Common use of Fund Deposit Clause in Contracts

Fund Deposit. To effect the purchase of a Creation Unit, the Participant agrees on behalf of itself and any Participant Client to deliver to the Fund a Fund Deposit plus a purchase transaction fee as described in the Prospectus, which shall be determined by the Fund in its sole discretion. The Fund Deposit shall consist of the requisite Deposit Securities and a Cash Component. The Fund may permit or require the substitution of an amount of cash to be added to the Cash Component to replace any Deposit Security. The Fund may, in its sole discretion, accept collateral in anticipation of delivery of all or a portion of the requisite Deposit Securities. Under certain circumstances, the Fund may use such cash or collateral to purchase Deposit Securities. The Participant shall be responsible for any and all expenses and costs incurred by the Fund in connection with any Purchase Orders.