Index calculation. 1. Subject to the provisions of this Agreement Solactive will continually calculate the Indices set out in the relevant Order Schedule and will continually maintain and disseminate them from (and including), in each case, the relevant Index Calculation Start Date (as set out in the applicable Order Schedule). 2. Solactive shall use its best endeavors to ensure that the Indices are calculated and maintained correctly. 3. Details including but not limited to calculation and maintenance of the Indices shall be stipulated in the respective Index guidelines or methodology agreed upon between the Parties, as it may be amended in the future (the “Index Methodology”). For this purpose the Trust shall provide the necessary Index specification pursuant to the relevant Order Schedule. 4. The scope of the services provided by Solactive includes setting up the Indices and continuous calculation and maintenance of the Indices in accordance with the Index Methodology. Setting up the Indices includes, among other things, establishing the name, parameters, exchange rates, calculation days, calculation term etc., in connection with the Indices. Maintaining the Indices includes but is not limited to necessary adjustment of the Indices according to capital measures such as split of shares or capital increase, or after dividend payments related to shares, which are elements of the Indices, and adjustments to the Indices in the framework of extraordinary or ordinary adjustments. For adjustments to the Indices in the framework of maintenance, if agreed to by both Parties, Solactive shall provide one indication and one final adjustment. The indication consists of a hypothetical calculation of the composition of the Index taking account of the adjustment which will only be made in the future; the final adjustment involves converting the Index calculation taking account of the adjustment to be made. 5. If agreed to by the Trust in writing, on each business day Solactive shall post the current Index composition (Index name, elements and weighting) of the relevant Indices on a website maintained by Solactive. In connection with the foregoing, as of the date of this Agreement, Trust does not desire to have any of the Indices posted on a website maintained by Solactive unless otherwise notified to Solactive in writing by Trust. 6. Solactive shall use the criteria for compiling and calculating the Indices, and the weighting and the calculation formula set out in the respective Index Methodology on behalf of the Trust. 7. If there should be unforeseeable circumstances which necessitate an extraordinary adjustment to an Index, Solactive shall prepare the adjustment taking account the stipulations of the Index Methodology, notify the Trust of such circumstances as soon as it becomes aware of them and coordinate further procedures with the Trust. If it is not possible to contact the Trust and such circumstance requires an immediate extraordinary adjustment, Solactive may make the extraordinary adjustment (in accordance with the Index Methodology), in the best interest of the Trust; provided, however, that the notice related to such extraordinary adjustment provided by Solactive to Trust contains details of how such adjustment will be treated and Trust has the ability to make subsequent modifications so long as these are administratively feasible for Solactive.
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Sources: Index Calculation Agreement (Wilshire wShares Enhanced Gold Trust)
Index calculation. 1. Subject to the provisions of this Agreement Solactive will continually calculate the Indices set out in the relevant Order Schedule and will continually maintain and disseminate them from (and including), in each case, the relevant Index Calculation Start Date (as set out in the applicable Order Schedule)calculation start date.
2. Solactive shall use its best endeavors efforts and use appropriately skilled and experienced personnel to ensure that the Indices are calculated and maintained correctly. Solactive does not have any obligations over and above this § 1 regarding the correctness of the index calculation and maintenance; in all other respects § 7 applies.
3. Details including but not limited to calculation and maintenance of the Indices shall be stipulated in the respective Index guidelines or methodology agreed upon between the Parties, as it Solactive may be amended in the future (the “Index Methodology”). For this purpose the Trust shall provide the necessary Index specification pursuant to the relevant Order Schedule.
4. The scope of the services provided by Solactive includes setting up the Indices and continuous calculation and maintenance of the Indices in accordance with the Index Methodology. Setting up the Indices includes, among other things, establishing the name, parameters, exchange rates, calculation days, calculation term etc., in connection with the Indices. Maintaining the Indices includes but is not limited to necessary adjustment of the Indices according to capital measures such as split of shares or capital increase, or after dividend payments related to shares, which are elements of the Indices, and adjustments to the Indices in the framework of extraordinary or ordinary adjustments. For adjustments to the Indices in the framework of maintenance, if agreed to by both Parties, Solactive shall provide one indication and one final adjustment. The indication consists of a hypothetical calculation of the composition of the Index taking account of the adjustment which will only be made in the future; the final adjustment involves converting the Index calculation taking account of the adjustment to be made.
5. If agreed to by the Trust in writing, on each business day Solactive shall post the current Index composition (Index name, elements and weighting) of the relevant certain Indices on a website maintained by Solactivethe Internet at its due discretion.
4. In connection Solactive shall maintain the Indices in accordance with the foregoing, as of the date of this Agreement, Trust does not desire to have any of the Indices posted on a website maintained by Solactive unless otherwise notified to Solactive in writing by TrustIndex rules and guidelines.
65. Solactive shall use the criteria for compiling and calculating the Indices, and the weighting and the calculation formula set out in the respective Index Methodology guidelines.
6. Solactive is entitled to develop Index guidelines providing information on behalf of the TrustIndices for investors and other third parties and to publish such guidelines on its websites also.
7. Solactive shall comply with the EU Benchmarks Regulation (Regulation (EU) 2016/1011) and shall remain authorized as a benchmark administrator by the Bundesanstalt für Finanzdienstleistungsaufsicht or other competent authority. Solactive shall also comply with the IOSCO Principles for Financial Benchmarks published on or about 17 July 2013.
8. Solactive shall maintain appropriate information security measures to protect the Solactive systems hosting and processing data for creating, storing and publishing values for the Indices.
9. If there should be unforeseeable circumstances which necessitate an extraordinary adjustment to an IndexIndex adjustment, Solactive shall prepare the adjustment taking account of the stipulations of the Index Methodologyguideline.
10. Solactive, notify in fulfilling its obligations under this Agreement, may, from time to time, rely on certain non-personal data from third-parties and in some cases, provide such data to the Trust Licensee (the “Third-Party Data”).
11. The use of Third-Party Data by the Licensee may, in some cases: (a) be subject to the prior consent of a third-party data provider (each a "Third-Party Data Provider"); (b) require Solactive to disclose the identity of the Licensee to a Third-Party Data Provider; (c) require the Licensee to obtain a separate license with a Third-Party Data Provider; and/or (d) any other action as may be required by a Third-Party Data Provider ((a), (b), (c) and (d) collectively, the "Third-Party Data Requirements"). In each case, Solactive shall inform the Licensee of the Third-Party Data Requirements (the "Third-Party Data Communication") (provided that any requirement to do so is set out in the relevant Order Schedule, is pre-notified in this Agreement or explicitly communicated to the Licensee by Solactive by other means (the “Communication Means”). In the event the Licensee does not wish to comply and/or declares its unwillingness to comply with such Third-Party Data Requirements not identified prior to signature of the relevant Order Schedule via the Communication Means, Solactive shall not be obligated to fulfil its obligations under this Agreement and each party may terminate the relevant license granted under this Agreement as well as the entire Agreement by providing the other party at DocuSign Envelope ID: 9B2B7ACA-6062-4D61-B78B-02DC885B8CD9 least thirty (30) calendar days written notice from the date of Solactive's Third-Party Data Communication.
12. Where a Third-Party Data Provider requires the Licensee to enter into an agreement directly with the Third-Party Data Provider in respect of the Third-Party Data, the Licensee shall, upon request of Solactive, supply a copy of such circumstances as soon as it becomes aware of them and coordinate further procedures with agreement to Solactive (the Trust"Third-Party Data Agreement Request"). If it is not possible the Licensee fails to contact provide the Trust and such circumstance requires an immediate extraordinary adjustmentapplicable agreement or confirmation by the date specified in the Third-Party Data Agreement Request, Solactive shall not be obligated to fulfil its obligations under this Agreement and each party may make terminate the extraordinary adjustment relevant license(s) granted under this Agreement by providing the other party at least thirty (in accordance with 30) calendar days written notice from the Index Methodology), in the best interest date of the Trust; provided, however, that the notice related to such extraordinary adjustment provided by Solactive to Trust contains details of how such adjustment will be treated and Trust has the ability to make subsequent modifications so long as these are administratively feasible for Solactive's Third-Party Agreement Request.
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