Common use of Counterparty Collateral Account Clause in Contracts

Counterparty Collateral Account. In respect of a Derivatives Series, the Depositor shall cause each Derivative Counterparty to establish, a collateral account in its name with The Bank of New York Mellon, as custodian (the “Counterparty Collateral Custodian”) into which the Derivative Counterparty shall deposit Derivative Counterparty assets which shall be subject to a lien of the Series Trustee, on behalf of the Series, to secure the performance of the Derivative Counterparty’s obligations to the Trust under the related Derivative Agreement. The Depositor shall cause the terms of the Credit Support Agreement to provide that (i) all assets in the Counterparty Collateral Account shall remain under the sole dominion of the Counterparty Collateral Custodian and shall not be subject to transfer, use or rehypothecation except upon instruction of: (A) the Derivative Counterparty in accordance with the Credit Support Agreement, or, (B) upon an event of default under the Derivative Agreement in which the Derivative Counterparty is the defaulting party, the Depositor, on behalf of the Series and (ii) the Counterparty Collateral Custodian shall provide reporting concerning the assets of the Counterparty Collateral Account and all credits and debits thereto in form and substance satisfactory to the Depositor. Except for the security interest and related rights and remedies under the Derivative Agreement in favor of the Series, the assets of the Counterparty Collateral Account are not otherwise Series assets.

Counterparty Collateral Account. In respect of a Derivatives SeriesTrust, the Depositor shall cause each Derivative Counterparty to establish, a collateral account in its name with [The Bank of New York Mellon], as custodian (the “Counterparty Collateral Custodian”) into which the Derivative Counterparty shall deposit Derivative Counterparty assets which shall be subject to a lien of the Series Trustee, on behalf of the SeriesTrust, to secure the performance of the Derivative Counterparty’s obligations to the Trust under the related Derivative Agreement. The Depositor shall cause the terms of the Credit Support Agreement to provide that (i) all assets in the Counterparty Collateral Account shall remain under the sole dominion of the Counterparty Collateral Custodian and shall not be subject to transfer, use or rehypothecation except upon instruction of: (A) the Derivative Counterparty in accordance with the Credit Support Agreement, or, (B) upon an event of default under the Derivative Agreement in which the Derivative Counterparty is the defaulting party, the Depositor, on behalf of the Series Trust and (ii) the Counterparty Collateral Custodian shall provide reporting concerning the assets of the Counterparty Collateral Account and all credits and debits thereto in form and substance satisfactory to the Depositor. Except for the security interest and related rights and remedies under the Derivative Agreement in favor of the SeriesTrust, the assets of the Counterparty Collateral Account are not otherwise Series Trust assets.

Counterparty Collateral Account. In respect For the Series [—] of a Derivatives SeriesTrust, the Depositor shall cause each Derivative Counterparty to establish, a collateral account (the “Counterparty Collateral Account”) in its name with [The Bank of New York Mellon], as custodian (the “Counterparty Collateral Custodian”) into which and shall cause the Derivative Counterparty shall to deposit Derivative Counterparty assets which therein. The Depositor shall be subject take such actions as the Depositor shall determine appropriate to establish a lien on the assets of the Counterparty Collateral Account in favor of the Series Trustee, on behalf [—] of the SeriesTrust, to secure the performance of the Derivative Counterparty’s obligations to the Series [—] of Trust under the related Derivative Agreement. The Depositor shall cause the terms of the Credit Support Agreement to provide that (i) all assets in the Counterparty Collateral Account shall remain under the sole dominion of the Counterparty Collateral Custodian and shall not be subject to transfer, use or rehypothecation except upon instruction of: (A) the Derivative Counterparty in accordance with the Credit Support Agreement, or, (B) upon an event of default under the Derivative Agreement in which the Derivative Counterparty is the defaulting party, the Depositor, on behalf of the Series [—] of Trust and (ii) the Counterparty Collateral Custodian shall provide reporting concerning the assets of the Counterparty Collateral Account and all credits and debits thereto in form and substance satisfactory to the Depositor. Except for the security interest and related rights and remedies under the Derivative Agreement in favor of the SeriesSeries [—] of Trust, the assets of the Counterparty Collateral Account are not otherwise Series [—] of Trust assets.. The collateral account control agreement, including custody account terms and conditions, governing the Counterparty Collateral Account is attached as Annex B.