Common use of Index Receipt Agent Services Clause in Contracts

Index Receipt Agent Services. 1. Bank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of purchase and redemption orders for NETS Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC. 2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B hereto with each Authorized Participant, which Bank, in its capacity as Index Receipt Agent, shall acknowledge. 3. In connection with the procedures that may be established from time to time between Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the purchase and redemption of Creation Units through the Clearing Process, Bank shall: (a) receive from the Distributor daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities for each ETF Series, the Balancing Amount and the Transaction Fee, and transmit the file as received from the Distributor to NSCC; (b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains purchase orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the purchase of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of purchase orders as received from the Distributor to NSCC; receive back from NSCC the file of purchase orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such purchase orders, instruct the Transfer Agent to issue the appropriate number of NETS Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account; (c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of NETS Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and (d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the purchase or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series. 4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Distributor, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in respect of one or more of the ETF Series, and transmit the file as received from the Distributor to NSCC. 5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the purchase and redemption of NETS Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such purchases and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, Bank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.

Index Receipt Agent Services. 1. Bank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of purchase issuance and redemption orders for NETS ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC. 2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B hereto with each Authorized Participant, which shall be delivered to the Bank and which Bank, in its capacity as Index Receipt Agent, shall acknowledge. 3. In connection with the procedures that may be established from time to time between Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the purchase issuance and redemption of Creation Units through the Clearing Process, Bank shall: (a) receive from the Distributor Investment Adviser daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee, Fee for each ETF Series and (iii) transmit the file both files as received from the Distributor Investment Adviser and Order Taker to NSCC; (b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains purchase issuance orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the purchase issuance of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of purchase issuance orders as received from the Distributor to NSCC; receive back from NSCC the file of purchase issuance orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such purchase issuance orders, instruct the Transfer Agent to issue the appropriate number of NETS ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account; (c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of NETS ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and (d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the purchase issuance or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series. 4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Distributor, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in respect of one or more of the ETF Series, and transmit the file as received from the Distributor to NSCC. 5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the purchase issuance and redemption of NETS ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such purchases issuances and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, Bank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.

Index Receipt Agent Services. 1. Bank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series the Fund for the processing, clearance and the settlement of purchase and redemption orders for NETS ETF Shares of each ETF Series the Fund and Creation Deposits through the facilities of NSCC and DTC. 2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B II hereto with each Authorized Participant, which Bank, in its capacity as Index Receipt Agent, shall acknowledge. 3. In connection with the procedures that may be established from time to time between Bank and the Trust on behalf of each ETF Series the Fund for the processing, clearance and settlement of the purchase and redemption of Creation Units through the Clearing Process, Bank shall:, (a) receive from the Distributor dailyFund or its agent on each trade date, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities for each ETF SeriesFund, the Balancing Amount and the Transaction Fee, and transmit the file as received from the Distributor Fund or its agent to NSCC; (b) receive from the Distributor Fund or its agent on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains purchase orders from Authorized Participants that have been received and accepted by the Distributor Fund or its agent on behalf of the Trust and each ETF Seriesthe Fund, for the purchase of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of purchase orders as received from the Distributor Fund or its agent to NSCC; receive back from NSCC the file of purchase orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such purchase orders, instruct the Transfer Agent to issue the appropriate number of NETS ETF Shares of the applicable ETF Series Fund for deposit to the Custodian’s 's DTC Participant Account; (c) receive from the Distributor Fund or its agent on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor Fund or its agent on behalf of the Trust for each the Fund; transmit the file of redemption orders as received from the Distributor Fund or its agent to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of NETS ETF Shares of the applicable ETF Series Fund in Creation Units and reduce the account of the Shareholder accordingly; and (d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the purchase or redemption of Creation Units, as instructed by the Distributor Fund or its agent or the Trust on behalf of each ETF SeriesFund. 4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the DistributorFund or its agent, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in respect of one or more of the ETF SeriesFund, and transmit the file as received from the Distributor Fund or its agent to NSCC. 5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the purchase and redemption of NETS ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series the Fund irrespective of whether in effecting such purchases and redemptions for the Trust on behalf of each ETF Series the Fund through the Clearing Process, Bank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Seriesthe Fund, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.

Index Receipt Agent Services. 1. Bank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of purchase and redemption orders for NETS ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC. 2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B hereto with each Authorized Participant, which Bank, in its capacity as Index Receipt Agent, shall acknowledge. 3. In connection with the procedures that may be established from time to time between Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the purchase and redemption of Creation Units through the Clearing ProcessProcess1 , Bank shall: (a) receive from the Distributor daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities for each ETF Series, the Balancing Amount and the Transaction Fee, and transmit the file as received from the Distributor to NSCC;; 1 NSCC requires that the Index Receipt Agent deliver daily to NCSS by the NSCC deadline, a single file of all transaction and fund composition information for all exchange traded fund accounts for whom Bank acts as Index Receipt Agent. Should a distributor for an exchange traded fund served by Bank as Index Receipt Agent fail to deliver timely to Bank the required information, Bank will submit to NSCC to meet the NSCC deadline only those trade files timely received from distributors. (b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains purchase orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the purchase of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of purchase orders as received from the Distributor to NSCC; receive back from NSCC the file of purchase orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such purchase orders, instruct the Transfer Agent to issue the appropriate number of NETS ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account; (c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of NETS ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and (d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the purchase or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series. 4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Distributor, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in with respect of to one or more of the ETF Series, and transmit the file as received from the Distributor to NSCC. 5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the purchase and redemption of NETS ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such purchases and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, Bank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.

Index Receipt Agent Services. 1. Bank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of purchase issuance and redemption orders for NETS ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC. 2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B hereto with each Authorized Participant, which shall be delivered to the Bank and which Bank, in its capacity as Index Receipt Agent, shall acknowledge. 3. In connection with the procedures that may be established from time to time between Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the purchase issuance and redemption of Creation Units through the Clearing Process, Bank shall: (a) receive from the Distributor Investment Adviser daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities (if applicable) for each ETF Series, (ii) receive from the Order Taker daily, a computer generated file that is in form and substance acceptable to NSCC containing the Balancing Amount and the Transaction Fee, Fee for each ETF Series and (iii) transmit the file both files as received from the Distributor Investment Adviser and Order Taker to NSCC;; ETF Agency Services Agreement – March 2010 version (b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains purchase issuance orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the purchase issuance of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of purchase issuance orders as received from the Distributor to NSCC; receive back from NSCC the file of purchase issuance orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such purchase issuance orders, instruct the Transfer Agent to issue the appropriate number of NETS ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account; (c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of NETS ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and (d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the purchase issuance or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series. 4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Distributor, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in respect of one or more of the ETF Series, and transmit the file as received from the Distributor to NSCC. 5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the purchase issuance and redemption of NETS ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such purchases issuances and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, Bank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.

Index Receipt Agent Services. 1. Bank, with the assistance of the Trust, shall make application to NSCC to be the Index Receipt Agent on behalf of the Trust and each ETF Series for the processing, clearance and the settlement of purchase and redemption orders for NETS ETF Shares of each ETF Series and Creation Deposits through the facilities of NSCC and DTC. 2. The Distributor, on behalf of the Trust, shall enter into an Authorized Participant Agreement in the form of Exhibit B hereto with each Authorized Participant, which Bank, in its capacity as Index Receipt Agent, shall acknowledge. 3. In connection with the procedures that may be established from time to time between Bank and the Trust on behalf of each ETF Series for the processing, clearance and settlement of the purchase and redemption of Creation Units through the Clearing Process, Bank shall: (a) receive from the Distributor daily, a computer generated file that is in form and substance acceptable to NSCC containing a list of the Deposit Securities for each ETF Series, the Balancing Amount and the Transaction Fee, and transmit the file as received from the Distributor to NSCC; (b) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains purchase orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust and each ETF Series, for the purchase of Creation Units against delivery of Deposit Securities and a Cash Component; transmit the file of purchase orders as received from the Distributor to NSCC; receive back from NSCC the file of purchase orders enhanced with NSCC generated prices for the Deposit Securities contained in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such purchase orders, instruct the Transfer Agent to issue the appropriate number of NETS ETF Shares of the applicable ETF Series for deposit to the Custodian’s DTC Participant Account; (c) receive from the Distributor on each trade date a computer generated file that is in form and substance acceptable to NSCC and that contains redemption orders from Authorized Participants that have been received and accepted by the Distributor on behalf of the Trust for each Fund; transmit the file of redemption orders as received from the Distributor to NSCC; receive back from NSCC the file of redemption orders enhanced with NSCC generated prices for the Redemption Securities that are in the file and deliver the enhanced file to Custodian for settlement; and, pursuant to such redemption orders, instruct the Transfer Agent to redeem the appropriate number of NETS ETF Shares of the applicable ETF Series in Creation Units and reduce the account of the Shareholder accordingly; and (d) at the appropriate times, cause to be paid over to Authorized Participants Balancing Amounts on the purchase or redemption of Creation Units, as instructed by the Distributor or the Trust on behalf of each ETF Series. 4. At such time as NSCC is prepared to accept customized baskets of Deposit Securities or Redemption Securities, receive from the Distributor, from time to time, a computer generated file similar in form and content to the file described in Subsection 3(a) above but containing a customized basket of Deposit Securities or Redemption Securities in respect of one or more of the ETF Series, and transmit the file as received from the Distributor to NSCC. 5. The Trust understands and agrees that all risk associated with the processing, clearance and settlement of the purchase and redemption of NETS ETF Shares, Deposit Securities and Redemption Securities and cash through the Clearing Process shall be that of the Trust and each ETF Series irrespective of whether in effecting such purchases and redemptions for the Trust on behalf of each ETF Series through the Clearing Process, Bank, as a member of NSCC, is acting as principal or as agent; and, in respect hereof, the Trust and each ETF Series, shall be bound by all the rules and procedures of NSCC and DTC as though it were the member or participant of such clearing and settlement systems.