Common use of Redemption Fee Clause in Contracts

Redemption Fee. The Managing Owner will receive a redemption fee, as provided in the Prospectus, of a percentage of the Net Asset Value of an Interest of any Series redeemed during the first and second successive six-month periods following the effective date of its purchase. This redemption fee will not be charged if the Limited Owner simultaneously (i) exchanges the redeemed Interest or portion thereof for an Interest of equal value in another Series, or (ii) invests the redemption proceeds in another futures fund sponsored by the Managing Owner and/or its Affiliates. The redemption fees may be waived by the Managing Owner in other circumstances as set forth in the Prospectus.