Common use of AUTHORITY OF THE SPONSOR Clause in Contracts

AUTHORITY OF THE SPONSOR. (a) The management and operation of Systematic Momentum FuturesAccess and the determination of its policies shall be vested exclusively in the Sponsor. The Sponsor shall have the authority and power on behalf and in the name of Systematic Momentum FuturesAccess to carry out any and all of the objectives and purposes of Systematic Momentum FuturesAccess set forth in Section 1.01: make, execute, sign and file a Certificate of Formation of Systematic Momentum FuturesAccess, any amendments thereto authorized herein, any amendments to this Agreement authorized herein, and all such other instruments, documents and certificates, which may, from time to time, be required by, or deemed advisable by the Sponsor under, the laws of the United States of America, the State of Delaware, the State of New Jersey, the State of New York or any other state or political subdivision in which the Sponsor shall determine that Systematic Momentum FuturesAccess shall do business, to effectuate, implement and continue the valid existence of Systematic Momentum FuturesAccess; and perform all acts and enter into, execute and perform all contracts and other undertakings which the Sponsor may deem necessary or advisable in connection with such objectives and purposes or incidental thereto. All actions and determinations to be made by the Sponsor hereunder shall, unless otherwise expressly provided, be made in the Sponsor’s sole and absolute discretion.

AUTHORITY OF THE SPONSOR. (a) The management and operation of Systematic Momentum FuturesAccess and the determination of its policies shall be vested exclusively in the Sponsor. The Sponsor shall have the authority and power on behalf and in the name of Systematic Momentum FuturesAccess to carry out any and all of the objectives and purposes of Systematic Momentum FuturesAccess set forth in Section 1.01: make, execute, sign and file a Certificate of Formation of Systematic Momentum FuturesAccess, any amendments thereto authorized herein, any amendments to this Agreement authorized herein, and all such other instruments, documents and certificates, which may, from time to time, be required by, or deemed advisable by the Sponsor under, the laws of the United States of America, the State of Delaware, the State of New Jersey, the State of New York or any other state or political subdivision in which the Sponsor shall determine that Systematic Momentum FuturesAccess shall do business, to effectuate, implement and continue the valid existence of Systematic Momentum FuturesAccess; and perform all acts and enter into, execute and perform all contracts and other undertakings which the Sponsor may deem necessary or advisable in connection with such objectives and purposes or incidental thereto. All actions and determinations to be made by the Sponsor hereunder shall, unless otherwise expressly provided, be made in the Sponsor’s 's sole and absolute discretion.