UNG lowers ISDA termination threshold with Societe Generale to $200M from $1.5B

United States Natural Gas Fund, LP

As of October 13, 2026, United States Natural Gas Fund amended its ISDA 2002 Master Agreement with Societe Generale, originally entered June 13, 2022.
The amendment cuts UNG's 'Total Net Assets Decline Event' Additional Termination Event threshold from $1.5 billion to $200,000,000.
All other Party B entities listed on Appendix I keep the $1.5 billion TNA decline threshold; UNG is the only one reduced to $200M.
The filing states the lower threshold reflects UNG's performance and is meant to prevent the TNA ATE triggering absent a credit event for the Registrant.
Amendment signed by UNG general partner USCF's President and CEO John P. Love; Societe Generale signed via director Roberto Peralta.

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