Company: DEFI
Filing Date: 2025-03-25
Form Type: POS AM
Source: 0001999371-25-003118
Chunk: 156

Company: Tidal Commodities Trust I
Filing Date: 2025-03-25
Form: POS AM
Chunk 156
---
 by a Shareholder (including, without limitation, the presentation of a global certificate for exchange)
only at the direction of one or more DTC purchasers in whose account with DTC interests in global certificates are credited and
only in respect of such portion of the aggregate principal amount of the global certificate as to which such DTC purchaser or purchasers
has or have given such direction.

<div align='center'>92</div>

Inter-Series Limitation on Liability

Because the Trust was established as a Delaware
statutory trust, the Fund and each other series that may be established under the Trust in the future will be operated so that
it will be liable only for obligations attributable to such series and will not be liable for obligations of any other series or
affected by losses of any other series. If any creditor or Shareholder of any particular series (such as the Fund) asserts against
the series a valid claim with respect to its indebtedness or Shares, the creditor or Shareholder will only be able to obtain recovery
from the assets of that series and not from the assets of any other series or the Trust generally. The assets of the Fund and any
other series will include only those funds and other assets that are paid to, held by or distributed to the series on account of
and for the benefit of that series, including, without limitation, amounts delivered to the Trust for the purchase of Shares in
a series. This limitation on liability is referred to as the Inter-Series Limitation on Liability. The Inter-Series Limitation
on Liability is expressly provided for under the Delaware Statutory Trust Act, which provides that if certain conditions (as set
forth in Section 3804(a)) are met, then the debts of any particular series will be enforceable only against the assets of such
series and not against the assets of any other series or the Trust generally. In furtherance of the Inter-Series Limitation on
Liability, every party providing services to the Trust, the Fund or the Sponsor on behalf of the Trust or the Fund, will acknowledge
and consent in writing to the Inter-Series Limitation on Liability with respect to such party’s claims.

The existence of a Trustee should not be
taken as an indication of any additional level of management or supervision over the Fund. Consistent with Delaware law, the Trustee
acts in an entirely passive role, delegating all authority for the management and operation of the Fund and the Trust to the Sponsor.
The Trustee does not provide custodial services with respect to the assets