Authorised Participant Terms and Conditions.

You must accept these terms and conditions before you will be able to use this on-line dealing tool (the “System”) for the purposes of the Authorised Participant Agreement relating to GraniteShares Financial Plc and/or the Authorised Participant Agreement relating to GraniteShares Financial Plc (each an “Authorised Participant Agreement”) between GraniteShares Financial Plc, GraniteShares Limited and the person who has notified GraniteShares Financial Plc that you are an Authorised User for the purpose of the Authorised Participant Agreement. Defined terms used in these terms and conditions and not defined herein shall have the meaning given to them in the relevant Authorised Participant Agreement.

By accepting these terms and conditions and in using the System you agree that:

  1. You represent warrant and undertake to GraniteShares Financial Plc and GraniteShares Ltd that you are authorised on behalf of your employer to access the System with the authority applicable to your authorisation level as described in the AP User Guide;
  2. You represent warrant and undertake to GraniteShares Financial Plc and GraniteShares Ltd that you are the person to whom the username and password used to access the System were properly issued;
  3. You acknowledge that your access to the System may be terminated at any time without notice in the event that your employer breaches its agreement with GraniteShares Financial Plc or you breach any of the conditions of your access to the System or otherwise as GraniteShares Financial Plc may determine;
  4. You agree to use reasonable efforts to prevent the transmission by you through the System of any software or file which contains any viruses, worms, harmful component or corrupted data and agree not to use any device, software, or routine to interfere or attempt to interfere with the proper working of the System; and
  5. You acknowledge that any Material which is delivered or made available to AP or any Authorised User regarding the System is the exclusive and confidential property of GraniteShares Ltd and GraniteShares Inc and its suppliers and that you shall keep the Material confidential by using the same care and discretion that you use with respect to your employer's confidential property and trade secrets;
provided that AP may disclose the Material if and to the extent required to do so by any law, court or regulatory agency or authority or stock exchange or in connection with any legal proceedings.

Upon termination of you access to the System for any reason, you shall, provided that such documents and Materials are in a form which is capable of delivery, return to GraniteShares Financial Plc and GraniteShares Ltd all copies of the Material which are in you possession or under your control, provided that AP may retain any automatically generated back-up copies and any back-up copy required for the purpose of, and for so long as required by, any law, court or regulatory agency or authority or stock exchange or its internal compliance and diligence procedures and policies, such back-up copies to be subject to the confidentiality requirements set out in this paragraph (v).

Swap Provider Terms and Conditions.

You must accept these terms and conditions before you will be able to use this on-line dealing tool (the “System”) for the purposes of the Facility Agreement relating to GraniteShares Financial Plc and/or the Facility Agreement relating to Short and Leveraged Commodity Contracts (each a “Facility Agreement”) between Granitesahres and the person who has notified GraniteShares Financial Plc that you are an Authorised User for the purpose of the Facility Agreements. Defined terms used in these terms and conditions and not defined herein shall have the meaning given to them in the relevant Facility Agreement.

By accepting these terms and conditions and in using the System you agree that:

  1. You represent warrant and undertake to GraniteShares Financial Plc and GraniteShares Limited that you are authorised on behalf of your employer to access the System [];
  2. You represent warrant and undertake to GraniteShares Financial Plc and GraniteShares that you are the person to whom the username and password used to access the System were properly issued;
  3. You acknowledge that your access to the System may be terminated at any time without notice in the event that your employer breaches its agreement with GraniteShares Financial Plc or you breach any of the conditions of your access to the System or otherwise as GraniteShares Financial Plc may determine;
  4. You agree to use reasonable efforts to prevent the transmission by you through the System of any software or file which contains any viruses, worms, harmful component or corrupted data and agree not to use any device, software, or routine to interfere or attempt to interfere with the proper working of the System; and
  5. You acknowledge that any Material which is delivered or made available to the Swap Provider or any Authorised User regarding the System is the exclusive and confidential property of GraniteShares and its suppliers and that you shall keep the Material confidential by using the same care and discretion that you use with respect to your employer's confidential property and trade secrets;
provided that the Swap Provider may disclose the Material if and to the extent required to do so by any law, court or regulatory agency or authority or stock exchange or in connection with any legal proceedings.

Upon termination of your access to the System for any reason, you shall, provided that such documents and Materials are in a form which is capable of delivery, return to GraniteShares Financial Plc all copies of the Material which are in your possession or under your control, provided that the Commodity Contract Counterparty may retain any automatically generated back-up copies and any back-up copy required for the purpose of, and for so long as required by, any law, court or regulatory agency or authority or stock exchange or its internal compliance and diligence procedures and policies, such back-up copies to be subject to the confidentiality requirements set out in this paragraph (v).

By acknowledging and/or confirming Application Orders and Redemption Orders in the System you confirm the Swap Provider's acceptance of the relevant Application Order or Redemption Order for the purposes of the Creation of the Equivalent Number of Swap corresponding with the number and class of Commodity Securities to which such Application Order or Redemption Order relates.