Common use of Initial Contribution Clause in Contracts

Initial Contribution. A Beneficial Owner’s Initial Contribution will be equal to the amount of cash and the value (as determined under Section 7 of this Annex I (references to Sections in this Annex I will be to Sections in this Annex I unless otherwise stated and references to Sections of the Trust Agreement will be indicated as such)) of any CERFs or Short-Term Securities contributed to the Trust, by the Beneficial Owner or its agent on the first issuance of Shares to the Beneficial Owner or its agent as described in Article II.

Initial Contribution. A Beneficial Owner’s 's "Initial Contribution Contribution" will be equal to the amount of cash and the value (as determined under Section 7 of this Annex I (references to Sections in this Annex I will be to Sections in this Annex I unless otherwise stated and references to Sections of the Trust Agreement will be indicated as such)I) of any CERFs Index Futures or Short-Term Securities contributed to the Trust, Trust by the Beneficial Owner or its agent on the first issuance of Shares to the Beneficial Owner or its agent as described in Article II.

Initial Contribution. A Beneficial Owner’s Initial Contribution will be equal to the amount of cash and the value (as determined under Section 7 of this Annex I (references to Sections in this Annex I will be to Sections in this Annex I unless otherwise stated and references to Sections of the Trust Agreement will be indicated as such)) of any CERFs Index Futures or Short-Term Securities contributed to the Trust, by the Beneficial Owner or its agent on the first issuance of Shares to the Beneficial Owner or its agent as described in Article II.