19 unchanged sentences
Therefore, it may not be possible for USCF to modify, terminate or offset USL’s obligations or its exposure to the risks associated with a transaction prior to its scheduled termination date.
−Removed: To reduce the credit risk that arises in connection with such contracts, USL will generally enter into an agreement with each counterparty based on the Master Agreement published by the International Swaps and Derivatives Association that provides for the netting of its overall exposure to its counterparty, if the counterparty is unable to meet its obligations to USL due to the occurrence of a specified event, such as the insolvency of the counterparty.
+Added: To reduce the credit risk that arises in connection with such contracts, USL will generally enter into an agreement with each counterparty based on the Master Agreement published by the International Swaps and Derivatives Association that provides for the netting of its overall exposure to its counterparty, if the counterparty is unable to meet its obligations to USL due to the occurrence of a specified event, such as the insolvency of the counterparty, and requires the posting by each party to cover the mark - to - market exposure of a counterparty to the other counterparty, and requires the posting by each party to cover the mark-to-market exposure of a counterparty to the other counterparty.
USCF assesses or reviews, as appropriate, the creditworthiness of each potential or existing counterparty to an OTC swap pursuant to guidelines approved by USCF’s board of directors (the “Board”).
7 unchanged sentences
As a result, it may be difficult to obtain an independent value for an outstanding OTC derivatives transaction.
−Removed: During the reporting period of this annual report on Form 10-K, USL has limited its OTC activities to Oil Futures Contracts EFRP transactions.
+Added: During the reporting period of this annual report on Form 10-K, USL limited its OTC derivatives activities to EFRP transactions.
USL anticipates that the use of Other Oil-Related Investments together with its investments in Oil Futures Contracts will produce price and total return results that closely track the investment goals of USL.
2 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.