Common use of Advice Clause in Contracts

Advice. All advice communicated by Morgan Stanley with respect to any Account opened by Customer hereunxxx xx xxxxxxxtal to the conduct of Morgan Stanley's business as a futures commission merchant and such xxxxxx xxxx xxx serve as the primary basis for any decision made by or on behalf of Customer in respect of the Account, regardless of whether Customer relies on the advice of Morgan Stanley in making any such decision. Customer acknowledges thxx Xxxgxx Xxxxley and its managing directors, officers, employees and axxxxxxtxx xxx take or hold positions in, or advise other customers concerning, Contracts that are the subject of advice from Morgan Stanley to Customer. The positions and advice of Morgan Stanlxx xxx xxx xxxaging directors, officers, employees and axxxxxxtxx xxx be inconsistent with or contrary to positions of, and the advice given by, Morgan Stanley to Customer.

Advice. All advice communicated by Morgan Stanley with respect to any Account opened by Customer hereunxxx xx xxxxxxxtal hereuxxxx xs xxxxxxntal to the conduct of Morgan Stanley's business as a futures commission merchant and such xxxxxx xxxx xxx serve as the primary basis for any decision made by or on behalf of Customer in respect of the Account, regardless of whether Customer relies on the advice of Morgan Stanley in making any such decision. Customer acknowledges thxx Xxxgxx Xxxxley txxx Xxrxxx Xxxnley and its managing directors, officers, employees and axxxxxxtxx xxxxxxaxxx xxx take or hold positions in, or advise other customers concerning, Contracts that are the subject of advice from Morgan Stanley to Customer. The positions and advice of Morgan Stanlxx Stanxxx xxd xxx xxx xxxaging xxnaging directors, officers, employees and axxxxxxtxx xxxxxxaxxx xxx be inconsistent with or contrary to positions of, and the advice given by, Morgan Stanley to Customer.

Advice. All advice communicated by Morgan Stanley with respect to any Account opened by Customer hereunxxx herxxxxxx xx xxxxxxxtal xxxxdental to the conduct of Morgan Stanley's business as a futures commission merchant and such suxx xxxxxx xxxx xxx xot serve as the primary basis for any decision made by or on behalf of Customer in respect of the Account, regardless of whether Customer relies on the advice of Morgan Stanley in making any such decision. Customer acknowledges thxx Xxxgxx Xxxxley xxxx Mxxxxx Xtanley and its managing directors, officers, employees and axxxxxxtxx xxx anx xxxxlxxxxx xay take or hold positions in, or advise other customers concerning, Contracts that are the subject of advice from Morgan Stanley to Customer. The positions and advice of Morgan Stanlxx Stxxxxx axx xxx xxx xxxaging managing directors, officers, employees and axxxxxxtxx xxx anx xxxxlxxxxx xay be inconsistent with or contrary to positions of, and the advice given by, Morgan Stanley to Customer.

Advice. All advice communicated by Morgan Stanley with respect to any Account opened by Customer hereunxxx xx xxxxxxxtal herexxxxx ix xxxxxental to the conduct of Morgan Stanley's business as a futures commission merchant and such sucx xxxxxx xxxx xxx xxt serve as the primary basis for any decision made by or on behalf of Customer in respect of the Account, regardless of whether Customer relies on the advice of Morgan Stanley in making any such decision. Customer acknowledges thxx Xxxgxx Xxxxley xxxx Xoxxxx Xxanley and its managing directors, officers, employees and axxxxxxtxx xxx xxxxxixxxx xxy take or hold positions in, or advise other customers concerning, Contracts that are the subject of advice from Morgan Stanley to Customer. The positions and advice of Morgan Stanlxx Staxxxx xnx xxx xxx xxxaging xanaging directors, officers, employees and axxxxxxtxx xxx xxxxxixxxx xxy be inconsistent with or contrary to positions of, and the advice given by, Morgan Stanley to Customer.