Common use of Appointment of Warrant Agent Clause in Contracts

Appointment of Warrant Agent. The Depositor hereby appoints the Warrant Agent as agent to (i) receive for the benefit of the Warrantholders pending payment to the Trust in connection with exercise of the Warrants from time to time, the Call Price amounts paid to the Warrant Agent, (ii) receive for the benefit of the Warrantholders, in connection with exercise of the Warrants from time to time, the Units deemed tendered to the Trust pursuant to Section 1.2, and the Trust Property received pursuant to the related Optional Exchange pending delivery thereof to the relevant Warrantholders and (iii) otherwise act on behalf of and for the benefit of the Trust, the Unitholders and the Warrantholders for purposes of this Agreement, and the Warrant Agent accepts such appointment for itself and its successors and assigns, subject to the terms and provisions hereof.