Common use of No Management or Control; Limited Liability; Exercise of Rights through DTC Clause in Contracts

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund shall not participate in the management or control of the Trust or the applicable Fund or the applicable Fund’s business, shall not transact any business for the Trust or any Fund and shall not have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 hereof, no Unitholder of any Fund shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series of the Trust except to the extent of such Unitholder’s proportionate share of the applicable Fund’s Trust Estate. Except as provided in Section 9.3 hereof, each Unit shall be fully paid and no assessment shall be made against any Unitholder. No salary shall be paid to any Unitholder in its capacity as such, nor shall any Unitholder have a drawing account or earn interest on its share of a Fund’s Trust Estate. By the purchase and acceptance or other lawful delivery and acceptance of Units, each Unitholder shall be deemed to be a beneficiary of the applicable Fund and vested with beneficial undivided interest in such Fund to the extent of the Units owned beneficially by such Unitholder, subject to the terms and conditions of this Trust Agreement. The rights under this Trust Agreement of any Unitholder that is not a DTC Participant must be exercised by a DTC Participant acting on behalf of such Unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.6.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders Limited Shareholders of a Fund shall not participate in the management or control of the Trust or the applicable Fund or the applicable Fund’s business, shall not transact any business for the Trust or any Fund and shall not have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 8.3 hereof, no Unitholder Limited Shareholder of any Fund shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series Fund of the Trust except to the extent of such UnitholderShareholder’s proportionate share of the applicable Fund’s Trust Estate. Except as provided in Section 9.3 8.3 hereof, each Unit Limited Share shall be fully paid and no assessment shall be made against any UnitholderLimited Shareholder. No salary shall be paid to any Unitholder Limited Shareholder in its capacity as such, nor shall any Unitholder Limited Shareholder have a drawing account or earn interest on its share of a Fund’s Trust Estate. By the purchase and acceptance or other lawful delivery and acceptance of UnitsLimited Shares, each Unitholder Limited Shareholder shall be deemed to be a beneficiary of the applicable Fund and vested with beneficial undivided interest in such Fund to the extent of the Units Limited Shares owned beneficially by such UnitholderShareholder, subject to the terms and conditions of this Trust Agreement. The rights under this Trust Agreement of any Unitholder Shareholder that is not a DTC Participant must be exercised by a DTC Participant acting on behalf of such Unitholder Shareholder in accordance with the rules and procedures of the Depository, as provided in Section 4.63.6.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund Limited Owners shall not participate in the management or control of the Trust or the applicable Fund or the applicable FundTrust’s business, business nor shall not they transact any business for the Trust or any Fund and shall not have the power to sign for or bind the Trust or any FundTrust, said power being vested solely and exclusively in the SponsorManaging Owner. Except as provided in Section 9.3 8.3 hereof, no Unitholder of any Fund Limited Owner shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series Trust in excess of its Capital Contribution plus its share of the Trust except to the extent of such Unitholder’s proportionate share of the applicable Fund’s Trust EstateEstate and profits remaining, if any. Except as provided in Section 9.3 8.3 hereof, each Unit owned by a Limited Owner shall be fully paid and no assessment shall be made against any UnitholderLimited Owner. No salary shall be paid to any Unitholder Limited Owner in its capacity as sucha Limited Owner, nor shall any Unitholder Limited Owner have a drawing account or earn interest on its share of a Fund’s Trust EstateCapital Contribution. By the purchase and acceptance or other lawful delivery and acceptance of Units, each Unitholder Beneficial Owner shall be deemed to be a Limited Owner and beneficiary of the applicable Fund Trust and vested with beneficial undivided interest in such Fund the Trust to the extent of the Units owned beneficially by such UnitholderBeneficial Owner, subject to the terms and conditions of this Trust Agreement. The rights of Beneficial Owners under this Trust Agreement of any Unitholder that is not a DTC Participant must be exercised by a DTC Participant Direct Participants, or Indirect Participants, as applicable, acting on their behalf of such Unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.63.5.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund shall not participate in the management or control of the Trust or the applicable Fund or the applicable Fund’s business, shall not transact any business for the Trust or any Fund and shall not have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 hereof, no Unitholder unitholder of any Fund shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series of the Trust except to the extent of such Unitholderunitholder’s proportionate share of the applicable Fund’s Trust Estate. Except as provided in Section 9.3 hereof, each Unit shall be fully paid and no assessment shall be made against any Unitholderunitholder. No salary shall be paid to any Unitholder unitholder in its capacity as such, nor shall any Unitholder unitholder have a drawing account or earn interest on its share of a Fund’s Trust Estate. By the purchase and acceptance or other lawful delivery and acceptance of Unitsunits, each Unitholder unitholder shall be deemed to be a beneficiary of the applicable Fund and vested with beneficial undivided interest in such Fund to the extent of the Units units owned beneficially by such Unitholderunitholder, subject to the terms and conditions of this Trust Agreement. The rights under this Trust Agreement of any Unitholder unitholder that is not a DTC Participant must be exercised by a DTC Participant acting on behalf of such Unitholder unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.6.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund Shareholders shall not participate in the management or control of the Trust or the applicable Fund Trust’s or the applicable Fund’s business, business nor shall not they transact any business for the Trust or any Fund and shall not or have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 7.3 hereof, no Unitholder of any Fund Shareholder shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series Expenses of the Trust except to the extent of such Unitholder’s proportionate share or any Fund in excess of the applicable FundClass Value per Share attributable to such Shareholder’s Trust EstateShares. Except as provided in Section 9.3 7.3 hereof, each Unit Share owned by a Shareholder shall be fully paid and no assessment shall be made against any UnitholderShareholder. No salary shall be paid to any Unitholder Shareholder in its his capacity as sucha Shareholder, nor shall any Unitholder Shareholder have a drawing account or earn interest on its share of a Fund’s Trust Estateany contribution. By the purchase and acceptance or other lawful delivery and acceptance of UnitsShares, each Unitholder Beneficial Owner shall be deemed to be a registered Shareholder and beneficiary of the applicable Fund and vested with undivided beneficial undivided interest in such Fund to the extent of the Units Shares owned beneficially by such UnitholderBeneficial Owner, subject to the terms and conditions of this Trust Agreement. The rights of Beneficial Owners under this Trust Agreement of any Unitholder that is not a DTC Participant must be exercised by a DTC Participant Participants acting on their behalf of such Unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.63.4 hereof.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders Limited Shareholders of a Fund shall not participate in the management or control of the Trust or the applicable Fund or the applicable Fundfund’s business, shall not transact any business for the Trust or any Fund and shall not have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 8.3 hereof, no Unitholder Limited Shareholder of any Fund shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series Fund of the Trust except to the extent of such UnitholderShareholder’s proportionate share of the applicable Fund’s Trust Estate. Except as provided in Section 9.3 8.3 hereof, each Unit Limited Share shall be fully paid and no assessment shall be made against any UnitholderLimited Shareholder. No salary shall be paid to any Unitholder Limited Shareholder in its capacity as such, nor shall any Unitholder Limited Shareholder have a drawing account or earn interest on its share of a Fund’s Trust Estate. By the purchase and acceptance or other lawful delivery and acceptance of UnitsLimited Shares, each Unitholder Limited Shareholder shall be deemed to be a beneficiary of the applicable Fund and vested with beneficial undivided interest in such Fund to the extent of the Units Limited Shares owned beneficially by such UnitholderShareholder, subject to the terms and conditions of this Trust Agreement. The rights under this Trust Agreement of any Unitholder Shareholder that is not a DTC Participant must be exercised by a DTC Participant acting on behalf of such Unitholder Shareholder in accordance with the rules and procedures of the Depository, as provided in Section 4.63.6.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund Shareholders shall not participate in the management or control of the Trust or the applicable Fund Trust’s or the applicable Fund’s business, business nor shall not they transact any business for the Trust or any Fund and shall not or have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 7.3 hereof, no Unitholder of any Fund Shareholder shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund Trust or any other series Fund in excess of the Trust except to the extent of such Unitholder’s proportionate his Capital Contribution plus his share of the applicable Fund’s any Trust EstateEstate of a Fund in which such Shareholder owns a Share and profits remaining, if any. Except as provided in Section 9.3 7.3 hereof, each Unit Share owned by a Shareholder shall be fully paid and no assessment shall be made against any UnitholderShareholder. No salary shall be paid to any Unitholder Shareholder in its his capacity as sucha Shareholder, nor shall any Unitholder Shareholder have a drawing account or earn interest on its share of a Fund’s Trust Estatehis contribution. By the purchase and acceptance or other lawful delivery and acceptance of UnitsShares, each Unitholder Beneficial Owner shall be deemed to be a Shareholder and beneficiary of the applicable Fund and vested with beneficial undivided interest in such Fund to the extent of the Units Shares owned beneficially by such UnitholderBeneficial Owner, subject to the terms and conditions of this Trust Agreement. The rights of Beneficial Owners under this Trust Agreement of any Unitholder that is not a DTC Participant must be exercised by a DTC Participant Participants acting on their behalf of such Unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.63.5 hereof.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund Shareholders shall not participate in the management or control of the Trust or the applicable Fund Trust’s or the applicable Fund’s business, business nor shall not they transact any business for the Trust or any Fund and shall not or have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 7.3 hereof, no Unitholder of any Fund Shareholder shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund Trust or any other series Fund in excess of the Trust except to the extent of such Unitholder’s proportionate his Capital Contribution plus his share of the applicable Fund’s any Trust EstateEstate of a Fund in which such Shareholder owns a Share and profits remaining, if any. Except as provided in Section 9.3 7.3 hereof, each Unit Share owned by a Shareholder shall be fully paid and no assessment shall be made against any UnitholderShareholder. No salary shall be paid to any Unitholder Shareholder in its his capacity as sucha Shareholder, nor shall any Unitholder Shareholder have a drawing account or earn interest on its share of a Fund’s Trust Estatehis contribution. By the purchase and acceptance or other lawful delivery and acceptance of UnitsShares, each Unitholder Beneficial Owner shall be deemed to be a Shareholder and beneficiary of the applicable Fund and vested with beneficial undivided interest in such Fund to the extent of the Units Shares owned beneficially by such UnitholderBeneficial Owner, subject to the terms and conditions of this Trust Agreement. The rights of Beneficial Owners under this Trust Agreement of any Unitholder that is not a DTC Participant must be exercised by a DTC Participant Participants acting on their behalf of such Unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.63.4 hereof.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund shall not participate in the management or control of the Trust or the applicable Fund or the applicable Fund’s business, shall not transact any business for the Trust or any Fund and shall not have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 hereof, no Unitholder of any Fund shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series of the Trust except to the extent of such Unitholder’s proportionate share of the applicable Fund’s Trust Estate. Except as provided in Section 9.3 hereof, each Unit shall be fully paid and no assessment shall be made against any Unitholder. No salary shall be paid to any Unitholder in its capacity as such, nor shall any Unitholder have a drawing account or earn interest on its share of a Fund’s Table of Contents Trust Estate. By the purchase and acceptance or other lawful delivery and acceptance of Units, each Unitholder shall be deemed to be a beneficiary of the applicable Fund and vested with beneficial undivided interest in such Fund to the extent of the Units owned beneficially by such Unitholder, subject to the terms and conditions of this Trust Agreement. The rights under this Trust Agreement of any Unitholder that is not a DTC Participant must be exercised by a DTC Participant acting on behalf of such Unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.6.

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund shall not participate in the management or control of the Trust or the applicable Fund or the applicable Fund’s business, shall not transact any business for the Trust or any Fund and shall not have the power to sign for or bind the Trust or any Fund, said power being vested solely and exclusively in the Sponsor. Except as provided in Section 9.3 hereof, no Unitholder of any Fund shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series of the Trust except to the extent of such Unitholder’s proportionate share of the applicable Fund’s Trust Estate. Except as provided in Section 9.3 hereof, each Unit shall be fully paid and no assessment shall be made against any Unitholder. No salary shall be paid to any Unitholder in its capacity as such, nor shall any Unitholder have a drawing account or earn interest on its share of a Fund’s Trust Estate. By the purchase and acceptance or other lawful delivery and acceptance of Units, each Unitholder shall be deemed to be a beneficiary of the applicable Fund and vested with beneficial undivided interest in such Fund to the extent of the Units owned beneficially by such Unitholder, subject to the terms and conditions of this Trust Agreement. The rights under this Trust Agreement of any Unitholder that is not a DTC Participant must be exercised by a DTC Participant acting on behalf of such Unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.6.. 40

No Management or Control; Limited Liability; Exercise of Rights through DTC. The Unitholders of a Fund Limited Owners shall not participate in the management or control of the Trust or the applicable Fund or the applicable FundTrust’s business, business nor shall not they transact any business for the Trust or any Fund and shall not have the power to sign for or bind the Trust or any FundTrust, said power being vested solely and exclusively in the SponsorManaging Owner. Except as provided in Section 9.3 8.3 hereof, no Unitholder of any Fund Limited Owner shall be bound by, or be personally liable for, the expenses, liabilities or obligations of the Trust, the applicable Fund or any other series Trust in excess of the Trust except to the extent of such Unitholder’s proportionate its Capital Contribution plus its share of any Trust Estate in which such Limited Owner owns a Unit and the applicable FundTrust’s Trust Estateremaining profits, if any. Except as provided in Section 9.3 8.3 hereof, each Limited Unit owned by a Limited Owner shall be fully paid and no assessment shall be made against any UnitholderLimited Owner. No salary shall be paid to any Unitholder Limited Owner in its capacity as sucha Limited Owner, nor shall any Unitholder Limited Owner have a drawing account or earn interest on its share of a Fund’s Trust Estatecapital. By the purchase and acceptance or other lawful delivery and acceptance of Limited Units, each Unitholder Beneficial Owner shall be deemed to be a Limited Owner and beneficiary of the applicable Fund Trust and vested with beneficial undivided interest in such Fund the Trust to the extent of the Limited Units owned beneficially by such UnitholderBeneficial Owner, subject to the terms and conditions of this Trust Agreement. The rights of Beneficial Owners under this Trust Agreement of any Unitholder that is not a DTC Participant must be exercised by a DTC Participant Participants acting on their behalf of such Unitholder in accordance with the rules and procedures of the Depository, as provided in Section 4.63.4.