Common use of Warranties on Delivery of Basket Amount Clause in Contracts

Warranties on Delivery of Basket Amount. Every Depositor, at the time it Delivers CERFs, Short-Term Securities or cash under this Agreement, shall be deemed thereby to represent and warrant that (i) such CERFs, Short-Term Securities and/or cash meet the requirements to be a Basket Amount, (ii) such Depositor is duly authorized to make such Delivery, and (iii) the assets comprising such Basket Amount are free and clear of any lien, pledge, encumbrance, right, charge or claim (other than the rights created by this Agreement and, in respect of CERFs, the rights of the CME under its rules). All representations and warranties deemed to be made under this Section 3.2 shall survive the Delivery of a Basket Amount, Delivery or Surrender of Shares or termination of this Agreement.

Warranties on Delivery of Basket Amount. Every Depositor, at the time it Delivers Person Delivering CERFs, cash or Short-Term Securities or cash under this Agreement, Agreement shall be deemed thereby to represent and warrant that (i) such the CERFs, cash or Short-Term Securities and/or cash meet the requirements to be a Basket Amount, (ii) the Person making such Depositor Delivery is duly authorized to make such Deliverydo so, and (iii) at the time of Delivery, the assets comprising such Basket Amount are free and clear of any lien, pledge, encumbrance, right, charge or claim (other than the rights created by this Agreement and, in respect of CERFs, the rights of the CME under its rules). All representations and warranties deemed to be made under this Section 3.2 shall survive the Delivery of a Basket Amount, Delivery or Surrender of Shares or termination of this Agreement.