Common use of Establishment of Classes and Sub-Classes Clause in Contracts

Establishment of Classes and Sub-Classes. The division of any Series into two or more Classes or two or more Sub-Classes and the establishment and designation of such Classes or Sub-Classes shall be effective upon the execution by the Managing Owner of an instrument setting forth such division, and the establishment, designation, and relative rights and preferences of such Classes or Sub-Classes, or as otherwise provided in such instrument. The relative rights and preferences of the Classes of any Series and the Sub-Classes of any Class may differ in such respects as the Managing Owner may determine to be appropriate, provided that such differences are set forth in the aforementioned instrument and that such differences do not alter the allocations described in Article VI. At any time that there are no Interests outstanding of any particular Class or Sub-Class previously established and designated, the Managing Owner may by an instrument executed by it abolish that Class or Sub-Class and the establishment and designation thereof. Each instrument referred to in this paragraph shall have the status of an amendment to this Trust Agreement. Without limiting the authority of the Managing Owner set forth in this Section 3.5 to establish and designate any further Classes or Sub-Classes, the Managing Owner hereby establishes and designates the following Classes (with the relative rights and preferences described herein and in the Registration Statement), as follows: Core Fund—USD Class and CDN Class Agriculture Fund— USD Class and CDN Class Metals Fund— USD Class and CDN Class Energy Fund—— USD Class and CDN Class Accelerated Core Fund— USD Class and CDN Class a) Offer of Core Fund Interests.