below and complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus prospectus(es) and statement statement(s) of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund with respect to the Shares filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material material, as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies with applicable law and regulationsmaterials have been approved by the Fund prior to their use.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund Trust to give on behalf of any Fund any information or to make any representations in connection with the sale of Shares other than those the information and representations contained in such Fund's registration statement filed with the SEC under the 1933 Act and/or the 1940 Act, covering Shares, as such registration statement or such Fund's prospectus and or statement of additional informationinformation may be amended or supplemented from time to time, or contained in shareholder reports or other material that may be prepared by or on behalf of the such Fund or approved by such Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus prospectuses and statement statements of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Trust or any Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Trust or any Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the FundTrust and the Managing Owner, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund filed with the SEC or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies with applicable law and regulationsmaterials have been approved by the Fund prior to their use.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulationsregulation.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or and prospectus and statement of additional information, the Fund filed with the SEC or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies and materials have been prepared in accordance with applicable law rules and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund filed with the SEC or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies and materials have been prepared in accordance with applicable law rules and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulationsregulations and is approved by the Fund prior to use.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material material, as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies and materials have been prepared in accordance with applicable law rules and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund filed with the SEC or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate appropriate, PROVIDED that such literature and materials have been prepared in consultation with the Fund, provided such sales literature complies accordance with applicable law rules and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or and prospectus and statement of additional information, the Fund filed with the SEC or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies and materials have been prepared in accordance with applicable law rules and regulations; and provided further, that the Fund has previously approved such material.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus Registration Statement, the Prospectus and statement the Statement of additional informationAdditional Information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided that such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus prospectus(es) and statement statement(s) of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or statement, prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute or supervise the preparation and distribution of sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or and prospectus and statement of additional information, the Fund filed with the SEC or contained in shareholder investor reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies and materials have been prepared in accordance with applicable law rules and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulationsregulation.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate appropriate, provided that such literature and materials have been prepared in consultation accordance with applicable rules and regulations, and shall have been approved by the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent any information of to make any representations in connection with the foregoing, sale of Shares other than the Distributor may prepare information and distribute sales literature or other material as it may deem appropriate representations contained in consultation a registration statement of prospectus filed with the Fund, provided such sales literature complies with applicable law Securities and regulations.Exchange Commission ("SEC") under the

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional informationinfonnation, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement Fund's Registration Statement or prospectus and statement of additional informationProspectus, as these may be amended from time to time, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may will not prepare and distribute any sales literature or other material as it may deem appropriate in consultation with respect to the Fund, provided such sales literature complies with Fund that does not conform to applicable requirements of federal and state law and regulationsregulatory authorities.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement Fund’s Registration Statement or prospectus and statement of additional informationProspectus, as these may be amended from time to time, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may will not prepare and distribute any sales literature or other material as it may deem appropriate in consultation with respect to the Fund, provided such sales literature complies with Fund that does not conform to applicable requirements of federal and state law and regulationsregulatory authorities.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, . the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or and prospectus and statement of additional information, the Fund filed with the SEC or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies with applicable law and regulationsmaterials have been approved by the Fund prior to their use.

Authorized Representations. The Distributor is not -------------------------- authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or and prospectus and statement of additional information, the Fund filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies and materials have been prepared in accordance with applicable law rules and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in the shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulationsregulation.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulationsregulation.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus prospectuses and statement statements of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulationsregulation.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus prospectuses and statement statements of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the fund with respect to the Shares filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material material, as it may deem appropriate in consultation with the Fundappropriate, provided that such sales literature complies with applicable law and regulationsmaterials have been approved by the Fund prior to their use.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the appropriate registration statement statements or prospectus Prospectuses filed with the Securities and statement of additional informationExchange Commission under the 1933 Act (as these registration statements and Prospectuses may be amended from time to time), or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, This shall not be construed to prevent the Distributor may prepare from preparing and distribute distributing sales literature or other material as it may be deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulationsappropriate.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the registration statement or prospectus and statement of additional informationOffering Memorandum, or contained in shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with with, and subject to the prior approval of, the Fund, provided such sales literature complies with applicable law and regulations.

Authorized Representations. The Distributor is not authorized by the Fund to give any information or to make any representations other than those contained in the current registration statement or prospectus statements and statement prospectuses of additional information, the Fund filed with the SEC or contained in shareholder Shareholder reports or other material that may be prepared by or on behalf of the Fund for the Distributor’s 's use. Consistent with the foregoing, the The Distributor may prepare and distribute sales literature or and other material as it may deem appropriate in consultation with the Fund, provided such sales literature complies with applicable law and regulationsappropriate.