The Trust and the Funds Clause Samples
This clause defines the relationship between the trust entity and the specific funds it manages or holds. It typically outlines how the trust is established to hold, invest, or administer certain assets or funds for the benefit of designated beneficiaries. For example, it may specify which assets are included in the trust and how they are to be managed or distributed. The core function of this clause is to clearly delineate the scope of the trust's authority over the funds, ensuring transparency and proper administration of the assets in accordance with the trust's purpose.
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The Trust and the Funds. Each of the Funds may be deemed commodity pools for purposes of the Commodity Exchange Act of 1936, as amended (the “Commodity Exchange Act”) and the applicable regulations of the Commodity Futures Trading Commission. Each of the Funds is sponsored by the Sponsor, a commodity pool operator registered under the Commodity Exchange Act. Neither the Trust nor any Fund is an investment company under the Investment Company Act of 1940 (the “Investment Company Act”) and neither is required to register thereunder. The Sponsor is not registered as an investment adviser under the Investment Advisers Act of 1940 and is not required to register thereunder.
The Trust and the Funds. As of the date of this Agreement, neither the Trust nor any Fund is (i) an investment company under the Investment Company Act of 1940 (the “1940 Act”) and (ii) required to register as such thereunder. As of the date of this Agreement, the Sponsor is not registered as an investment adviser under the Investment Advisers Act of 1940 and is not required to register as such thereunder.
The Trust and the Funds. (a) The Trust is a Delaware statutory trust with the authority to issue one or more separate series as provided in its Trust Agreement. The Trust is managed by Teucrium as an agent of the Trust, and the Trust’s business is controlled and conducted solely by Teucrium in accordance with the Trust Agreement. Teucrium has and may exercise on behalf of the Trust and pursuant to the Trust Agreement, all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Trust. Pursuant to the terms of the Trust Agreement, Teucrium has the sole power to determine the gross management fee charged by Teucrium with respect to a Fund (the “Unitary Fee”).
(b) Each series listed in Appendix A is a separate series of the Trust that is subject to this Agreement. The term “Fund” as used herein refers to any and all series listed in Appendix A. Teucrium and Client may add additional series by amending Appendix A, such amendment to be executed by each of the parties in writing.
(c) Each Fund shall pay to Teucrium a Unitary Fee as described in Section 2(c) of this Agreement.
(d) Teucrium agrees to take or cause to be taken any and all actions necessary in order to lawfully create and operate the Funds, including, but not limited to, (i) filing original and amended registration statements or any other documents with the SEC under the Securities Act and the Securities Exchange of 1934, as amended, (ii) communicating with the Fund’s listing exchange and applying for listing, (iii) obtaining ticker symbols, tax IDs, ▇▇▇▇▇ codes and performing other administrative tasks, (iv) negotiating and entering into service provider agreements, (v) managing service providers, and (vi) paying the Fund’s Operational Expenses (as defined below).
(e) Client agrees to provide certain financial support for the Funds as outlined in Section 2(c)(ii)(4), below.
The Trust and the Funds. The Trust and each of the Funds may be deemed commodity pools for purposes of the Commodity Exchange Act, as amended (the “Commodity Exchange Act”) and the applicable regulations of the Commodity Futures Trading Commission (the “CFTC”). The Sponsor shall serve as the sponsor and commodity pool operator of each Fund pursuant to an amended and restated declaration of Trust between the Sponsor and Wilmington Trust, N.A., a national banking association (the “Trust Agreement”).