Common use of Creation Units Clause in Contracts

Creation Units. The Shares of any Series offered by the Company may only be directly purchased from or redeemed to the Distributor in Creation Units. The number of Shares of a Series constituting a Creation Unit will be stated in the Prospectus of the applicable Series. The Participant is authorized to purchase and redeem Creation Units of such Series as determined in the discretion of the Company and/or the Distributor, subject to applicable Law and the terms hereof. The Participant acknowledges and agrees that (i) the Company and/or the Distributor from time to time may change or adjust the number of Series available to the Participant in the Company’s or the Distributor’s discretion; provided, however, that the Distributor will make reasonable efforts to provide notice to the Participant prior to any such adjustment to the Series available to Participant, and (ii) the Series that the Participant is authorized to purchase or redeem Creation Units of may be different than the Series available to other participants executing an Authorized Participant Agreement similar to this Agreement. The Participant may obtain a list of authorized Series from the Distributor upon request. Neither the Distributor nor the Company will unreasonably reduce the number of Series available to the Participant.

Creation Units. The Shares of any Series offered by the Company Trust may only be directly purchased from or redeemed to the Distributor in Creation Units. The number of Shares of a Series constituting a Creation Unit will be stated in the Prospectus of the applicable Series. The Participant is authorized to purchase and redeem Creation Units of such Series as determined in the discretion of the Company Trust and/or the Distributor, subject to applicable Law law and the terms hereof. The Participant acknowledges and agrees that (i) the Company Trust and/or the Distributor from time to time may change or adjust the number of Series available to the Participant in the CompanyTrust’s or the Distributor’s discretion; provided, however, that the Distributor will make reasonable efforts to provide notice to the Participant prior to any such adjustment to the Series available to the Participant, and (ii) the Series that the Participant is authorized to purchase or redeem Creation Units of may be different than the Series available to other participants executing an Authorized Participant Agreement authorized participant agreement similar to this Agreement. The Participant may obtain a list of authorized Series from the Distributor upon request. Neither the Distributor nor the Company Trust will unreasonably reduce the number of Series available to the Participant.

Creation Units. The Shares of any Series offered by the Company Trust may only be directly purchased from or redeemed to the Distributor in Creation Units. The number of Shares of a Series constituting a Creation Unit will be stated in the Prospectus of the applicable Series. The Participant is authorized to purchase and redeem Creation Units of such Series as determined in the discretion of the Company Trust and/or the Distributor, subject to applicable Law and the terms hereof. The Participant acknowledges and agrees that (i) the Company Trust and/or the Distributor from time to time may change or adjust the number of Series available to the Participant in the CompanyTrust’s or the Distributor’s discretion; provided, however, that the Distributor will make reasonable efforts to provide notice to the Participant prior to any such adjustment to the Series available to Participant, and (ii) the Series that the Participant is authorized to purchase or redeem Creation Units of may be different than the Series available to other participants executing an Authorized Participant Agreement authorized participant agreement similar to this Agreement. The Participant may obtain a list of authorized Series from the Distributor upon request. Neither the Distributor nor the Company Trust will unreasonably reduce the number of Series available to the Participant.