Common use of Limitations on Trustees' Powers Clause in Contracts

Limitations on Trustees' Powers. The Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the Shares, the Contract, the Treasury Securities, any additional U.S. Government Securities delivered to the Trust in connection with an extension of the Exchange Date pursuant to Section 2.3(e) of the Contract, the Temporary Investments contemplated by Section 3.5 and, in the event of a Reorganization Event or a Spin-Off Distribution, Marketable Securities or any other property received in such event; (b) to dispose of the Contract prior to the Exchange Date; (c) to issue any securities or instruments except for the Securities, or to issue any Securities other than the Securities sold to the Sponsor and the Securities to be sold pursuant to the Underwriting Agreement and until such Securities have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans (other than the purchase of the Treasury Securities pursuant to Section 2.3); or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.

Limitations on Trustees' Powers. The Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the Shares, the Contract, the Treasury Securities, any additional U.S. Government Securities delivered to the Trust in connection with an extension of the Exchange Date pursuant to Section 2.3(e) of the Contract, the Temporary Investments contemplated by Section 3.5 hereof and, in the event of a Reorganization Event or a Spin-Off DistributionEvent, Marketable Securities or any other property received in such eventSecurities; (b) to dispose of the Contract prior to the Exchange Date; (c) to issue any securities or instruments except for the SecuritiesTIMES, or to issue any Securities TIMES other than the Securities TIMES sold to the Sponsor and the Securities TIMES to be sold pursuant to the Underwriting Agreement and until such Securities TIMES have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans (other than the purchase of the Treasury Securities pursuant to Section 2.3)loans; or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.

Limitations on Trustees' Powers. The Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the SharesStock, the Contract, the Treasury Securities, any additional U.S. Government Securities delivered to the Trust in connection with an extension of the Exchange Date pursuant to Section 2.3(e) of the Contract, the Temporary Investments contemplated contem plated by Section 3.5 and, in the event of a Reorganization Event or a Spin-Off Distribution, Marketable Securities or any other property received in such event; (b) to dispose of the Contract prior to the Exchange Date; (c) to issue any securities or instruments except for the Securities, or to issue any Securities other than the Securities sold to the Sponsor and the Securities to be sold pursuant to the Underwriting Agreement and until such Securities have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans (other than the purchase of the Treasury Securities pursuant to Section 2.3); or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.

Limitations on Trustees' Powers. The Trustees are not permitted: (a) to purchase or hold any securities or instruments except for the Shares, the ContractContracts, the Treasury Securities, any additional U.S. Government Securities delivered to the Trust in connection with an extension of the Exchange Date pursuant to Section 2.3(e) of the Contract, the Temporary Investments contemplated by Section 3.5 hereof and, in the event of a Reorganization Event or a Spin-Off DistributionEvent, Marketable Securities (it being understood that, except as provided in Sections 2.3 and 3.5 hereof, the Trust shall distribute any cash received by it to Holders of Securities as soon as reasonably practicable following such receipt, without reinvestment of such cash in any securities or other investments of any other property received in such eventkind); (b) to dispose of the Contract Contracts prior to the Exchange Date; (c) to issue any securities or instruments except for the Securities, or to issue any Securities other than the Securities sold to the Sponsor and the Securities to be sold pursuant to the Underwriting Agreement and until such Securities have been so purchased and paid for in full; (d) to make short sales or purchases on margin; (e) to write put or call options; (f) to borrow money; (g) to underwrite securities; (h) to purchase or sell real estate, commodities or commodities contracts; (i) to purchase restricted securities; (j) to make loans (other than the purchase of the Treasury Securities pursuant to Section 2.3)loans; or (k) to take any action, or direct or permit the Administrator, the Paying Agent or the Custodian to take any action, that would vary the investment of the Holders within the meaning of Treasury Regulation Section 301.7701-4(c), or otherwise take any action or direct or permit any action to be taken that would or could cause the Trust not to be a "grantor trust" under the Code.