Common use of Rights and Duties Clause in Contracts

Rights and Duties. The Shareholders shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders shall have the right to obtain from the Sponsor information regarding all things affecting the Trust, provided that such is for a purpose reasonably related to the Shareholders’ interest as a beneficial owner of the Trust. (b) The Shareholders shall receive the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the Shareholders’ redemption rights set forth in Article IX hereof, Shareholders shall have the right to demand the return of their capital account only upon the dissolution and winding up of the Trust and only to the extent of funds available therefor. In no event shall a Shareholder be entitled to demand or receive property other than cash. No Shareholder shall have priority over any other Shareholder either as to the return of capital or as to profits, losses or distributions. No Shareholder shall have the right to bring an action for partition against the Trust. (d) Except as required under applicable U.S. federal law or under the rules or regulations of an Exchange, the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions of the Trust or transfers to or domestication in any jurisdiction by the Trust or any other matters that under the Delaware Trust Statute default voting rights are provided to holders of beneficial interests). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf of the Trust unless Shareholders owning no less than a majority of the then outstanding Shares join in the bringing of such action. Except as set forth above, the Shareholders shall have no voting or other rights with respect to the Trust.

Rights and Duties. The Shareholders shall have the following rights, powers, privilegesduties, duties obligations, liabilities and liabilitiesresponsibilities: (a) The Shareholders shall have the right to obtain from the Sponsor information regarding all things affecting the TrustTrust or the applicable Fund, provided that such is for a purpose reasonably related to the Shareholders’ Shareholder’s interest as a beneficial owner Beneficial Owner, including, without limitation, the list of Authorized Participants contemplated by Section 8.2 hereof. Except as otherwise required by law, the TrustShareholders, however, shall not have any right to obtain any tax return filed by, or with respect to, the Trust or any Fund. (b) The Shareholders shall receive the share of the distributions provided for in this Trust Agreement and any applicable Series Supplement in the manner and at the times provided for in this Trust Agreement. (c) Except for the Shareholders’ redemption rights set forth in Article IX hereof, Shareholders shall have the right to demand the return redemption of their capital account Shares only upon the dissolution and winding up of the Trust and only to applicable Fund or the extent of funds available thereforTrust. In no event shall a Shareholder be entitled to demand or receive property other than cashcash in connection therewith. No Except as otherwise provided by the Formation Instrument with respect to a Fund, no Shareholder shall have priority over any other Shareholder either as to the return of capital or as to profits, losses or distributions. No Shareholder shall have the right to bring an action for partition against the TrustTrust or a Fund. (d) Except as required under applicable U.S. federal law or under the rules or regulations of an the Exchange, the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions of the Trust or a Fund or transfers to or domestication in any jurisdiction by the Trust or any other matters that for which under the Delaware Trust Statute default DSTA voting rights are provided to holders of beneficial interests). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable and so authorize in its sole and absolute discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf of the Trust or any Fund unless Shareholders owning no less than a majority of the then outstanding Shares of the applicable Fund or Funds, join in the bringing of such action. A Shareholder of Shares of a particular Fund shall not be entitled to participate in a derivative or class action lawsuit on behalf of any other Fund, or on behalf of the Shareholders of any other Fund. (f) Except as set forth above, the Shareholders shall have no voting or other rights or powers with respect to the TrustTrust or any Fund.

Rights and Duties. The Shareholders Limited Owners shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders Limited Owners shall have the right to obtain from the Sponsor information regarding of all things affecting the TrustTrust (or any Series thereof in which it holds an Interest), provided that such is for a purpose reasonably related to the Shareholders’ Limited Owner’s interest as a beneficial owner of the Trust, including, without limitation, such reports as are set forth in Article IX and such information as is set forth in Section 4.3(l) hereof. In the event that the Managing Owner neglects or refuses to produce or mail to a Limited Owner a copy of the information set forth in Section 4.3(l) hereof, the Managing Owner shall be liable to such Limited Owner for the costs, including reasonable attorney’s fees, incurred by such Limited Owner to compel the production of such information, and for any actual damages suffered by such Limited Owner as a result of such refusal or neglect; provided, however, it shall be a defense of the Managing Owner that the actual purpose of the Limited Owner’s request for such information was not reasonably related to the Limited Owner’s interest as a beneficial owner in the Trust (e.g., to secure such information in order to sell it, or to use the same for a commercial purpose unrelated to the participation of such Limited Owner in the Trust). The foregoing rights are in addition to, and do not limit, other remedies available to Limited Owners under federal or state law. (b) The Shareholders Limited Owners shall receive from the Series in which they hold Interests, the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the ShareholdersLimited Owners’ redemption rights set forth in Article IX VII hereof or upon a mandatory redemption effected by the Managing Owner pursuant to Section 4.2(h) hereof, Shareholders Limited Owners shall have the right to demand the return of their capital account only upon the dissolution and winding up of the Trust Series in which they hold Interests and only to the extent of funds available therefor. In no event shall a Shareholder Limited Owner be entitled to demand or receive property other than cash. No Shareholder Except with respect to Series or class differences, no Limited Owner shall have priority over any other Shareholder Limited Owner either as to the return of capital or as to profits, losses or distributions. No Shareholder Limited Owner shall have the right to bring an action for partition against the Trust. (d) Except Limited Owners holding Interests representing at least a majority (over 50%) in Net Asset Value of each affected Series (not including Interests held by the Managing Owner and its Affiliates, including the commodity broker) voting separately as required under applicable U.S. federal law or under a class may vote to (i) continue the rules or regulations of an ExchangeSeries as provided in Section 13.1(b), (ii) approve the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions voluntary withdrawal of the Trust Managing Owner and elect a successor Managing Owner as provided in Section 4.10, (iii) remove the Managing Owner on reasonable prior written notice to the Managing Owner, (iv) elect and appoint one or transfers more additional Managing Owners, or consent to such matters as are set forth in Section 5.2(b), (v) approve a material change in the trading policies of a Series, or domestication the brokerage fees paid by a Series, as set forth in the Prospectus, which change shall not be effective without the prior written approval of such majority, (vi) approve the termination of any jurisdiction by agreement entered into between the Trust and the Managing Owner or any other matters that under the Delaware Trust Statute default voting rights are provided to holders of beneficial interests). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf Affiliate of the Managing Owner for any reason, without penalty, (vii) approve amendments to this Trust unless Shareholders owning no less than a majority of Agreement as set forth in Section 11.1 hereof, and (viii) terminate the then outstanding Shares join Series as provided in Section 13.1(g), and in the bringing case of such action(iv), (v) and (vi) in each instance on 60 days’ prior written notice. Except as set forth above, the Shareholders Limited Owners shall have no voting or other rights with respect to the Trust. Prior to the exercise by the Limited Owners of the rights set forth in Section 8.2(d), the Trust will, if practicable, provide the Limited Owners with an opinion of independent legal counsel in each state where the Trust may be deemed to be conducting its business with respect to whether or not such exercise would constitute such participation in the control of the Trust business as would adversely affect the Limited Owners limited liability under the laws of such state.

Rights and Duties. The Shareholders Limited Owners shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders Limited Owners shall have the right to obtain from the Sponsor information regarding of all things affecting the TrustTrust (or any Series thereof in which it holds a Interest), provided that such is for a purpose reasonably related to the Shareholders’ Limited Owner’s interest as a beneficial owner of the Trust, including, without limitation, such reports as are set forth in Article IX and such information as is set forth in Section 4.3(k) hereof. In the event that the Managing Owner neglects or refuses to produce or mail to a Limited Owner a copy of the information set forth in Section 4.3(k) hereof, the Managing Owner shall be liable to such Limited Owner for the costs, including reasonable attorney’s fees, incurred by such Limited Owner to compel the production of such information, and for any actual damages suffered by such Limited Owner as a result of such refusal or neglect; provided, however, it shall be a defense of the Managing Owner that the actual purpose of the Limited Owner’s request for such information was not reasonably related to the Limited Owner’s interest as a beneficial owner in the Trust (e.g., to secure such information in order to sell it, or to use the same for a commercial purpose unrelated to the participation of such Limited Owner in the Trust). The foregoing rights are in addition to, and do not limit, other remedies available to Limited Owners under federal or state law. (b) The Shareholders Limited Owners shall receive from the assets of the Series in which they hold Interests, the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the ShareholdersLimited Owners’ redemption rights set forth in Article IX VII hereof or upon a mandatory redemption effected by the Managing Owner pursuant to Section 4.2(g) hereof, Shareholders Limited Owners shall have the right to demand the return of their capital account only upon the dissolution and winding up of the Trust Series in which they hold Interests and only to the extent of funds available therefor. In no event shall a Shareholder Limited Owner be entitled to demand or receive property other than cash. No Shareholder Except with respect to Series, Class or Sub-Class differences, no Limited Owner shall have priority over any other Shareholder Limited Owner either as to the return of capital or as to profits, losses or distributions. No Shareholder Limited Owner shall have the right to bring an action for partition against the Trust. (d) Except Limited Owners holding Interests representing in excess of (50%) in Net Asset Value of each affected Series (not including Interests held by the Managing Owner and its Affiliates, including the commodity broker) voting separately as required under applicable U.S. federal law or under a class, may approve amendments to this Trust Agreement as set forth in Section 11.1 hereof. Additionally, Limited Owners holding Interests representing over (75%) in Net Asset Value of each affected Series (not including Interests held by the rules or regulations Managing Owner and its Affiliates, including the commodity broker) voting separately as a class may vote to continue the Trust as provided in Section 13.1(b) and terminate the Series as provided in Section 13.1(g). Further, Limited Owners holding Interests representing at least 80% in Net Asset Value of an Exchangeeach affected Series (not including Interests held by the Managing Owner and its Affiliates, including the Shareholders shall have no commodity broker) voting rights hereunder separately as a class may vote to (including with respect to mergers, consolidations or conversions i) approve the voluntary withdrawal of the Trust or transfers to or domestication Managing Owner and elect a successor Managing Owner as provided in Section 4.10, (ii) approve a material change in the trading policies of a Series, as set forth in the Registration Statement, which change shall not be effective without the prior written approval of such majority, (iii) approve the termination of any jurisdiction by agreement entered into between the Trust and the Managing Owner or any other matters that under the Delaware Trust Statute default voting rights are provided to holders of beneficial interests). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf Affiliate of the Trust unless Shareholders owning no less than a majority Managing Owner for any reason, without penalty, (iv) remove the Managing Owner of the then outstanding Shares join such Series as provided in Section 4.10 and (v) elect one or more additional Managing Owners and in the bringing case of such action(iii) and (v) in each instance sixty (60) days’ prior written notice. Except as set forth above, the Shareholders Limited Owners shall have no voting or other rights with respect to the Trust. Prior to the exercise by the Limited Owners of the rights set forth in Section 8.2(d), the Trust will, if practicable, provide the Limited Owners with an opinion of independent legal counsel in each state where the Trust may be deemed to be conducting its business with respect to whether or not such exercise would constitute such participation in the control of the Trust business as would adversely affect the Limited Owners limited liability under the laws of such state.

Rights and Duties. The Shareholders Limited Owners shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders Limited Owners shall have the right to obtain from the Sponsor information regarding of all things affecting the TrustTrust (or any Series thereof in which it holds an Interest), provided that such is for a purpose reasonably related to the Shareholders’ Limited Owner’s interest as a beneficial owner of the Trust, including, without limitation, such reports as are set forth in Article IX and such information as is set forth in Section 4.3(l) hereof. In the event that the Managing Owner neglects or refuses to produce or mail to a Limited Owner a copy of the information set forth in Section 4.3(l) hereof, the Managing Owner shall be liable to such Limited Owner for the costs, including reasonable attorney’s fees, incurred by such Limited Owner to compel the production of such information, and for any actual damages suffered by such Limited Owner as a result of such refusal or neglect; provided, however, it shall be a defense of the Managing Owner that the actual purpose of the Limited Owner’s request for such information was not reasonably related to the Limited Owner’s interest as a beneficial owner in the Trust (e.g., to secure such information in order to sell it, or to use the same for a commercial purpose unrelated to the participation of such Limited Owner in the Trust). The foregoing rights are in addition to, and do not limit, other remedies available to Limited Owners under federal or state law. (b) The Shareholders Limited Owners shall receive from the Series in which they hold Interests, the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the ShareholdersLimited Owners’ redemption rights set forth in Article IX VII hereof or upon a mandatory redemption effected by the Managing Owner pursuant to Section 4.2(h) hereof, Shareholders Limited Owners shall have the right to demand the return of their capital account only upon the dissolution and winding up of the Trust Series in which they hold Interests and only to the extent of funds available therefor. In no event shall a Shareholder Limited Owner be entitled to demand or receive property other than cash. No Shareholder Except with respect to Series or class differences, no Limited Owner shall have priority over any other Shareholder Limited Owner either as to the return of capital or as to profits, losses or distributions. No Shareholder Limited Owner shall have the right to bring an action for partition against the Trust. (d) Except Limited Owners holding Interests representing at least a majority (over 50%) in Net Asset Value of each affected Series (not including Interests held by the Managing Owner and its Affiliates, including the commodity broker) voting separately as required under applicable U.S. federal law or under a class may vote to (i) continue the rules or regulations of an ExchangeSeries as provided in Section 13.1(b), (ii) approve the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions voluntary withdrawal of the Trust Managing Owner and elect a successor Managing Owner as provided in Section 4.10, (iii) remove the Managing Owner on reasonable prior written notice to the Managing Owner, (iv) elect and appoint one or transfers more additional Managing Owners or consent to such matters as are set forth in Section 5.2(b), (v) approve a material change in the trading policies of a Series, or domestication the brokerage fees paid by a Series, as set forth in the Prospectus, which change shall not be effective without the prior written approval of such majority, (vi) approve the termination of any jurisdiction by agreement entered into between the Trust and the Managing Owner or any other matters that under the Delaware Trust Statute default voting rights are provided to holders of beneficial interests). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf Affiliate of the Managing Owner for any reason, without penalty, (vii) approve amendments to this Trust unless Shareholders owning no less than a majority of Agreement as set forth in Section 11.1 hereof, and (viii) terminate the then outstanding Shares join Series as provided in Section 13.1(g), and in the bringing case of such action(iv), (v) and (vi) in each instance on sixty (60) days’ prior written notice. Except as set forth above, the Shareholders Limited Owners shall have no voting or other rights with respect to the Trust. Prior to the exercise by the Limited Owners of the rights set forth in Section 8.2(d), the Trust will, if practicable, provide the Limited Owners with an opinion of independent legal counsel in each state where the Trust may be deemed to be conducting its business with respect to whether or not such exercise would constitute such participation in the control of the Trust business as would adversely affect the Limited Owners limited liability under the laws of such state.

Rights and Duties. The Shareholders Limited Owners shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders Limited Owners shall have the right to obtain from the Sponsor information regarding of all things affecting the TrustTrust (or any Series thereof in which it holds an Interest), provided that such is for a purpose reasonably related to the Shareholders’ Limited Owner's interest as a beneficial owner of the Trust, including, without limitation, such reports as are set forth in Article IX and such information as is set forth in Section 4.3(l) hereof. In the event that the Managing Owner neglects or refuses to produce or mail to a Limited Owner a copy of the information set forth in Section 4.3(l) hereof, the Managing Owner shall be liable to such Limited Owner for the costs, including reasonable attorney's fees, incurred by such Limited Owner to compel the production of such information, and for any actual damages suffered by such Limited Owner as a result of such refusal or neglect; provided, however, it shall be a defense of the Managing Owner that the actual purpose of the Limited Owner's request for such information was not reasonably related to the Limited Owner's interest as a beneficial owner in the Trust (e.g., to secure such information in order to sell it, or to use the same for a commercial purpose unrelated to the participation of such Limited Owner in the Trust). The foregoing rights are in addition to, and do not limit, other remedies available to Limited Owners under federal or state law. (b) The Shareholders Limited Owners shall receive from the Series in which they hold Interests, the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the Shareholders’ Limited Owners' redemption rights set forth in Article IX VII hereof or upon a mandatory redemption effected by the Managing Owner pursuant to Section 4.2(h) hereof, Shareholders Limited Owners shall have the right to demand the return of their capital account only upon the dissolution and winding up of the Trust Series in which they hold Interests and only to the extent of funds available therefor. In no event shall a Shareholder Limited Owner be entitled to demand or receive property other than cash. No Shareholder Except with respect to Series or class differences, no Limited Owner shall have priority over any other Shareholder Limited Owner either as to the return of capital or as to profits, losses or distributions. No Shareholder Limited Owner shall have the right to bring an action for partition against the Trust. (d) Except Limited Owners holding Interests representing at least a majority (over 50%) in Net Asset Value of each affected Series (not including Interests held by the Managing Owner and its Affiliates, including the commodity broker) voting separately as required under applicable U.S. federal law or under a class may vote to (i) continue the rules or regulations of an ExchangeSeries as provided in Section 13.1(b), (ii) approve the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions voluntary withdrawal of the Trust Managing Owner and elect a successor Managing Owner as provided in Section 4.10, (iii) remove the Managing Owner on reasonable prior written notice to the Managing Owner, (iv) elect and appoint one or transfers more additional Managing Owners or consent to such matters as are set forth in Section 5.2(b), (v) approve a material change in the trading policies of a Series, or domestication the brokerage fees paid by a Series, as set forth in the Prospectus, which change shall not be effective without the prior written approval of such majority, (vi) approve the termination of any jurisdiction by agreement entered into between the Trust and the Managing Owner or any other matters that under the Delaware Trust Statute default voting rights are provided to holders of beneficial interests). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf Affiliate of the Managing Owner for any reason, without penalty, (vii) approve amendments to this Trust unless Shareholders owning no less than a majority of Agreement as set forth in Section 11.1 hereof, and (viii) terminate the then outstanding Shares join Series as provided in Section 13.1 (g), and in the bringing case of such action(iv), (v) and (vi) in each instance on sixty (60) days' prior written notice. Except as set forth above, the Shareholders Limited Owners shall have no voting or other rights with respect to the Trust. Prior to the exercise by the Limited Owners of the rights set forth in Section 8.2(d), the Trust will, if practicable, provide the Limited Owners with an opinion of independent legal counsel in each state where the Trust may be deemed to be conducting its business with respect to whether or not such exercise would constitute such participation in the control of the Trust business as would adversely affect the Limited Owners limited liability under the laws of such state.

Rights and Duties. The Shareholders shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders shall have the right to obtain from the Sponsor information regarding of all things affecting the TrustTrust or the applicable Fund, provided that such is for a purpose reasonably related to the Shareholders’ Shareholder’s interest as a beneficial owner of the TrustTrust or the applicable Fund, including, without limitation, the list of Authorized Participants contemplated by Section 3.3(a)(i) hereof. (b) The Shareholders shall receive the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the Shareholders’ redemption rights set forth in Article IX hereof, Shareholders shall have the right to demand the return of their capital account only upon the dissolution and winding up of the applicable Fund or the Trust and only to the extent of funds available therefor. In no event shall a Shareholder be entitled to demand or receive property other than cash. No Except as otherwise provided by the instrument establishing a Shareholder’s Series, no Shareholder shall have priority over any other Shareholder either as to the return of capital or as to profits, losses or distributions. No Shareholder shall have the right to bring an action for partition against the TrustTrust or a Fund. (d) Except as required under applicable U.S. federal law or under the rules or regulations of an Exchange, the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions of the Trust or transfers to or domestication in any jurisdiction by the Trust or any other matters that under the Delaware Trust Statute DSTA default voting rights are provided to holders of beneficial interests). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf of the Trust unless Shareholders owning no less than a majority of the then outstanding Shares of the same Series thereof, join in the bringing of such action. A Shareholder of Shares in a particular Series of the Trust shall not be entitled to participate in a derivative or class action lawsuit on behalf of any other Series, as appropriate, or on behalf of the Shareholders in any such other Series of the Trust. Except as set forth above, the Shareholders shall have no voting or other rights with respect to the TrustTrust or any Fund.

Rights and Duties. The Shareholders shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders shall have the right to obtain from the Sponsor information regarding of all things affecting the TrustTrust or the applicable Fund, provided that such is for a purpose reasonably related to the Shareholders’ Shareholder’s interest as a beneficial owner of the TrustTrust or the applicable Fund, including, without limitation, the list of Authorized Participants contemplated by Section 3.4(a)(i) hereof. (b) The Shareholders shall receive the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the Shareholders’ redemption rights set forth in Article IX hereof, Shareholders shall have the right to demand the return of their capital account only upon the dissolution and winding up of the applicable Fund or the Trust and only to the extent of funds available therefor. In no event shall a Shareholder be entitled to demand or receive property other than cash. No Except as otherwise provided by the instrument establishing a Shareholder’s Series or Class, no Shareholder shall have priority over any other Shareholder either as to the return of capital or as to profits, losses or distributions. No Shareholder shall have the right to bring an action for partition against the TrustTrust or a Fund. (d) Except as required under applicable U.S. federal law or under the rules or regulations of an Exchange, the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions of the Trust or transfers to or domestication in any jurisdiction by the Trust or any other matters that under the Delaware Trust Statute DSTA default voting rights are provided to holders of beneficial interests). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf of the Trust unless Shareholders owning no less than a majority of the then outstanding Shares of the same Series or Class thereof, join in the bringing of such action. A Shareholder of Shares in a particular Series or Class of the Trust shall not be entitled to participate in a derivative or class action lawsuit on behalf of any other Series or Class, as appropriate, or on behalf of the Shareholders in any such other Series or Class of the Trust. Except as set forth above, the Shareholders shall have no voting or other rights with respect to the TrustTrust or any Fund.

Rights and Duties. The Shareholders Limited Owners shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders Limited Owners shall have the right to obtain from the Sponsor Managing Owner information regarding on all things affecting the Trust, provided that such is for a purpose reasonably related to the Shareholders’ Limited Owner’s interest as a beneficial owner of the Trust, including, without limitation, such reports as are set forth in Article IX and the list of Participants contemplated by Section 3.2(a)(i). In the event that the Managing Owner neglects or refuses to produce or mail to a Limited Owner a copy of the list of Participants contemplated by Section 3.2(a)(i), the Managing Owner shall be liable to such Limited Owner for the costs, including reasonable attorney’s fees, incurred by such Limited Owner to compel the production of such information, and for any actual damages suffered by such Limited Owner as a result of such refusal or neglect; provided, however, it shall be a defense of the Managing Owner that the actual purpose of the Limited Owner’s request for such information was not reasonably related to the Limited Owner’s interest as a beneficial owner in the Trust (e.g., to secure such information in order to sell it, or to use the same for a commercial purpose unrelated to the participation of such Limited Owner in the Trust). The foregoing rights are in addition to, and do not limit, other remedies available to Limited Owners under U.S. federal or state law. (b) The Shareholders Limited Owners shall receive the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the ShareholdersLimited Owners’ redemption rights set forth in Article IX VII hereof, Shareholders Limited Owners shall have the right to demand the return of their capital account Capital Account only upon the dissolution and winding up of the Trust and only to the extent of funds available therefor. In no event shall a Shareholder Limited Owner be entitled to demand or receive property other than cash. No Shareholder Limited Owner shall have priority over any other Shareholder Limited Owner either as to the return of capital or as to profits, losses or distributions. No Shareholder Limited Owner shall have the right to bring an action for partition against the Trust. (d) Except Limited Owners holding Units representing at least a majority (over 50%) in Net Asset Value (not including Units held by the Managing Owner and its Affiliates) may vote to (i) continue the Trust as required under applicable U.S. federal law provided in Section 13.1(a), (ii) remove the Managing Owner on prior written notice to the Managing Owner, (iii) elect and appoint one or under more additional Managing Owners, (iv) approve a material change in the rules trading policies, as set forth in the Prospectus, which change shall not be effective without the prior written approval of such majority, (v) approve the termination of any agreement entered into between the Trust and the Managing Owner or regulations of an Exchange, the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions any Affiliate of the Managing Owner for any reason, without penalty, on prior written notice to the Managing Owner, (vi) approve amendments to this Trust or transfers to or domestication Agreement as set forth in any jurisdiction by Section 11.1 hereof, and (vii) terminate the Trust or any other matters that under as provided in Section 13.1(e), and in the Delaware Trust Statute default voting rights are provided to holders case of beneficial interests(ii). The Shareholders shall have the right to vote , (iii), (iv), and (v) in each instance on other matters only as the Sponsor may consider desirable and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders10 days’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholdersprior written notice. (e) No action may be brought by a Shareholder on behalf of the Trust unless Shareholders owning no less than Certain K-1 Unitholders representing at least a majority of (over 50%) in Net Asset Value (not including Units held by the then outstanding Shares join Managing Owner and its Affiliates) may vote to (i) remove the Tax Agent on prior written notice to the Managing Owner, and (ii) designate a replacement Tax Agent on prior written notice to the Managing Owner, in the bringing of such actioneach instance on 10 days’ prior written notice. Except as set forth above, the Shareholders Limited Owners shall have no voting or other rights with respect to the Trust.

Rights and Duties. The Shareholders Limited Owners shall have the following rights, powers, privileges, duties and liabilities: (a) The Shareholders Limited Owners shall have the right to obtain from the Sponsor Managing Owner information regarding all things affecting the Trust, provided that such is for a purpose reasonably related to the Shareholders’ Limited Owner’s interest as a beneficial owner of the Trust, including, without limitation, such reports as are set forth in Article IX and the list of Participants contemplated by Section 3.3(a)(i). In the event that the Managing Owner neglects or refuses to produce or mail to a Limited Owner a copy of the list of Participants contemplated by Section 3.3(a)(i), the Managing Owner shall be liable to such Limited Owner for the costs, including reasonable attorney’s fees, incurred by such Limited Owner to compel the production of such information, and for any actual damages suffered by such Limited Owner as a result of such refusal or neglect; provided, however, it shall be a defense of the Managing Owner that the actual purpose of the Limited Owner’s request for such information was not reasonably related to the Limited Owner’s interest as a beneficial owner in the Trust (e.g., to secure such information in order to sell it, or to use the same for a commercial purpose unrelated to the participation of such Limited Owner in the Trust). The foregoing rights are in addition to, and do not limit other remedies available to Limited Owners under U.S. federal or state law. (b) The Shareholders Limited Owners shall receive the share of the distributions provided for in this Trust Agreement in the manner and at the times provided for in this Trust Agreement. (c) Except for the ShareholdersLimited Owners’ redemption rights set forth in Article IX VII hereof, Shareholders Limited Owners shall have the right to demand the return of their capital account only upon the dissolution and winding up of the Trust and only to the extent of funds available therefortherefore. In no event shall a Shareholder Limited Owner be entitled to demand or receive property other than cash. No Shareholder Limited Owner shall have priority over any other Shareholder Limited Owner either as to the return of capital or as to profits, losses or distributions. No Shareholder Limited Owner shall have the right to bring an action for partition against the Trust. (d) Except Limited Owners holding Units representing at least a majority (over 50%) (except in the case of (ii) and (vii) below, in which case the Units must equal or exceed 75%) in Net Asset Value (not including Units held by the Managing Owner and its Affiliates) may vote to (i) continue the Trust as required under applicable U.S. federal law provided in Section 13.1(a), (ii) remove the Managing Owner on reasonable prior written notice to the Managing Owner, (iii) elect and appoint one or under more additional Managing Owners, or consent to such matters as are set forth in Section 5.2(b), (iv) approve a material change in the rules trading policies, as set forth in the Prospectus, which change shall not be effective without the prior written approval of such majority, (v) approve the termination of any agreement entered into between the Trust and the Managing Owner or regulations of an Exchange, the Shareholders shall have no voting rights hereunder (including with respect to mergers, consolidations or conversions any Affiliate of the Managing Owner for any reason, without penalty, (vi) approve amendments to this Trust or transfers to or domestication Agreement as set forth in any jurisdiction by Section 11.1 hereof, and (vii) terminate the Trust or any other matters that under the Delaware Trust Statute default voting rights are as provided to holders of beneficial interestsin Section 13.1(e). The Shareholders shall have the right to vote on other matters only as the Sponsor may consider desirable , and so authorize in its sole discretion. To the extent that U.S. federal or Delaware law is amended, modified or interpreted by rule, regulation, order, or no-action letter to (on a mandatory basis) expand, eliminate or limit Shareholders’ right to vote on any specific matter, the Shareholders’ right to vote shall be deemed to be amended, modified or interpreted in accordance therewith without further approval by the Sponsor or the Shareholders. (e) No action may be brought by a Shareholder on behalf of the Trust unless Shareholders owning no less than a majority of the then outstanding Shares join in the bringing case of such action(iii), (iv) and (v) in each instance on sixty (60) days’ prior written notice. Except as set forth above, the Shareholders Limited Owners shall have no voting or other rights with respect to the Trust.