Aspect FuturesAccess LLC Sample Contracts

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Advisory Agreement • December 20th, 2004 • ML Aspect FuturesAccess LLC • New York
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FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT
Limited Liability Company Operating Agreement • April 17th, 2018 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers • Delaware

THIS FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT (“Agreement”) dated as of November 30, 2012 of Aspect FuturesAccess (this “FuturesAccess Fund”) by and among Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), an indirect wholly-owned subsidiary of Bank of America Corporation, and those persons who shall invest in the units of limited liability company interest (“Units”) created pursuant to this Agreement — Class A, Class C, Class D, Class I, Class M, Class DS, Class DT and such other classes as may be established in the future — and shall therefore be admitted as members (such members being hereinafter sometimes referred to collectively as “Investors”; provided, that for purposes of voting, Units held by the Sponsor shall not be considered to be held by an Investor).

AMENDMENT TO THE OPERATING AGREEMENT
Limited Liability Company Operating Agreement • April 17th, 2018 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012 (as amended from time to time, the “Agreement”) of Aspect FuturesAccess LLC (this “Amendment”) is made as of August 30, 2017 by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein, but not defined, shall have the same meanings assigned to them in the Agreement.

AMENDMENT TO THE OPERATING AGREEMENT
The Operating Agreement • April 17th, 2018 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012, as amended by the amendment dated September 30, 2013 (the “Agreement”) of Aspect FuturesAccess LLC (this “Amendment”) is made as of March 31, 2015 by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein, but not defined, shall have the same meanings assigned to them in the Agreement.

AMENDMENT TO THE OPERATING AGREEMENT
The Operating Agreement • April 17th, 2018 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012 (as amended from time to time, the “Agreement”) of Aspect FuturesAccess LLC (this “Amendment”) is made as of December 31, 2017 by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein, but not defined, shall have the same meanings assigned to them in the Agreement.

AMENDMENT TO THE OPERATING AGREEMENT
The Operating Agreement • October 4th, 2012 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FOURTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of February 29, 2012 (the “Agreement”) of Aspect FuturesAccess LLC is made as of September 30, 2012 (the “Amendment”) by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”) and the Investors. Capitalized terms used herein but not defined shall have the same meanings assigned to them in the Agreement.

AMENDMENT TO THE OPERATING AGREEMENT
The Operating Agreement • April 17th, 2018 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012 (the “Agreement”) of Aspect FuturesAccess LLC is made as of September 30, 2013 (this “Amendment”) by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein but not defined shall have the same meanings assigned to them in the Agreement.

THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT
Limited Liability Company Operating Agreement • March 31st, 2010 • ML Aspect FuturesAccess LLC • Commodity contracts brokers & dealers • Delaware

THIS THIRD AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT (“Agreement”) dated November 30, 2009 of ML Aspect FuturesAccess LLC (this “FuturesAccess Fund”) by and among Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and those persons who shall invest in the units of limited liability company interest (“Units”) created pursuant to this Agreement — Class A, Class C, Class D, Class I, Class DS, Class DT and such other classes as may be established in the future — and shall therefore be admitted as members (such members being hereinafter sometimes referred to collectively as “Investors”; provided, that for purposes of voting, Units held by the Sponsor shall not be considered to be held by an Investor).

FUTURES CUSTOMER AGREEMENT
Futures Customer Agreement • February 12th, 2008 • ML Aspect FuturesAccess LLC • Commodity contracts brokers & dealers • New York

Upon the execution or acceptance for clearing of any transactions by Merrill Lynch on Customer’s behalf, Customer shall be deemed to repeat all of the foregoing representations and warranties made by it.

AMENDMENT TO THE OPERATING AGREEMENT
Operating Agreement • October 18th, 2017 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012, as amended by the amendment dated September 30, 2013 (the “Agreement”) of Aspect FuturesAccess LLC (this “Amendment”) is made as of March 31, 2015 by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein, but not defined, shall have the same meanings assigned to them in the Agreement.

AMENDMENT TO THE OPERATING AGREEMENT
Operating Agreement • April 17th, 2018 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012 (as amended from time to time, the “Agreement”) of Aspect FuturesAccess LLC (this “Amendment”) is made as of October 12, 2017 by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein, but not defined, shall have the same meanings assigned to them in the Agreement.

AMENDMENT TO FUTURESACCESSSM ADVISORY AGREEMENT
Futuresaccesssm Advisory Agreement • May 29th, 2015 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

This amendment is made as of April 28, 2015 (the “Amendment”) among ASPECT FUTURESACCESSSM LLC, a Delaware limited liability company (the “Fund”), MERRILL LYNCH ALTERNATIVE INVESTMENTS LLC, a Delaware limited liability company (the “Manager”) and ASPECT CAPITAL LIMITED (the “Trading Advisor”) (the Fund, the Manager and the Trading Advisor are jointly referred to as the “Parties”). Capitalized terms not otherwise defined herein have those meanings set forth in the Agreement (as defined below).

AMENDMENT TO THE OPERATING AGREEMENT
The Operating Agreement • October 18th, 2013 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012 (the “Agreement”) of Aspect FuturesAccess LLC is made as of September 30, 2013 (this “Amendment”) by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein but not defined shall have the same meanings assigned to them in the Agreement.

AMENDMENT TO THE OPERATING AGREEMENT
The Operating Agreement • April 17th, 2018 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012 (as amended from time to time, the “Agreement”) of Aspect FuturesAccess LLC (this “Amendment”) is made as of April 9, 2018 by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein, but not defined, shall have the same meanings assigned to them in the Agreement.

Contract
Futuresaccesstm Advisory Agreement • February 14th, 2018 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers
AMENDMENT TO FUTURESACCESSSM ADVISORY AGREEMENT
Futuresaccesssm Advisory Agreement • December 10th, 2014 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

This amendment is made as of December 4, 2014 (the “Amendment”) among ASPECT FUTURESACCESS LLC, a Delaware limited liability company formerly known as “ML ASPECT FUTURESACCESS LLC,” (the “Fund”), MERRILL LYNCH ALTERNATIVE INVESTMENTS LLC, a Delaware limited liability company (the “Manager”), and ASPECT CAPITAL LIMITED, a United Kingdom company (the “Trading Advisor”).

AMENDMENT TO THE OPERATING AGREEMENT
Operating Agreement • September 8th, 2017 • Aspect FuturesAccess LLC • Commodity contracts brokers & dealers

THIS AMENDMENT TO THE FIFTH AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated as of November 30, 2012 (the “Agreement”) of Aspect FuturesAccess LLC is made as of September 30, 2013 (this “Amendment”) by Merrill Lynch Alternative Investments LLC, a Delaware limited liability company (the “Sponsor”), and the Investors. Capitalized terms used herein but not defined shall have the same meanings assigned to them in the Agreement.

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