Speculative Trading. The Trading Advisor agrees to act as the sole trading advisor for the Company. The Trading Advisor and the Company agree that in managing the assets of the Company, the Trading Advisor shall utilize its Systematic Program (the “Program”) as described under the heading “Investment Objective and Approach” in the prospectus (the “Prospectus”) of Solaise Systematic Fund Limited, as amended from time to time (the “Investment Objective”). The Systematic Program shall target a long range volatility of 14-16%, as measured by annualized standard deviation. The Company agrees and acknowledges that at any given time the annualized standard deviation may fall outside this range. The Trading Advisor may utilize a different program to the Program in respect of the Company only with the prior written consent of the Company. Except as provided otherwise in this Section 3, the Trading Advisor shall have sole and exclusive authority and responsibility for directing the investment and reinvestment of the Company’s assets utilizing the Program in accordance with the “Investment Objective and Approach” section of the Propsectus and as refined and modified from time to time in the future in accordance herewith, for the period and on the terms and conditions set forth herein. Only those individuals currently employed by the Trading Advisor and listed in Appendix A are permitted to implement trades for the Company unless otherwise agreed in writing between the Company and the Trading Advisor. Notwithstanding the foregoing, the Company or the Manager may override the trading instructions of the Trading Advisor to the extent necessary: (i) to fund any distributions or redemptions of Units to be made by the Fund; (ii) to pay the Company’s or the Fund’s expenses; and/or (iii) to comply with speculative position limits; provided that the Company and the Manager shall permit the Trading Advisor three days in which to liquidate positions for the purposes set forth in clauses (i)-(ii) prior to exercising its override authority. The Trading Advisor will have no liability for the results of any of the Manager’s interventions in (i)-(iii), above. The Company and the Manager both specifically acknowledge that in agreeing to manage the Company, the Trading Advisor is not making any guarantee of profits or of protections against loss. The Trading Advisor shall give the Company and the Manager prompt written notice of any proposed material change in the Program or the manner in which trading de...
Speculative Trading. The Company shall not, and shall not permit any Subsidiary to (a) engage in transactions in futures contracts and options to purchase or sell futures contracts for speculative purposes other than as part of normal business operations as a risk-management strategy and/or a hedge against changes resulting from market conditions, or (b) enter into any Swap Contract or any other similar agreement other than to protect the Company against fluctuations in interest rates, currency exchange rates or commodity prices.
Speculative Trading. Company shall not, and will not permit any ------------------- Subsidiary to, enter into or become bound by any transaction respecting Speculative Trading or make any payment on account of any Speculative Trading.
Speculative Trading. As of the date of this Agreement, the Trading Advisor shall act as a trading advisor for the Company, acting independently from any other advisors or managers selected to direct accounts on behalf of the Global Horizons Fund. The Trading Advisor and the Company agree that in managing the assets of the Company, the Trading Advisor shall utilize its Crabel Diversified Futures Program (the “Program”) as described as Class G Interests in the Trading Advisor’s Crabel Fund, L.P. Private Placement Memorandum dated November 30, 2012 (the “Crabel Memorandum”). The Trading Advisor may trade a different portfolio for the Company only with the consent of the Manager. Except as provided otherwise in this Section 2, the Trading Advisor shall have sole and exclusive authority and responsibility for directing the investment and reinvestment of the Company’s assets utilizing the Programs pursuant to and in accordance with the Trading Advisor’s best judgment and its approach as described in the Crabel Memorandum, and as refined and modified from time to time in the future in accordance herewith, for the period and on the terms and conditions set forth herein. Only those individuals currently employed by the Trading Advisor and listed in Appendix A are permitted to implement trades for the Company. Notwithstanding the foregoing, the Company or the Manager may override the trading instructions of the Trading Advisor to the extent necessary to comply with applicable law, including speculative position limits. The Company and the Manager both specifically acknowledge that in agreeing to manage the Company, the Trading Advisor is not making any guarantee of profits or of protections against loss. The Trading Advisor shall give the Company and the Manager prompt written notice of any proposed material change in the Program or the manner in which trading decisions are to be made or implemented and shall not make any such proposed material change with respect to trading for the Company without having given the Company and the Manager at least 30 days’ prior written notice of such change. The addition and/or deletion of commodity interests from the Company’s portfolio managed by the Trading Advisor shall not be deemed a change in the Trading Advisor’s trading approach and prior written notice to the Company or the Manager shall not be required therefor, except as set forth in section 2(b) below; provided that, with respect to the Company, the Trading Advisor may trade a different tr...
Speculative Trading. The Trading Advisor shall act as a trading ------------------- advisor for the Trading Partnership, acting independently from any other advisors or managers selected to direct accounts on behalf of the Trading Partnership, and pursuant to the trading strategies described in the Disclosure Document provided by the Trading Advisor to the General Partner as the same may be developed and modified over time (the "Disclosure Document"). The Trading Advisor may trade a different portfolio in managing the Trading Partnership's account only with the consent of the General Partner. Except as provided otherwise in this Section 2, the Trading Advisor shall have sole and exclusive authority and responsibility for directing the investment and reinvestment of the Trading Partnership's assets allocated to the Trading Advisor utilizing the designated trading program pursuant to and in accordance with the Trading Advisor's best judgment and its approach as described in the Disclosure Document and as refined and modified from time to time in the future in accordance herewith, for the period and on the terms and conditions set forth herein and as described in the Prospec- tus and the Third Amended and Restated Limited Partnership Agreement of the Trading Partnership (the "Limited Partnership Agreement"). Notwithstanding the foregoing, the Trading Partnership or the General Partner may override the trading instructions of the Trading Advisor to the extent necessary: (i) to fund any distributions or redemptions of Units to be made by the Parent; (ii) to pay any Parent or Trading Partnership expenses; (iii) to deleverage the Trading Partnership's trading in order to provide the "principal protection" feature of the Trading Partnership without requiring Xxxxxxx Xxxxx & Co., Inc. to make any payments under its Guarantee, as described in the Prospectus; and/or (iv) to comply with speculative position limits; provided that the Parent and the General Partner shall permit the Trading Advisor three days in which to liquidate positions for the purposes set forth in clauses (i)-(ii) prior to exercising its override authority. The Trading Advisor will have no liability for the results of any of the General Partner's interventions in (i)-(iv), above. The Parent, the Trading Partnership and the General Partner each specifically acknowledge that in agreeing to manage an account for the Trading Partnership the Trading Advisor is in no respects making any guarantee of profits or of protections...
Speculative Trading. The Borrowers shall not engage in any speculative trading activity which exposes the Borrowers to risks in excess of $1,000,000.00.
Speculative Trading. As of the date of this Agreement, the Trading Advisor acts as a trading advisor for the Company. The Trading Advisor and the Company agree that in managing the assets of the Company, the Trading Advisor shall utilize similar currency programs as it utilizes to manage Ortus Fund (Cayman) Limited (the “Ortus Fund”) as described in the confidential Private Placing Memorandum (the “PPM”) of the Ortus Fund (the “Program”). The Trading Advisor has previously provided to the Manager a copy of the PPM, and each time that the PPM is supplemented, revised, or updated, the Trading Advisor will within five business days provide the Manager with such supplement, revision, or update (together with the PPM, the “Disclosure Document”). The Trading Advisor may trade a different portfolio for the Company only with the consent of the Manager. Except as provided otherwise in this Section 2, the Trading Advisor shall have sole and exclusive authority and responsibility for directing the investment and reinvestment of the Company’s assets utilizing the Programs pursuant to and in accordance with the Trading Advisor’s best judgment and its approach as described in the Disclosure Document, and as refined and modified from time to time in the future in accordance herewith, for the period and on the terms and conditions set forth herein. Only those individuals currently employed by the Trading Advisor and listed in Appendix A are permitted to implement trades for the Company. Notwithstanding the foregoing, the Company or the Manager may override the trading instructions of the Trading Advisor to the extent necessary: (i) to fund any distributions or redemptions of Units to be made by the Fund; (ii) to pay the Company’s or the Fund’s expenses; and/or (iii) to comply with speculative position limits; provided that the Company and the Manager shall permit the Trading Advisor three days in which to liquidate positions for the purposes set forth in clauses (i)-(ii) prior to exercising its override authority. The Trading Advisor will have no liability for the results of any of the Manager’s interventions in (i)-(ii), above. The Company and the Manager both specifically acknowledge that in agreeing to manage the Company, the Trading Advisor is not making any guarantee of profits or of protections against loss. The Trading Advisor shall give the Company and the Manager prompt written notice of any proposed material change in the Program or the manner in which trading decisions are to be ma...
Speculative Trading. As of the date of this Agreement, the Trading Advisor acts as a trading advisor for the Company. The Trading Advisor and the Company agree that in managing the assets of the Company, the Trading Advisor shall utilize its Global Program (the “Program”) as described in the Trading Advisor’s Disclosure Document dated June 9, 2009 (the “Disclosure Document”). The Trading Advisor may trade a different portfolio for the Company only with the consent of the Manager. Except as provided otherwise in this
Speculative Trading. The Borrower shall not, nor shall it permit any of its Subsidiaries to, purchase, assume, or hold a speculative position in any commodities market or futures market or enter into any Hydrocarbon Hedge Agreement, Interest Hedge Agreement or similar hedge arrangements for speculative purposes; provided that any hedge arrangements which cover anticipated production volumes attributable to Proven Reserves of the Borrower and its Subsidiaries within the limits set forth in Section 6.02(g) shall not be considered "speculative".
Speculative Trading. 32 8.13 INVESTMENTS................................................................................32
