Puts, Calls and Futures Traded on Commodities Clause Samples

The "Puts, Calls and Futures Traded on Commodities" clause defines the rules and conditions under which parties may engage in options and futures contracts related to commodities. It typically outlines the types of permissible transactions, such as buying or selling put and call options or entering into futures contracts for commodities like oil, metals, or agricultural products, and may specify requirements for margin, settlement, or delivery. This clause ensures that both parties understand the scope of allowable trading activities and helps manage the risks associated with derivative transactions on commodities.
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Puts, Calls and Futures Traded on Commodities. 1. The Bank shall take action as to puts, calls and futures contracts ("Futures") purchased or sold by the Trust in accordance with the provisions of any agreement among the Trust, the Bank and a Futures Commission Merchant registered under the Commodity Exchange Act, relating to compliance with the rules of the Commodity Futures Trading Commission and/or any Contract Market, or any similar organization or organizations, regarding account deposits in connection with transactions by the Trust. 2. The responsibilities and liabilities of the Bank as to Futures, puts and calls traded on commodities exchanges, any Futures Commission Merchant account and the Segregated Account shall be limited as set forth in subparagraph (a)(2) of this Section 6.3 as if such subparagraph referred to Futures Commission Merchants rather than brokers, and Futures and puts and calls thereon instead of options.
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Puts, Calls and Futures Traded on Commodities. Exchanges (i) The Bank shall take action, upon receipt of Proper Instructions, as to puts, calls and futures contracts ("futures") purchased or sold by a Master Portfolio in accordance with the provisions of any agreement among the Trust, on behalf of a Master Portfolio, the Bank and a Futures Commission Merchant registered under the Commodity Exchange Act, relating to compliance with the rules of the Commodity Futures Trading Commission and/or any Contract Market, or any similar organization(s), regarding account deposits in connection with transactions by the Master Portfolio. (ii) The responsibilities and liabilities of the Bank as to futures, puts and calls traded on commodities exchanges, any Futures Commission Merchant account and the Segregated Account shall be limited as set forth in subparagraph (a)(ii) of this subsection 6.9 as if such subparagraph referred to Futures Commission Merchants rather than brokers, and futures and puts and calls thereon instead of options.
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