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. 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 in an amount equal to 80% of the Customer's average daily Net Assets at a rate equal to the average yield on 13-week U.S. Treasury Bills issued during such month. All of such funds will be available for margin for the Customer's trading. 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, MS & Co. and MSIL, on the Customer's assets deposited as margin with MS & Co. and MSIL. 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 in an amount equal to 80% of the Customer's average daily Net Assets at a rate equal to the average yield on 13-week U.S. Treasury Bills issued during such month. All of such funds will be available for margin for the Customer's trading. 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, MS & Co. DWR and MSILCFI, on the Customer's assets deposited as margin with MS & Co. and MSILCFI. 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 in an amount equal to 80% of the Customer's average daily Net Assets for the month at a the rate equal to the average yield on 13-the 13- week U.S. Treasury Bills issued during such month. All of such funds will be available for margin for the Customer's trading. 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, MS & Co. DWR and MSILCFI, on the Customer's assets deposited as margin with MS & Co. CFI. The Customer's funds will either be invested along with other customer segregated and MSILsecured 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.