Common use of Creation Unit Clause in Contracts

Creation Unit. All references to “cash” shall refer to US Dollars (“USD”). The number of Shares constituting a Creation Unit of each Fund is set forth in the Prospectus. Creation Units of Shares may be purchased only by or through an Authorized Participant that has entered into an Authorized Participant Agreement with the Company and the Distributor. The Prospectus provides that Creation Units generally will be sold in exchange for an in-kind deposit of a designated portfolio of equity securities (the “Deposit Securities”) and an amount of cash computed as described in the Prospectus (the “Cash Component”), plus a purchase “Transaction Fee” as described in the Prospectus, delivered to the Company by the Authorized Participant for its own account or acting on behalf of another party. Together, the Deposit Securities and the Cash Requirement constitute the “Creation Deposit,” which represents the minimum initial and subsequent investment amount for Shares of any Fund of the Company. References to the Prospectus are to the then current Prospectus as it may be supplemented or amended from time to time. Capitalized terms not otherwise defined herein are used herein as defined in the Prospectus. This Agreement is intended to set forth certain premises and the procedures by which the Authorized Participant may purchase and/or redeem Creation Units of Shares (i) through the Continuous Net Settlement (“CNS”) clearing processes of NSCC as such processes have been enhanced to effect purchases and redemptions of Creation Units, such processes being referred to herein as the “CNS Clearing Process,” or (ii) outside the CNS Clearing Process (i.e., through the manual process of The Depository Trust Company (“DTC”) (the “DTC Process”). The procedures for processing an order to purchase Shares (each a “Purchase Order”) and an order to redeem Shares (each a “Redemption Order”) are described in the Company’s Prospectus and in Annex II to this Agreement. All Purchase and Redemption Orders must be made pursuant to the procedures set forth in the Prospectus and Annex II hereto, as each may be amended by the Company from time to time. An Authorized Participant may not place a Purchase Order before the fifth (5th) Business Day (as defined below) following execution and delivery to the Distributor of this Agreement and notification by the Distributor of the Authorized Participant's status. An Authorized Participant may not cancel a Purchase Order or a Redemption Order after an order is placed by the Authorized Participant.

Creation Unit. All references to “cash” shall refer to US Dollars (“USD”). The number of Fund Shares presently constituting a Creation Unit of each Fund is set forth in the Prospectus. Annex I. Creation Units of Fund Shares may be purchased only by or through an Authorized Participant entity that has entered into an Authorized Participant Agreement with the Distributor and is either a participant in The Depository Trust Company and ("DTC") or a broker-dealer or other participant in the DistributorContinuous Net Settlement System (the "CNSS") of NSCC. The Prospectus provides that Nothing in this Agreement shall obligate the Participant to create or redeem one or more Creation Units of Fund Shares or to sell or offer to sell the Fund Shares. To purchase a Creation Unit, an authorized DTC participant or CNSS participant generally will be sold in exchange for an in-kind deposit of must deliver to a Fund a designated portfolio basket of equity securities (the “"Deposit Securities”") and an amount of cash computed as described in the Prospectus Fund Documents (the “Cash Component”"Balancing Amount"), plus a purchase “Transaction Fee” transaction fee as described in the Prospectus, delivered to Fund Documents (the Company by the Authorized Participant for its own account or acting on behalf of another party"Transaction Fee"). Together, the The Deposit Securities and the Cash Requirement Balancing Amount together constitute the “"Fund Deposit" The amount of such Transaction Fee shall be determined by the Company or an investment adviser to a Fund (each, an "Advisor") in accordance with the Fund Documents. In lieu of Deposit Securities, a Fund or its Advisor may (in its sole discretion) issue Creation Deposit,” which represents Units for an All-Cash Payment. The Distributor shall use reasonable efforts to cause the minimum initial and subsequent investment amount for Shares Company or Advisor to the Fund to provide prior notice to Participant of any Fund of the Company. References change to the Prospectus are to Transaction Fee. In the then current Prospectus case of each Fund that invests in international or global equity securities, the Participant understands and agrees that the Company has caused the "Custodian" (as it may be supplemented or amended from time to time. Capitalized terms not otherwise defined herein are used herein as such term is defined in the Prospectus. This Agreement is intended AP Handbook) to set forth certain premises and maintain an account with the procedures by applicable sub-Custodian for such Fund in the relevant foreign jurisdiction to which the Authorized Participant may purchase and/or redeem Creation Units of Shares shall, pursuant to instructions provided by the Fund or its Custodian, deliver (or cause to be delivered) the Deposit Securities for itself: (i) through the Continuous Net Settlement (“CNS”) clearing processes of NSCC as such processes have been enhanced to effect purchases and redemptions of in connection with any Creation Units, such processes being referred to herein as the “CNS Clearing Process,” or ; (ii) outside with any appropriate adjustments as advised by such sub-Custodian or Fund; and (iii) in accordance with the CNS Clearing Process (i.e., through instructions provided to Participant in writing by the manual process of The Depository Trust Company (“DTC”) (sub-Custodian or the “DTC Process”)Fund regarding particular terms and conditions applicable to such account in such jurisdiction. The procedures for processing an order Participant shall not be required to purchase Shares (each a “Purchase Order”) comply with terms and an order to redeem Shares (each a “Redemption Order”) are described conditions of which it has not been provided prior written notice. The Parties, in the Company’s Prospectus and in Annex II to this Agreement. All Purchase and Redemption Orders must be made pursuant to the procedures set forth in the Prospectus and Annex II hereto, as each may be amended by the Company from time to time. An Authorized Participant may not place a Purchase Order before the fifth (5th) Business Day (as defined below) following execution and delivery to the Distributor of this Agreement and notification by the Distributor consideration of the Authorized Participant's status. An Authorized Participant may not cancel a Purchase Order or a Redemption Order after an order is placed by premises and of the Authorized Participant.mutual agreements contained herein, agree as follows:

Creation Unit. All references to “"cash” " shall refer to US Dollars (“"USD”"). Securities which are required to be custodied in accordance with Section 5 of this Agreement shall be referred to as "International Securities" and all other securities shall be referred to as "Domestic Securities" in this Agreement. The number of Shares constituting a Creation Unit of each Fund is set forth in the Prospectus. Creation Units of Shares may be purchased only by or through an Authorized Participant that has entered into an Authorized Participant Agreement with the Company and the Distributor. The Prospectus provides that Creation Units generally will be sold in exchange for an in-kind deposit of a designated portfolio of equity securities (the “"Deposit Securities”") and an amount of cash computed as described in the Prospectus (the “"Cash Component”"), plus a purchase “"Transaction Fee” " as described in the Prospectus, delivered to the Company by the Authorized Participant for its own account or acting on behalf of another party. Together, the Deposit Securities and the Cash Requirement Component constitute the “"Creation Deposit,” " which represents the minimum initial and subsequent investment amount for Shares of any Fund of the Company. References to the Prospectus are to the then current Prospectus as it may be supplemented or amended from time to time. Capitalized terms not otherwise defined herein are used herein as defined in the Prospectus. This Agreement is intended to set forth certain premises and the procedures by which the Authorized Participant may purchase and/or redeem Creation Units of Shares (i) through the Continuous Net Settlement (“"CNS”") clearing processes of NSCC as such processes have been enhanced to effect purchases and redemptions of Creation Units, such processes being referred to herein as the “"CNS Clearing Process,” " or (ii) outside the CNS Clearing Process (i.e., through the manual process of The Depository Trust Company (“"DTC”") (the “"DTC Process”"). The procedures for processing an order to purchase Shares (each a “"Purchase Order”") and an order to redeem Shares (each a “"Redemption Order”") are described in the Company’s 's Prospectus and in Annex II to this Agreement. All Purchase and Redemption Orders must be made pursuant to the procedures set forth in the Prospectus and Annex II hereto, as each may be amended by the Company from time to time. An Authorized Participant may not place a Purchase Order before the fifth (5th) Business Day (as defined below) following execution and delivery to the Distributor of this Agreement and notification by the Distributor of the Authorized Participant's status. An Authorized Participant may not cancel a Purchase Order or a Redemption Order after an order is placed by the Authorized Participant.the

Creation Unit. All references to “"cash” " shall refer to US Dollars (“"USD”"). The number of Shares constituting a Creation Unit of each Fund is set forth in the Prospectus. Creation Units of Shares may be purchased only by or through an Authorized Participant that has entered into an Authorized Participant Agreement with the Company and the Distributor. The Prospectus provides that Creation Units generally will be sold in exchange for an in-kind deposit of a designated portfolio of equity securities (the “"Deposit Securities”") and an amount of cash computed as described in the Prospectus (the “"Cash Component”"), plus a purchase “"Transaction Fee” " as described in the Prospectus, delivered to the Company by the Authorized Participant for its own account or acting on behalf of another party. Together, the Deposit Securities and the Cash Requirement constitute the “"Creation Deposit,” " which represents the minimum initial and subsequent investment amount for Shares of any Fund of the Company. References to the Prospectus are to the then current Prospectus as it may be supplemented or amended from time to time. Capitalized terms not otherwise defined herein are used herein as defined in the Prospectus. This Agreement is intended to set forth certain premises and the procedures by which the Authorized Participant may purchase and/or redeem Creation Units of Shares (i) through the Continuous Net Settlement (“"CNS”") clearing processes of NSCC as such processes have been enhanced to effect purchases and redemptions of Creation Units, such processes being referred to herein as the “"CNS Clearing Process,” " or (ii) outside the CNS Clearing Process (i.e., through the manual process of The Depository Trust Company (“"DTC”") (the “"DTC Process”"). The procedures for processing an order to purchase Shares (each a “"Purchase Order”") and an order to redeem Shares (each a “"Redemption Order”") are described in the Company’s 's Prospectus and in Annex II to this Agreement. All Purchase and Redemption Orders must be made pursuant to the procedures set forth in the Prospectus and Annex II hereto, as each may be amended by the Company from time to time. An Authorized Participant may not place a Exhibit (e)(2) Purchase Order before the fifth (5th) Business Day (as defined below) following execution and delivery to the Distributor of this Agreement and notification by the Distributor of the Authorized Participant's status. An Authorized Participant may not cancel a Purchase Order or a Redemption Order after an order is placed by the Authorized Participant.. The parties hereto in consideration of the premises and of the mutual agreements contained herein agree as follows: