CFTC. The Adviser acknowledges that the Sub-Adviser does not currently intend to register with the Commodity Futures Trading Commission (“CFTC”) as a “commodity trading advisor” under the Commodity Exchange Act of 1936, as amended (the “CEA”) in reliance upon one or more exemptions from such registration requirement. The Adviser shall notify the Sub-Adviser if the aggregate net notional value of the Fund’s commodity futures, commodity options contracts, or swaps positions, determined at the time the most recent position was established, exceeds 85% of the liquidation value of the Fund’s portfolio, after taking into account unrealized profits and unrealized losses on any such positions entered into.
Appears in 2 contracts
Sources: Investment Sub Advisory Agreement (Alliancebernstein Cap Fund, Inc.), Investment Sub Advisory Agreement (Alliancebernstein Cap Fund, Inc.)