Common use of Global Certificate Only Clause in Contracts

Global Certificate Only. Certificates for Creation Baskets will not be issued, other than the applicable Global Security issued to the Depository. So long as the Depository Agreement is in effect, Creation Baskets will be issued and redeemed and Units will be transferable solely through the book-entry systems of the Depository and the Direct Participants and their Indirect Participants as more fully described in Section 3.5. The Depository may determine to discontinue providing its service with respect to Creation Baskets and Units by giving notice to the Managing Owner pursuant to and in conformity with the provisions of the Depository Agreement and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, the Managing Owner shall take action either to find a replacement for the Depository to perform its functions at a comparable cost and on terms acceptable to the Managing Owner or, if such a replacement is unavailable, to terminate the Trust.

Global Certificate Only. Certificates for Creation Baskets will not be issued, other than the applicable Global Security issued to the Depository. So long as the Depository Agreement is in effect, Creation Baskets will be issued and redeemed and Units Shares will be transferable solely through the book-entry systems of the Depository and the Direct DTC Participants and their Indirect Participants as more fully described in Section 3.53.03. The Depository may determine to discontinue providing its service with respect to Creation Baskets and Units Shares by giving notice to the Managing Owner Sponsor pursuant to and in conformity with the provisions of the Depository Agreement and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, the Managing Owner Sponsor shall take action either to find a replacement for the Depository to perform its functions at a comparable cost and on terms acceptable to the Managing Owner Sponsor or, if such a replacement is unavailable, to terminate the Trust.

Global Certificate Only. Certificates for Creation Baskets or any Shares will not be issued, other than the applicable Global Security Certificate issued to the Depository. So long as the Depository Agreement Arrangement is in effect, Creation Baskets will be issued and redeemed and Units Shares will be transferable solely through the book-entry systems of the Depository and the Direct DTC Participants and their Indirect Participants as more fully described in Section 3.53.3. The Depository may determine to discontinue providing its service with respect to Creation Baskets and Units Shares by giving notice to the Managing Owner Manager pursuant to and in conformity with the provisions of the Depository Agreement Arrangement and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, the Managing Owner Manager shall take action either to find a replacement for the Depository to perform its functions at a comparable cost and on terms acceptable to the Managing Owner or, if such a replacement is unavailable, to terminate the Trust.

Global Certificate Only. Certificates for Creation Baskets will not be issued, other than the applicable Global Security issued to the Depository. So long as the Depository Agreement is in effect, Creation Baskets will be issued and redeemed and Limited Units will be transferable solely through the book-entry systems of the Depository and the Direct DTC Participants and their Indirect Participants as more fully described in Section 3.53.4. The Depository may determine to discontinue providing its service with respect to Creation Baskets and Limited Units by giving notice to the Managing Owner pursuant to and in conformity with the provisions of the Depository Agreement and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, the Managing Owner shall take action either to find a replacement for the Depository to perform its functions at a comparable cost and on terms acceptable to the Managing Owner or, if such a replacement is unavailable, to terminate the Trust.

Global Certificate Only. Certificates for Creation Baskets Units will not be issued, other than the applicable Global Security issued to the Depository. So long as the Depository Agreement is in effect, Creation Baskets Units will be issued and redeemed and Units Shares will be transferable solely through the book-entry systems of the Depository and the Direct DTC Participants and their Indirect DTC Participants as more fully described in Section 3.53.5 hereof. The Depository may determine to discontinue providing its service with respect to Creation Baskets Units and Units Shares by giving notice to the Managing Owner Sponsor pursuant to and in conformity with the provisions of the Depository Agreement and discharging its responsibilities with respect thereto under applicable law. Under such circumstances, the Managing Owner Sponsor shall take action either to find a replacement for the Depository to perform its functions at a comparable cost and on terms acceptable to the Managing Owner Sponsor or, if such a replacement is unavailable, to terminate the TrustTrust or the Funds, as applicable.