Common use of Delivery of Commodity Clause in Contracts

Delivery of Commodity. Subject to Clause 5.3, in respect of each open Futures/Option Contract for the Commodities Account which remains subsisting on the maturity date for settlement, you and me/us shall each have an obligation to make or take delivery (as the case may be) of the Commodity the subject matter of the Futures/Option Contract on the maturity date, provided that where, according to the rules of the relevant Exchange, Clearing House and/or market, the outstanding obligations of the buyer and seller of an open Futures/Option Contract shall be satisfied solely by cash settlement based on a difference in price or value, you or me/us (as the case may be) shall settle the open Futures/Option Contract by paying the relevant difference to the other on the maturity date of the relevant Futures/Option Contract. I/We shall take all necessary actions to enable me/us to effect due settlement of each open Futures/Option Contract on my/our behalf in accordance with the rules, regulations and requirements of the relevant exchange, clearing house and/or market.

Delivery of Commodity. Subject to Clause 5.3, in respect of each open Futures/Option Contract for the Commodities Account which remains subsisting on the maturity date for settlement, you and me/us shall each have an obligation to make or take delivery (as the case may be) of the Commodity the subject matter of the Futures/Option Contract on the maturity date, provided that where, according to the rules of the relevant Exchangeexchange, Clearing House clearing house and/or market, the outstanding obligations of the buyer and seller of an open Futures/Option Contract shall be satisfied solely by cash settlement based on a difference in price or value, you or me/us (as the case may be) shall settle the open Futures/Option Contract by paying the relevant difference to the other on the maturity date of the relevant Futures/Option Contract. I/We shall take all necessary actions to enable me/us to effect due settlement of each open Futures/Option Contract on my/our behalf in accordance with the rules, regulations and requirements of the relevant exchange, clearing house and/or market.