Common use of Commodity Broker Clause in Contracts

Commodity Broker. (a) The Trading Advisor shall effect all transactions in futures interests for the Partnership through, and shall maintain a separate account with, such commodity broker or brokers as the General Partner shall direct. At the present time, DWR acts as the non-clearing commodity broker and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated ("MS & Co.") acts as the clearing commodity broker , except that all trades on the London Metal Exchange are cleared by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. International Limited ("MSIL"). The General Partner shall provide the Trading Advisor with copies of brokerage statements. Notwithstanding that MS & Co. and MSIL shall act as the clearing commodity brokers for the Partnership, the Trading Advisor may execute trades through floor brokers other than those employed by MS & Co. and MSIL so long as arrangements are made for such floor brokers to "give up" or transfer the positions to MS & Co. or MSIL and provided that the rates charged by such floor brokers have been approved in writing by DWR. The Trading Advisor will not be responsible for paying give-up fees.

Commodity Broker. (a) The Trading Advisor shall effect all transactions in futures interests for the Partnership through, and shall maintain a separate account with, such commodity broker or brokers as the General Partner shall direct. At the present time, DWR acts as the non-clearing commodity broker and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Morgan Stanley & Co. Incorporated ("MS & Co.") acts as the clearing commodity broker cleari▇▇ ▇▇▇m▇▇▇▇▇ ▇roker, except that all trades on the London Metal Exchange are will be cleared by ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Morgan Stanley & Co. International Limited ("MSIL"). The General Partner shall ▇▇▇▇▇▇r ▇▇▇▇▇ provide the Trading Advisor with copies of brokerage statements. Notwithstanding that MS & Co. and MSIL shall act as the clearing commodity brokers for the Partnership, the Trading Advisor may execute trades through floor brokers other than those employed by MS & Co. and MSIL so long as arrangements are made for such floor brokers to "give up" or transfer the positions to MS & Co. or MSIL and provided that the rates charged by such floor brokers have been approved in writing by DWR. The Trading Advisor will not be responsible for paying give-up fees.

Commodity Broker. (a) The Trading Advisor shall effect all transactions in futures interests for the Partnership through, and shall maintain a separate account with, such commodity broker or brokers as the General Partner shall direct. At the present time, DWR acts as the non-clearing commodity broker and ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ & Co. Incorporated ("MS & Co.") acts as the clearing commodity broker broker, except that all trades on the London Metal Exchange are will be cleared by ▇M▇▇▇▇▇ ▇S▇▇▇▇▇▇ & Co. International Limited ("MSIL"). The General Partner shall provide the Trading Advisor with copies of brokerage statements. Notwithstanding that MS & Co. and MSIL shall act as the clearing commodity brokers for the Partnership, the Trading Advisor may execute trades through floor brokers other than those employed by MS & Co. and MSIL so long as arrangements are made for such floor brokers to "give up" or transfer the positions to MS & Co. or MSIL and provided that the rates charged by such floor brokers have been approved in writing by DWR. The Except as provided in Exhibit A, the Trading Advisor will not be responsible for paying give-up fees.