Common use of Commodity Broker Clause in Contracts

Commodity Broker. All Commodities trades for the account of the Trust shall be made through such commodity broker or brokers as the Managing Owner directs or otherwise as may be agreed upon in accordance with such order execution procedures as are agreed upon between the Advisor and the Managing Owner. The Advisor shall not have any authority or responsibility in selecting or supervising any broker for execution of Commodities trades of the Trust or for negotiating commission rates to be charged therefor. The Advisor shall not be responsible for determining that any such bank or broker used in connection with any Commodities transactions meets the financial requirements or standards imposed by the Trust's Trading Policies and Limitations. At the present time it is contemplated that the Trust will execute and clear all Commodities trades through Prudential Securities. The Advisor may, however, with the consent of the Managing Owner, execute transactions at such other broker(s), and upon such terms and conditions, as the Advisor and the Managing Owner agree if such broker(s) agree to "give up" all such transactions to Prudential Securities for clearance. To the extent that the Trust determines to utilize a broker or brokers other than Prudential Securities, it will consult with the Advisor prior to directing it to utilize such broker(s), and will not retain the services of such broker(s) over the reasonable objection of the Advisor.

Commodity Broker. All Commodities trades traded for the account of the Trust shall be made through such commodity broker or brokers brokers, or counterparty or counterparties, as the Managing Owner directs or otherwise as may be agreed upon in accordance with such order execution procedures as are agreed upon between the Advisor and the Managing Owner. The Except as set forth below, the Advisor shall not have any authority or responsibility in selecting or supervising any floor broker or counterparty for execution of Commodities trades of the Trust or for negotiating floor brokerage commission rates or other compensation to be charged therefor. The Advisor shall not be responsible for determining that any such bank broker or broker counterparty used in connection with any Commodities transactions meets the financial requirements or standards imposed by the Trust's Trading Policies and Limitations. At the present time time, it is contemplated that the Trust will execute and clear all Commodities trades through Prudential SecuritiesSecurities and its affiliates. The Advisor may, however, with the consent of the Managing Owner, such consent not to be unreasonably withheld, execute transactions at such other broker(s), firm(s) and upon such terms and conditions, conditions as the Advisor and the Managing Owner agree if such broker(sfirm(s) agree to "give up" all such transactions to Prudential Securities for clearance. To the extent that the Trust determines to utilize a broker or brokers counterparty other than Prudential Securities, it will consult with the Advisor prior to directing it to utilize such broker(s), broker or counterparty and will not retain the services of such broker(s) firm over the reasonable objection of the Advisor.

Commodity Broker. All Commodities trades traded for the account of the Trust shall be made through such commodity broker or brokers brokers, or counterparty or counterparties, as the Managing Owner directs or otherwise as may be agreed upon in accordance with such order execution procedures as are agreed upon between the Advisor and the Managing Owner. The Except as set forth below, the Advisor shall not have any authority or responsibility in selecting or supervising any broker floor brokers or counterparties for execution of Commodities trades of the Trust or for negotiating floor brokerage commission rates or other compensation to be charged therefor. The Advisor shall not be responsible for determining that any such bank broker or broker counterparty used in connection with any Commodities transactions meets the financial requirements or standards imposed by the Trust's Trading Policies and Limitations. At the present time time, it is contemplated that the Trust will execute and clear all Commodities trades through Prudential SecuritiesSecurities and its affiliates. The Advisor may, however, with the consent of the Managing Owner, such consent not to be unreasonably withheld, execute transactions at such other broker(s), firm(s) and upon such terms and conditions, conditions as the Advisor and the Managing Owner agree if such broker(sfirm(s) agree to "give up" all such transactions to Prudential Securities for clearance. To the extent that the Trust determines to utilize a broker or brokers counterparty other than Prudential Securities, it will consult with the Advisor prior to directing it to utilize such broker(s), broker or counterparty and will not retain the services of such broker(s) firm over the reasonable objection of the Advisor.

Commodity Broker. All Commodities trades for the account of the Trust shall be made through such commodity broker or brokers as the Managing Owner directs or otherwise as may be agreed upon in accordance with such order execution procedures as are agreed upon between the Advisor and the Managing Owner. The Advisor shall not have any authority or responsibility in selecting or supervising any broker for execution of Commodities trades of the Trust or for negotiating commission rates to be charged therefor. The Advisor shall not be responsible for determining that any such bank or broker used in connection with any Commodities transactions meets the financial requirements or standards imposed by the Trust's Trading Policies and Limitations. At the present time it is contemplated that the Trust will execute and clear all Commodities trades through Prudential Securities. The Advisor may, however, with the consent of the Managing Owner, execute transactions at such other broker(s), and upon such terms and conditions, as the Advisor and the Managing Owner agree if such broker(s) agree to "give up" all such transactions to Prudential Securities for clearance; attached hereto as Exhibit D is a list of executing brokers and their respective give-up fees to which the Managing Owner has given such consent. The Advisor agrees that each of its executing brokers will "give up" all transactions to Prudential Securities for clearance, and the Managing Owner will use its reasonable best efforts to ensure that Prudential Securities will accept all such "give up" transactions for clearing. To the extent that the Trust determines to utilize a broker or brokers other than Prudential Securities, it will consult with the Advisor prior to directing it to utilize such broker(s), and will not retain the services of such broker(s) over the reasonable objection of the Advisor.

Commodity Broker. All Commodities trades traded for the account of the Trust shall be made through such commodity broker or brokers brokers, or counterparty or counterparties, as the Managing Owner directs or otherwise as may be agreed upon in accordance with such order execution procedures as are agreed upon between the Advisor and the Managing Owner. The Except as set forth below, Advisor shall not have any no authority or responsibility in selecting or supervising any broker floor brokers or counterparties for execution of Commodities trades of the Trust Trust, or for negotiating floor brokerage commission rates or other compensation to be charged therefor. The Advisor shall not be responsible for determining that any such bank broker or broker counterparty used in connection with any Commodities transactions meets the financial requirements or standards imposed by the Trust's Trading Policies and Limitations. At the present time time, it is contemplated that the Trust will execute and clear all Commodities trades through Prudential SecuritiesSecurities and its affiliates. The Advisor may, however, with the consent of the Managing Owner, such consent not to be unreasonably withheld, execute transactions at such other broker(s), firm(s) and upon such terms and conditions, conditions as the Advisor and the Managing Owner agree if such broker(sfirm(s) agree to "give up" all such transactions to Prudential Securities for clearance. To the extent that the Trust determines to utilize a broker or brokers counterparty other than Prudential Securities, it will consult with the Advisor prior to directing it to utilize such broker(s), broker or counterparty and will not retain the services of such broker(s) firm over the reasonable objection of the Advisor.

Commodity Broker. All Commodities trades traded for the account of the Trust shall be made through such commodity broker or brokers brokers, or counterparty or counterparties, as the Managing Owner directs or otherwise as may be agreed upon in accordance with such order execution procedures as are agreed upon between the Advisor and the Managing Owner. The Except as set forth below, the Advisor shall not have any authority or responsibility in selecting or supervising any broker floor brokers or counterparties for execution of Commodities trades of the Trust or for negotiating floor brokerage commission rates or other compensation to be charged therefor. The Advisor shall not be responsible for determining that any such bank broker or broker counterparty used in connection with any Commodities transactions meets the financial requirements or standards imposed by the Trust's Trading Policies and Limitations. At the present time time, it is contemplated that the Trust will execute and clear all Commodities trades through Prudential SecuritiesUBS Securities LLC and its affiliates. The Advisor may, however, with the consent of the Managing Owner, such consent not to be unreasonably withheld, execute transactions at such other broker(s), firm(s) and upon such terms and conditions, conditions as the Advisor and the Managing Owner agree if such broker(sfirm(s) agree to "give up" all such transactions to Prudential UBS Securities LLC for clearance. To the extent that the Trust determines to utilize a broker or brokers counterparty other than Prudential SecuritiesUBS Securities LLC, it will consult with the Advisor prior to directing it to utilize such broker(s), broker or counterparty and will not retain the services of such broker(s) firm over the reasonable objection of the Advisor.

Commodity Broker. All Commodities trades traded for the account of the Trust shall be made through such commodity broker or brokers brokers, or counterparty or counterparties, as the Managing Owner directs or otherwise as may be agreed upon in accordance with such order execution procedures as are agreed upon between the Advisor and the Managing Owner. The Except as set forth below, the Advisor shall not have any no authority or responsibility in selecting or supervising any broker floor brokers or counterparties for execution of Commodities trades of the Trust Trust, or for negotiating floor brokerage commission rates or other compensation to be charged therefor. The Advisor shall not be responsible for determining that any such bank broker or broker counterparty used in connection with any Commodities transactions meets the financial requirements or standards imposed by the Trust's Trading Policies and Limitations. At the present time time, it is contemplated that the Trust will execute and clear all Commodities trades through Prudential SecuritiesUBS Securities LLC and its affiliates. The Advisor may, however, with the consent of the Managing Owner, such consent not to be unreasonably withheld, execute transactions at such other broker(s), firm(s) and upon such terms and conditions, conditions as the Advisor and the Managing Owner agree if such broker(sfirm(s) agree to "give up" all such transactions to Prudential UBS Securities LLC for clearance. To the extent that the Trust determines to utilize a broker or brokers counterparty other than Prudential SecuritiesUBS Securities LLC, it will consult with the Advisor prior to directing it to utilize such broker(s), broker or counterparty and will not retain the services of such broker(s) firm over the reasonable objection of the Advisor.