Common use of Selected Dealer Agreements Clause in Contracts

Selected Dealer Agreements. (a) The Distributor shall have the right to enter into selected dealer agreements (substantially in the form included in SCHEDULE A) with the securities dealers listed in SCHEDULE B or such other securities dealers deemed by the Distributor to be well positioned to sell Units ("Selected Dealers"); provided that the Distributor shall periodically inform the Fund's Board of Managers of its entrance into a selected dealer agreement. Units sold to Selected Dealers shall be for resale by such dealers only. Notwithstanding the foregoing, the Distributor may enter into a selected dealer agreement that is materially different than the form included in SCHEDULE A so long as the Distributor receives the prior written consent of the Fund's Board of Managers, including a majority of the managers who are not "interested persons," as such term is defined by the Investment Company Act, of the Fund.

Selected Dealer Agreements. (a) The Distributor shall have the right to enter into selected dealer agreements (substantially in the form included in SCHEDULE A) with the securities dealers listed in SCHEDULE B or such other securities dealers deemed by the Distributor to be well positioned to sell Units Interests ("Selected Dealers"); provided that the Distributor shall periodically inform the Fund's Board of Managers of its entrance into a selected dealer agreement. Units Interests sold to Selected Dealers shall be for resale by such dealers only. Notwithstanding the foregoing, the Distributor may enter into a selected dealer agreement that is materially different than the form included in SCHEDULE A so long as the Distributor receives the prior written consent of the Fund's Board of Managers, including a majority of the managers who are not "interested persons," as such term is defined by the Investment Company Act, of the Fund.