Common use of Premise Clause in Contracts

Premise. Bank, in its capacity as custodian of the Trust has been engaged to provide U.S. domestic custody services to the Trust and its various portfolios pursuant to the terms of a Domestic Custody Agreement dated as January 5, 2011 (the “Custody Agreement”). The Trust intends to issue in respect of its portfolios listed on Exhibit A hereto (each a “Fund” or an “ETF Series”) an exchange-traded class of shares known as "ETF1 Shares” for each ETF Series. The ETF Shares shall be issued in bundles called “Creation Units.” The Trust, on behalf of the ETF Series, shall issue and redeem ETF Shares of each ETF Series only in Creation Units principally in kind for portfolio securities of the particular ETF Series (“Deposit Securities”), as more fully described in the current prospectus and statement of additional information of the Trust, included in its registration statement on Form N-1A, Securities Act File No. 333-146327, Investment Company Act File No. 811-22128 (“Registration Statement”) and as authorized under the Order of Exemption dated November 27, 2007 of the Securities and Exchange Commission, Investment Company Act Release No. 28066 (“Order of Exemption”). Only brokers or dealers that are “Authorized Participants” and that have entered into an Authorized Participant Agreement with the Distributor, acting on behalf of the Trust, shall be authorized to issue and redeem ETF Shares in Creation Units from the Trust. The Trust wishes to engage Bank to perform certain services on behalf of the Trust with respect to the issuance and redemption of ETF Shares, as the Trust’s agent, namely: to provide transfer agent services for ETF Shares of each ETF Series; to act as Index Receipt Agent (as such term is defined in the rules of the National Securities Clearing Corporation) with respect to the settlement of trade orders with Authorized Participants; and to provide custody services under the terms of the Custody Agreement, as supplemented hereby, for the settlement of issuances of Creation Units against Deposit Securities that shall be delivered by Authorized Participants in exchange for ETF Shares and the redemption of ETF Shares in Creation Unit size against the delivery of Redemption Securities of each ETF Series.

Premise. Bank, in its capacity as custodian of the Trust has been engaged to provide U.S. domestic custody services to the Trust and its various portfolios pursuant to the terms of a Domestic Custody Agreement dated as January 5of February __, 2011 2007 (the “Custody Agreement”). The Trust Trust, which is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), intends to issue in with respect of to its portfolios listed on Exhibit A hereto (each a “Fund” or an “ETF Series”) an exchange-traded class of shares known as "ETF1 ETF Shares.” for each ETF Series. The ETF Shares shall be issued in bundles called “Creation Units.” (hereinafter defined). The Trust, on behalf of the ETF Series, shall issue and redeem ETF Shares of each ETF Series only in Creation Units principally in kind for portfolio securities of the particular ETF Series (“Deposit Securities”), as more fully described in the current prospectus and statement of additional information of the Trust, included in its registration statement on Form N-1A, Securities Act File No. 333No811-146327, Investment Company Act File No. 811-22128 (“Registration Statement”) 21827; and as authorized under the Order of Exemption dated November 27January 18, 2007 of the Securities and Exchange Commission, Investment Company Act Release No. 28066 (“Order of Exemption”)27664; File No. 812-13224. Only brokers or dealers that are “Authorized Participants” (hereinafter defined) and that have entered into an Authorized Participant Agreement substantially in the form of Exhibit B hereto with the DistributorDistributor (hereinafter defined), acting on behalf of the Trust, shall be authorized to issue purchase and redeem ETF Shares in Creation Units from the Trust. The Trust wishes to engage Bank to perform certain services on behalf of the Trust with respect to the issuance purchase and redemption of ETF Shares, as the Trust’s agent, namely: to provide transfer agent services for ETF Shares of each ETF Series; to act as Index Receipt Agent (as such term is defined in the rules of the National Securities Clearing Corporation) with respect to the settlement of trade orders with Authorized Participants; and to provide custody services under the terms of the Custody Agreement, as supplemented hereby, for the settlement of issuances purchases of Creation Units against Deposit Securities that shall be delivered by Authorized Participants in exchange for ETF Shares and the redemption of ETF Shares in Creation Unit size Units against the delivery of Redemption Securities (hereinafter defined) of each ETF Series.

Premise. Bank, in its capacity as custodian of the Trust has been engaged to provide U.S. domestic custody services to the Trust and its various portfolios pursuant to the terms of a Domestic Custody Agreement dated as January 5__________, 2011 2010 (the “Custody Agreement”). The Trust intends to issue in respect of its portfolios listed on Exhibit A hereto (each a “Fund” or an “ETF Series”) an exchange-traded class of shares known as "ETF1 Shares” for each ETF Series. The ETF Shares shall be issued in bundles called “Creation Units.” The Trust, on behalf of the ETF Series, shall issue and redeem ETF Shares of each ETF Series only in Creation Units principally in kind for portfolio securities of the particular ETF Series (“Deposit Securities”), as more fully described in the current prospectus and statement of additional information of the Trust, included in its registration statement on Form N-1A, Securities Act File No. 333-146327, Investment Company Act File No. 811-22128 (“Registration Statement”) and as authorized under the Order of Exemption dated November 27, 2007 of the Securities and Exchange Commission, Investment Company Act Release No. 28066 (“Order of Exemption”). Only brokers or dealers that are “Authorized Participants” and that have entered into an Authorized Participant Agreement with the Distributor, acting on behalf of the Trust, shall be authorized to issue and redeem ETF Shares in Creation Units from the Trust. The Trust wishes to engage Bank to perform certain services on behalf of the Trust with respect to the issuance and redemption of ETF Shares, as the Trust’s agent, namely: to provide transfer agent services for ETF Shares of each ETF Series; to act as Index Receipt Agent (as such term is defined in the rules of the National Securities Clearing Corporation) with respect to the settlement of trade orders with Authorized Participants; and to provide custody services under the terms of the Custody Agreement, as supplemented hereby, for the settlement of issuances of Creation Units against Deposit Securities that shall be delivered by Authorized Participants in exchange for ETF Shares and the redemption of ETF Shares in Creation Unit size against the delivery of Redemption Securities of each ETF Series.

Premise. Bank▇.▇. ▇▇▇▇▇▇, in its capacity as custodian of the Trust has been engaged to provide U.S. domestic custody services to the Trust and its various portfolios pursuant to the terms of a Domestic Custody Agreement dated as January 526th 2022, 2011 (the “Custody Agreement”). The Trust intends to issue in respect of its portfolios listed on Exhibit A hereto (each a “Fund” or an “ETF Series”) the Funds an exchange-traded class of shares known as "ETF1 “ETF Shares” for each ETF Series. The ETF Shares shall be issued created in bundles called “Creation Units.” The Trust, on behalf of the ETF Series, shall issue create and redeem ETF Shares of each ETF Series only in Creation Units principally in kind for portfolio securities of the particular ETF Series (“Deposit Securities”), as more fully described in the current prospectus and statement of additional information of the Trust, included in its registration statement on Form N-1A, Securities Act File No. 333-146327, Investment Company Act File No. 811-22128 (“Registration Statement”) ; and as authorized under Rule 6c-11 of the Order of Exemption dated November 27, 2007 of 1940 Act or exemptive orders granted by the Securities and Exchange Commission, Investment Company Act Release No. 28066 (“Order of Exemption”). Only brokers or dealers that are “Authorized Participants” Participants and that have entered into an Authorized Participant Agreement with the Distributor, acting on behalf of the Trust, shall be authorized to issue create and redeem ETF Shares in Creation Units from the TrustTrust either directly, or, in the case of semi-transparent ETF Series, through a Authorized Participant Representative (“APR”). The Trust wishes to engage Bank ▇.▇. ▇▇▇▇▇▇ to perform certain services on behalf of the Trust with respect to the issuance creation and redemption of ETF Shares, as the Trust’s agent, namely: to provide transfer agent services for ETF Shares of each ETF Series; to act as Index Receipt Agent (as such term is defined in the rules of the National Securities Clearing CorporationNSCC) with respect to the settlement of trade orders with Authorized Participants; to provide order taking services for creations and redemptions of Creation Units; and to provide custody services under the terms of the Custody Agreement, as supplemented hereby, for the settlement of issuances of Creation Units against Deposit Securities and/or cash that shall be delivered by Authorized Participants in exchange for ETF Shares and the redemption of ETF Shares in Creation Unit size against the delivery of Redemption Securities and/or cash of each ETF Series.