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 to the Trust Index Futures and Collateral Assets under this Agreement, shall be deemed thereby to represent and warrant that (i) such Index Futures and Collateral Assets constitute, and meet all the requirements of, 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 Index Futures, the rights of the applicable Futures Exchange under its rules). All representations and warranties deemed to be made under this Section 3.3 shall survive the Delivery of a Basket Amount, Delivery or Surrender of Shares or termination of this Agreement.