Redemption of Creation Units Clause Samples

Redemption of Creation Units. (a) The following procedures, except to the extent otherwise provided in the Participant Agreement for each Authorized Participant, which may be amended from time to time in accordance with the provisions of such Participant Agreement (and any such amendment will not constitute an amendment of this Trust Agreement), apply to the redemption of Creation Units. (i) On any Business Day, an Authorized Participant may submit a request to redeem one or more Creation Units standing to the credit of the Authorized Participant on the records of DTC in kind (such request, a “Redemption Order”) in the manner provided in the Participant Agreement. Redemption Orders will be processed only from Authorized Participants with respect to which a Participant Agreement is in full force and effect. (ii) Any Redemption Order is subject to rejection by the Sponsor at its sole discretion as set forth in the Participant Agreement. (iii) After accepting an Authorized Participant’s Redemption Order, the Sponsor (or its delegate or agent) will deliver (or cause to be delivered) the redemption distribution to fill an Authorized Participant’s Redemption Order in the manner provided in the Participant Agreement, but only if the Sponsor (or its delegate or agent) has received (A) the non-refundable transaction or other fees due for such Redemption Order, unless waived by the Sponsor in its sole discretion, and (B) notice that the Fund’s account at DTC has been credited with all Shares comprising the Creation Units being tendered for redemption. (b) The procedures set forth in this Section 2.10 may be changed from time-to-time at the sole discretion of the Sponsor.

Redemption of Creation Units. (a) Subject to the Sponsor establishing alternative procedures from time to time in its sole discretion, the procedures relating to the redemption of Creation Units are fully set forth in the Authorized Participant Agreement and Authorized Participant Procedures Handbook for each Fund (which may be amended from time to time in accordance with the provisions of the Authorized Participant Agreement and any such amendment will not constitute an amendment of this Trust Agreement), and will govern the Trust with respect to redemption of Creation Units. (b) Subject to deduction of any tax or other governmental charges due thereon, and subject to the Sponsor’s establishment of alternative procedures the redemption distribution shall consist of cash or other assets to the extent permitted in the Registration Statement or an Authorized Participant Agreement in an amount equal to the Net Asset Value per Creation Unit of a Fund multiplied by the number of Creation Unit(s) of such Fund requested in the Authorized Participant’s redemption order (“Redemption Order”) as of the time of the calculation of such Fund’s Net Asset Value per Share on the redemption order date. (c) The Sponsor may, in its sole discretion, suspend the right of redemption, or postpone any redemption settlement date.

Redemption of Creation Units. 44 Section 5.01 Redemption of Nasdaq-100 Shares in Creation Unit Size Aggregations..............................................................44

Redemption of Creation Units. (a) Redemptions of Shares shall be effected only in integral numbers of Creation Units. The procedures relating to the redemption of Creation Units, including the processing, acceptance and/or rejection of any Redemption Orders, are set forth in this Agreement, and shall govern the Trust with respect to redemption of Creation Units. (b) Subject to deduction of any tax or other governmental charges due thereon, any redemption distribution shall consist of Copper and shall be made in accordance with this Agreement.

Redemption of Creation Units