Common use of Investment of Customer Funds Clause in Contracts

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if 80% of the Cusxxxxr's average daily Net Assets for the month were invested in U.S. Treasury Bills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill Xxxx investments with customer segregated funds as if 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Bills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR Broker will receive interest income from MS & Co. and MSILCFI, as agreed from time to time by DWR Broker and MS & Co. and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSILCFI. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if in an amount equal to 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in at a rate equal to the average yield on the 13-week U.S. Treasury BillsBills issued during such month. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and DWR, MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill bill investments with customer segregated funds as if 80100% of the Cusxxxxrxxx Customer's average daily Net Assets for funds (including cash and securities) held in the Customer's account with DWR during the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets DWR will not include monies due to also credit the Customer on or with 100% of the interest income DWR receives from MS&Co. and MSIL with respect to forward contracts the Customer's assets deposited as margin with MS&Co. and other futures interests but not actually received by it from banks, brokers, dealers and other personsMSIL. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSILassets. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill xxxx investments with customer segregated funds as if 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. MS&Co. and MSIL, as agreed from time to time by DWR and MS & Co. with MS&Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. MS&Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if in an amount equal to 80% of the Cusxxxxr's Customer' average daily Net Assets for the month were invested in at a rate equal to the average yield on the 13-week U.S. Treasury BillsBills issued during such month. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and DWR, MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end as if 80% of the Customer's average daily Net Assets for the month were invested at the rate earned by DWR on its U.S. Treasury Bill Xxxx investments with customer segregated funds as if 80% of the Cusxxxxr's average daily Net Assets for the month were invested in U.S. Treasury Billsfunds. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSILCFI, as agreed from time to time by DWR and MS & Co. and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSILCFI. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill Xxxx investments with customer segregated funds as if 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Bills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill bill investments with customer segregated funds as if 80an amount equxx xo 90% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and DWR, MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill xxxx investments with customer segregated funds as if 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. MS&Co. and MSIL, as agreed from time to time by DWR and MS & Co. MS&Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. MS&Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill xxxx investments with customer segregated funds as if 80an amount equal to 90% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSILCFI, as agreed from time to time by DWR and MS & Co. and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSILCFI. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if in an amount equal to 80% of the Cusxxxxr's Customer' average daily Net Assets for the month were invested in at a rate equal to the average yield on the 13-week U.S. Treasury BillsBills issued during such month. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and DWR, MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated segragated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if 80% of the CusxxxxrXxxxomer's average daily Net Assets for the month were invested in U.S. Treasury Bills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill bill investments with customer segregated funds as if 80% of the CusxxxxrCuxxxxer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSILMS&Co., as agreed from time to time by DWR and MS & Co. and MSILMS&Co., on the Customer's assets deposited as margin with MS & Co. and MSIL. MS&Co.. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end as if 80% of the Customer's average daily Net Assets for the month were invested at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if 80% of the Cusxxxxr's average daily Net Assets for the month were invested in U.S. Treasury Billsfunds. All of such funds will xxxx be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and DWR, MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. The Customer's assets deposited with DWR will be held in non-interest bearing accounts or invested in securities approved for investment by the CFTC for investment of customer funds. In any event, DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if in an amount equal to 80% of the CusxxxxrCustomer's average daily Net Assets for at a rate equal to the month were invested in average yield on 13-week U.S. Treasury BillsBills issued during such month. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures commodity interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSILCFI, as agreed from time to time by DWR and MS & Co. and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accountsCFI. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill bill investments with customer segregated funds as if 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. MS&Co. and MSIL, as agreed from time to time by DWR and MS & Co. with MS&Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. MS&Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill bill investments with customer segregated funds as if 80% of the Cusxxxxrtxx Xustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. MS&Co. and MSIL, as agreed from time to time by DWR and MS & Co. with MS&Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. MS&Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill xxxx investments with customer segregated funds as if 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSILMS&Co., as agreed from time to time by DWR and MS & Co. and MSILMS&Co., on the Customer's assets deposited as margin with MS & Co. and MSILMS&Co. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if 80% of the CusxxxxrXxstomer's average daily Net Assets for the month were invested in U.S. Treasury Bills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR Broker will receive interest income from MS & Co. and MSILCFI, as agreed from time to time by DWR Broker and MS & Co. and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSILCFI. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill bill investments with customer segregated funds as if 80% of the Cusxxxxrxxx Customer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. MS&Co. and MSIL, as agreed from time to time by DWR and MS & Co. with MS&Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. MS&Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill bill investments with customer segregated funds as if 80% of the Cusxxxxrxx xhe Customer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. MS&Co. and MSIL, as agreed from time to time by DWR and MS & Co. with MS&Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. MS&Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. The Customer's assets deposited with DWR will be held in non-interest bearing accounts or invested in securities approved for investment by the CFTC for investment of customer funds. In any event, DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if in an amount equal to 80% of the CusxxxxrCustomer's average daily Net Assets for at a rate equal to the month were invested in average yield on 13-week U.S. Treasury BillsBills issued during such month. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures commodity interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSIL, as agreed from time to time by DWR and DWR, MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. The Customer's assets deposited with DWR will be held in non-interest bearing accounts or invested in securities approved for investment by the CFTC for investment of customer funds. In any event, DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill investments with customer segregated funds as if in an amount equal to 80% of the CusxxxxrCustomer's average daily Net Assets for at a rate equal to the month were invested in average yield on 13-week U.S. Treasury BillsBills issued during such month. All of such funds will be available for margin for the Customer's trading. [For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures commodity interests but not actually received by it from banks, brokers, dealers and other persons. .] The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSILCFI, as agreed from time to time by DWR and MS & Co. and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accountsCFI. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill Xxxx investments with customer segregated funds as if 80100% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Bills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR Broker will receive interest income from MS & Co. and MSILCFI, as agreed from time to time by DWR Broker and MS & Co. and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSILCFI. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill bill investments with customer segregated funds as if 80% of the Cusxxxxr's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. MS&Co. and MSIL, as agreed from time to time by DWR and MS & Co. MS&Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. MS&Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill xxxx investments with customer segregated funds as if 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSILCFI, as agreed from time to time by DWR and MS & Co. and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSILCFI. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill xxxx investments with customer segregated funds as if 80100% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. MS&Co. and MSIL, as agreed from time to time by DWR and MS & Co. with MS&Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. MS&Co. and MSIL. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.

Investment of Customer Funds. The Customer shall deposit its assets in accounts with DWR. The Customer's assets deposited with DWR will be segregated or secured in accordance with the Commodity Exchange Act and CFTC regulations. DWR will credit the Customer with interest income at month-end at the rate earned by DWR on its U.S. Treasury Bill xxxx investments with customer segregated funds as if 80% of the CusxxxxrCustomer's average daily Net Assets for the month were invested in U.S. Treasury Billsbills at that rate. All of such funds will be available for margin for the Customer's trading. For the purpose of such interest payments, Net Assets will not include monies due to the Customer on or with respect to forward contracts and other futures interests but not actually received by it from banks, brokers, dealers and other persons. The Customer understands that it will not receive any other interest income on its assets and that DWR will receive interest income from MS & Co. and MSILMS&Co., as agreed from time to time by DWR and MS & Co. and MSILMS&Co., on the Customer's assets deposited as margin with MS & Co. and MSIL. MS&Co.. The Customer's funds will either be invested along with other customer segregated and secured funds of DWR or held in non-interest bearing bank accounts. The Customer's assets held by DWR may be used solely as margin for the Customer's trading. Ownership of the right to receive interest on the Customer's assets pursuant to the preceding paragraph shall be reflected and maintained and may be transferred only on the books and records of DWR. Any purported transfer of such ownership shall not be effective or recognized until such transfer shall have been recorded on the books and records of DWR.