Common use of Establishment of Collateral Accounts Clause in Contracts

Establishment of Collateral Accounts. AP, from time to time, may be required to deliver to State Street, by any of the means mutually agreed to among the AP, State Street and the Trust, certain U.S. cash for the benefit of the Trust. Subject to the agreement of all parties to this Agreement and such terms, procedures and additional documentation (including any amendments or supplements to this Agreement) as agreed to by the parties, AP may deliver to State Street certain U.S. treasury securities, or other U.S. securities to secure the AP's obligations to the Trust under the AP Agreement. Any such U.S. cash, U.S. treasury securities, or other U.S. securities delivered to State Street or held by State Street hereunder whether now owned or hereafter acquired (collectively the "Deposits") together with the Collateral Accounts (hereinafter defined) shall be collectively referred to as the "Collateral." State Street shall segregate and deposit in one or more separate deposit accounts any cash Deposits and hold them under the name "[ ] for the benefit of iShares® S&P GSCI™ Commodity-Indexed Trust" (the separate deposit account(s) shall be referred to herein, collectively, as, the "Deposit Account"). Non-cash Deposits shall be identified and segregated in one or more separate securities accounts on State Street's books and records under the name "[ ] for the benefit of iShares® S&P GSCI™ Commodity-Indexed Trust" (the separate securities account(s) shall be referred to herein, collectively, as, the "Securities Account" and, together with the Deposit Account, whether now owned or hereafter acquired as (the "Collateral Accounts"). State Street will hold the Collateral in, and credit such Collateral to, the applicable Collateral Account, segregated from property in which State Street has an exclusive and proprietary interest. All assets in the Securities Account shall be financial assets under Article 8 of the Uniform Commercial Code, as in effect from time to time in the State of New York (the "UCC"). The parties hereto agree and acknowledge that the Securities Account shall not include the Deposit Account and that the Securities Account is separate from the Deposit Account. Based on information provided to State Street under the Service Agreement, State Street shall identify on its books and records the Collateral in the Collateral Accounts. The Trust and AP agree that AP will be deemed to have satisfied its obligation pursuant to the AP Agreement when State Street holds Deposits in the Collateral Accounts with a value equal to or greater than the value of the applicable collateral requirement under the AP Agreement or any collateral procedures incidental thereto. The value of the applicable collateral requirement shall be determined by the Trustee in accordance with the Trust Agreement (as defined in the AP Agreement), and the value of any Collateral may be discounted by the Trustee (including to zero) to the extent it consists of non-cash assets (including Identified Securities, as hereinafter defined) not readily capable of being liquidated or transferred by State Street in connection with creations and redemptions of iShares (as defined in the AP Agreement).

Establishment of Collateral Accounts. APOn or prior to the Closing Date, from time to time, may be required to deliver to State Street, by any of the means mutually agreed to among the AP, State Street Borrower and the Trust, certain U.S. cash for Collateral Agent shall cause to be established at the benefit of Securities Intermediary the Trust. Subject to the agreement of all parties to this Agreement and such terms, procedures and additional documentation (including any amendments or supplements to this Agreement) as agreed to by the parties, AP may deliver to State Street certain U.S. treasury securities, or other U.S. securities to secure the AP's obligations to the Trust under the AP Agreement. Any such U.S. cash, U.S. treasury securities, or other U.S. securities delivered to State Street or held by State Street hereunder whether now owned or hereafter acquired (collectively the "Deposits") together with the Collateral Accounts (hereinafter defined) shall be collectively referred to as the "Collateral." State Street shall segregate and deposit in one or more separate deposit accounts any cash Deposits and hold them under the name "[ ] for the benefit of iShares® S&P GSCI™ Commodity-Indexed Trust" (the separate deposit account(s) shall be referred to herein, collectively, asRevenue Account, the "Deposit Disbursement Account"). Non-cash Deposits shall be identified and segregated in one or more separate securities accounts on State Street's books and records under the name "[ ] for the benefit of iShares® S&P GSCI™ Commodity-Indexed Trust" (the separate securities account(s) shall be referred to herein, collectively, as, the "Securities Account" and, together with the Deposit Distribution Reserve Account, whether now owned or hereafter acquired as (the "Collateral Accounts"). State Street will hold the Collateral in, and credit such Collateral toLiquidated Damages Account, the applicable Collateral Loss Proceeds Account, segregated from property in which State Street has an exclusive the Additional Payment Account, the Debt Service Reserve Account and proprietary interestthe O&M Reserve Account. All assets in the Securities Each Collateral Account shall be financial assets under Article 8 a “securities account” within the meaning of Section 8-501 of the Uniform Commercial Code, as Code in effect from time to time in the State of New York York. In accordance with the terms of the Collateral Documents, the Borrower has pledged, assigned and transferred to the Collateral Agent for the equal and ratable benefit of the Secured Parties, and has granted to the Collateral Agent for the equal and ratable benefit of the Secured Parties a first-priority, perfected lien on and security interest in, all of its right, title and interest in, to and under the Collateral Accounts, any Permitted Investments (or any other property) held in or credited to the "UCC"Collateral Accounts and the proceeds of any such Permitted Investments (or such other property). The parties hereto agree Borrower hereby irrevocably confirms the authority of the Collateral Agent and acknowledge that the Administrative Agent to (and directs and authorizes the Collateral Agent and the Administrative Agent, as applicable, to) instruct the Securities Account shall not include the Deposit Account Intermediary to deposit into and that the Securities Account is separate remit funds from the Deposit Account. Based on information provided to State Street under the Service Agreement, State Street shall identify on its books and records the Collateral in the Collateral Accounts. The Trust and AP agree that AP will be deemed to have satisfied its obligation pursuant to the AP Agreement when State Street holds Deposits in the such Collateral Accounts with a value equal to or greater than the value of the applicable collateral requirement under the AP Agreement or any collateral procedures incidental thereto. The value of the applicable collateral requirement shall be determined by the Trustee in accordance with the Trust terms and conditions of this Agreement and the Collateral Documents. The Secured Parties and the Borrower acknowledge and agree that neither the Collateral Agent nor the Administrative Agent shall be required to instruct the Securities Intermediary to transfer, withdraw or otherwise deal with any funds on deposit or credited to any of the Collateral Accounts except upon written instructions (as defined to be provided in the AP Agreementform prescribed for the applicable purpose in the Financing Documents, such as a Withdrawal Transfer Certificate) to do so from the Administrative Agent, and, if expressly so provided herein, the Borrower. In addition, the Collateral Agent shall be entitled to seek instructions from the Administrative Agent or the Secured Parties as to the exercise of any of its rights, powers, authorities or discretions hereunder or under any other Financing Document (including any consents, notices, requests, amendments, waivers, modifications, acceptances or remedies (including, for the avoidance of doubt, the making of any draws under, delivering any certificates in connection with, surrendering, or otherwise taking actions related to, any letter or letters of credit of which the Collateral Agent is a beneficiary as part of the transactions contemplated by the Financing Documents)), and in the value event that it does so, it shall not be considered as having acted unreasonably, and shall be fully protected from liability, when acting in accordance with such instructions or, in the absence of any Collateral may be discounted by the Trustee (including to zeroor any clear) to the extent it consists of non-cash assets (including Identified Securitiesinstructions, as hereinafter defined) not readily capable of being liquidated when refraining from taking any action or transferred by State Street in connection with creations and redemptions of iShares (as defined in the AP Agreement)exercising any right, power or discretion under any Financing Documents.

Establishment of Collateral Accounts. AP, from time to time, may be required to deliver to State Street, by any of the means mutually agreed to among the AP, State Street and the Trust, certain U.S. cash for the benefit of the Trust. Subject to the agreement of all parties to this Agreement and such terms, procedures and additional documentation (including any amendments or supplements to this Agreement) as agreed to by the parties, AP may deliver to State Street certain U.S. treasury securities, or other U.S. securities to secure the AP's ’s obligations to the Trust under the AP Agreement. Any such U.S. cash, U.S. treasury securities, or other U.S. securities delivered to State Street or held by State Street hereunder whether now owned or hereafter acquired (collectively the "“Deposits"”) together with the Collateral Accounts (hereinafter defined) shall be collectively referred to as the "“Collateral." ” State Street shall segregate and deposit in one or more separate deposit accounts any cash Deposits and hold them under the name "“[ ] for the benefit of iShares® S&P GSCI™ CommodityDow Xxxxx-Indexed UBS Roll Select Commodity Index Trust" ” (the separate deposit account(s) shall be referred to herein, collectively, as, the "“Deposit Account"”). Non-cash Deposits shall be identified and segregated in one or more separate securities accounts on State Street's ’s books and records under the name "“[ ] for the benefit of iShares® S&P GSCI™ CommodityDow Xxxxx-Indexed UBS Roll Select Commodity Index Trust" ” (the separate securities account(s) shall be referred to herein, collectively, as, the "“Securities Account" ” and, together with the Deposit Account, whether now owned or hereafter acquired as (the "“Collateral Accounts"”). State Street will hold the Collateral in, and credit such Collateral to, the applicable Collateral Account, segregated from property in which State Street has an exclusive and proprietary interest. All assets in the Securities Account shall be financial assets under Article 8 of the Uniform Commercial Code, as in effect from time to time in the State of New York (the "“UCC"”). The parties hereto agree and acknowledge that the Securities Account shall not include the Deposit Account and that the Securities Account is separate from the Deposit Account. Based on information provided to State Street under the Service Agreement, State Street shall identify on its books and records the Collateral in the Collateral Accounts. The Trust and AP agree that AP will be deemed to have satisfied its obligation pursuant to the AP Agreement when State Street holds Deposits in the Collateral Accounts with a value equal to or greater than the value of the applicable collateral requirement under the AP Agreement or any collateral procedures incidental thereto. The value of the applicable collateral requirement shall be determined by the Trustee in accordance with the Trust Agreement (as defined in the AP Agreement), and the value of any Collateral may be discounted by the Trustee (including to zero) to the extent it consists of non-cash assets (including Identified Securities, as hereinafter defined) not readily capable of being liquidated or transferred by State Street in connection with creations and redemptions of iShares (as defined in the AP Agreement).