Common use of WITHDRAWAL OF THE SPONSOR Clause in Contracts

WITHDRAWAL OF THE SPONSOR. (a) The Sponsor may withdraw from Systematic Momentum FuturesAccess at any time, without any breach of this Agreement, upon 90 calendar days’ written notice to the Investors. Withdrawal of the Sponsor shall not dissolve Systematic Momentum FuturesAccess if at the time there is at least one other manager remaining; however, all Investors shall be entitled to redeem their Units, in total and not in part, as of the effective date of any such withdrawal by the Sponsor, unless an entity affiliated with the Sponsor remains as a manager of Systematic Momentum FuturesAccess. Nothing in this Section 4.01(a) shall, however, restrict the Sponsor from assigning and delegating its rights and obligations under this Agreement to an affiliate of the Sponsor upon notice (which need not be prior notice) to the Investors or in connection with the sale of all or a material portion of the Sponsor’s equity or assets.

WITHDRAWAL OF THE SPONSOR. (a) The Sponsor may withdraw from Systematic Momentum FuturesAccess at any time, without any breach of this Agreement, upon 90 calendar days’ ' written notice to the Investors. Withdrawal of the Sponsor shall not dissolve Systematic Momentum FuturesAccess if at the time there is at least one other manager remaining; however, all Investors shall be entitled to redeem their Units, in total and not in part, as of the effective date of any such withdrawal by the Sponsor, unless an entity affiliated with the Sponsor remains as a manager of Systematic Momentum FuturesAccess. Nothing in this Section 4.01(a) shall, however, restrict the Sponsor from assigning and delegating its rights and obligations under this Agreement to an affiliate of the Sponsor upon notice (which need not be prior notice) to the Investors or in connection with the sale of all or a material portion of the Sponsor’s 's equity or assets.