Duties of the Trading Advisor. (a) Upon the commencement of trading operations on or about July 1, 2007 by the Trading Advisor on behalf of the Trading Company, the Trading Advisor hereby agrees to act as a Trading Advisor for the Trading Company and, as such, shall have authority and responsibility for directing the investment and reinvestment of the Trading Company’s assets, which shall consist of the Trading Company’s Net Assets (as defined in Section 5(c) hereof) plus “notional” funds, if any, as specified in writing by the Trading Manager and consented to by the Trading Advisor (the “Assets”), on the terms and conditions and in accordance with the prohibitions and the trading policies set forth in Exhibit A to this Agreement as amended from time to time and provided in writing to the Trading Advisor by the Trading Manager (the “Trading Policies”); provided, however, that the Trading Manager may override the instructions of the Trading Advisor without notice to the Trading Advisor to the extent necessary (i) to comply with the Trading Policies and with applicable speculative position limits, (ii) to fund any distributions or redemptions, (iii) to pay the Trading Company’s expenses, (iv) to the extent the Trading Manager believes doing so is necessary for the protection of the Trading Company, (v) to terminate the futures interest trading of the Trading Company with the Trading Advisor, or (vi) to comply with any applicable law or regulation. The Trading Manager agrees not to override any such instructions for the reasons specified in clauses (ii) or (iii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the Trading Manager to make the necessary amount of funds available to the Trading Company within two trading days of such request. The Trading Advisor shall not be liable for the consequences of any decision by the Trading Manager to override instructions of the Trading Advisor, except to the extent that such consequences result from a material breach of this Agreement by the Trading Advisor or the Trading Advisor fails to comply with the Trading Manager’s decision to override an instruction.
Duties of the Trading Advisor. (a) The Partnership hereby appoints the Trading Advisor, and the Trading Advisor hereby accepts appointment, as a trading advisor of the Partnership in connection with the trading activities of the Partnership.
Duties of the Trading Advisor. (a) The Trading Advisor hereby agrees to act as Trading Advisor for the Partnership and, as such, shall have sole authority and responsibility, commencing December 1, 2006, for directing the investment and reinvestment of the Net Assets of the Partnership, which initially shall be traded pursuant to its Diversified Trading Program as described in the Prospectus, and may be subsequently traded pursuant to such other of the Trading Advisor’s programs described in the Prospectus as General Partner may instruct (with such changes and additions to such trading programs as the Trading Advisor, from time to time, incorporates into its trading program(s) for accounts the size of the Partnership), (collectively, the “Trading Program”) on the terms and conditions and in accordance with the prohibitions and trading policies set forth in Exhibit A hereto, the Prospectus, the Limited Partnership Agreement and as otherwise provided in writing to the Trading Advisor; provided, however, that the General Partner may override the instructions of the Trading Advisor to the extent necessary (i) to comply with the trading policies of the Partnership, as described in Exhibit A hereto, the Prospectus, the Limited Partnership Agreement and as otherwise provided in writing to the Trading Advisor, and with applicable speculative position limits, (ii) to pay the Partnership’s expenses, (iii) to the extent the General Partner believes doing so is necessary for the protection of the Partnership, (iv) to terminate the futures interests trading of the Partnership, or (v) to comply with any applicable law or regulation. The General Partner agrees not to override any such instructions for the reasons specified in clause (ii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the General Partner to facilitate making the necessary amount of funds available to the Partnership within five calendar days of such request. Except as otherwise provided herein, the Trading Advisor shall not be liable for the consequences of any decision by the General Partner to override instructions of the Trading Advisor. In performing services for the Partnership, the Trading Advisor may not materially alter or change the Trading Program without the prior written consent of the General Partner (and shall not effect such alteration or change on behalf of the Partnership without the General Partner’s consent), and it being understood that changes in the futures interests traded,...
Duties of the Trading Advisor. (a) Upon the commencement of trading operations on or about December 1, 2007 by the Trading Advisor on behalf of the Partnership, the Trading Advisor hereby agrees to act as a Trading Advisor for the Partnership and, as such, shall have sole authority and responsibility for directing the investment and reinvestment of its allocated portion of the Net Assets of the Partnership which initially shall be traded pursuant to its Global Futures Portfolio, as described in the Prospectus, and may be subsequently traded pursuant to such other of the Trading Advisor's programs described in the Prospectus as agreed to by the General Partner and the Trading Advisor (with such changes and additions to such trading programs as the Trading Advisor, from time to time, incorporates into its trading program(s) for accounts the size of the Partnership's), (collectively, the "Trading Program") on the terms and conditions and in accordance with the prohibitions and trading policies set forth in Exhibit A hereto, the Prospectus, the Limited Partnership Agreement and as otherwise provided in writing to the Trading Advisor; provided, however, that the General Partner may override the instructions of the Trading Advisor without notice to the Trading Advisor to the extent necessary (i) to comply with the trading policies of the Partnership, as described in Exhibit A hereto, the Prospectus and the Limited Partnership Agreement, and as otherwise provided in writing to the Trading Advisor, and with applicable speculative position limits, (ii) to fund any distributions, redemptions or reapportionments among other trading advisors, if any, to the Partnership, (iii) to pay the Partnership's expenses, (iv) to the extent the General Partner believes doing so is necessary for the protection of the Partnership, (v) to terminate the futures interests trading of the Partnership, or (vi) to comply with any applicable law or regulation. The General Partner agrees not to override any such instructions for the reasons specified in clauses (ii) or (iii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the General Partner to make the necessary amount of funds available to the Partnership within two business days of such request. Except as otherwise provided herein, the Trading Advisor shall not be liable for the consequences of any decision by the General Partner to override instructions of the Trading Advisor., except to the extent that such consequences result ...
Duties of the Trading Advisor. (a) (i) The Sponsor shall appoint the Trading Advisor to have discretionary authority and responsibility for independently directing the Futures Interest trading pursuant to the trading program and strategy agreed upon by the Sponsor and the Trading Advisor and disclosed in the Memorandum (the “Program”), as the same may be modified from time to time by the Trading Advisor as a result of its ongoing commitment to research and development. Any such change will not be deemed to constitute a material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) and may be made without prior notification to the Sponsor. However, any material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) (such change to be determined as material in the Trading Advisor’s reasonable discretion) will only be made upon giving the Sponsor at least twenty Business Days’ prior written notice (a “Business Day” means any day on which banks in New York City are not required or authorized to close). The Trading Advisor may, on behalf of the Trading Fund and subject to Section 1(a)(iii) and Section 7, execute transactions in Futures Interests on either a principal or an agency basis, with or through such clearing brokers as approved by the Sponsor and executing brokers selected by the Trading Advisor, provided that the Trading Fund shall be a party to all “give-up” agreements, from time to time. This limited authority granted to the Trading Advisor is a continuing power and shall continue in effect with respect to the Trading Advisor until terminated hereunder.
Duties of the Trading Advisor. (a) Upon the commencement of trading operations on or about November 1, 2008 by the Trading Advisor with respect to a portion of the assets of the Fund, the Trading Advisor hereby agrees to act as a Trading Advisor for the Fund and, as such, shall have authority and responsibility for directing the investment and reinvestment of that portion of the Fund’s assets allocated to the Trading Advisor, which shall consist of the Allocated Net Assets (as defined in Section 5(c) hereof) plus “notional” funds, if any, allocated to the Trading Advisor, as specified in writing by the Managing Owner and consented to by the Trading Advisor (the “Assets”), on the terms and conditions and in accordance with the prohibitions and the trading policies set forth in Exhibit A to this Agreement as amended from time to time and provided in writing to the Trading Advisor by the Managing Owner (the “Trading Policies”); provided,
Duties of the Trading Advisor. (a) The Trading Advisor shall act as a commodity pool operator and trading advisor of the Series and to furnish, or arrange for the furnishing of, the commodity pool operator, commodity trading, and other services described below, for the period and on the terms and conditions set forth in this Advisory Agreement (the “Agreement”). Additionally, the Trading Advisor will provide certain administrative, transfer agency and investor services to the Series. The Trading Advisor hereby accepts such employment and agrees during such period, at its own expense, to render, or arrange for the rendering of, such services and to assume the obligations herein set forth for the compensation provided for herein. The Trading Advisor, its affiliates, or any entity performing services for the Series on behalf of the Trading Advisor for all purposes herein shall be deemed to be independent contractors and, unless otherwise expressly provided herein or authorized, shall have no authority to act for or represent the Series in any way or otherwise be deemed agents of the Series.
Duties of the Trading Advisor. (a) The Trading Advisor agrees to act as the trading advisor for the Partnership and, as such, shall have sole authority and responsibility for advising the investment and reinvestment of the assets of the Partnership in futures interests on the terms and conditions and in accordance with the restrictions and trading policies set forth in this Agreement, the Partnership's Limited Partnership Agreement as from time to time in effect (the "Limited Partnership Agreement"), and the Prospectus; provided, however, that the General Partner may override the instructions of the Trading Advisor to the extent necessary (i) to comply with the trading policies of the Partnership described in the Limited Partnership Agreement, (ii) to fund any distributions or redemptions, or (iii) to pay the Partnership's expenses. The General Partner agrees not to override any such instructions for the reasons specified in clauses (ii) and (iii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the General Partner to make the necessary amount of funds available to the Partnership within five days of such request.
Duties of the Trading Advisor. (a) Mr. Lerner will use multiple xxxxxxx xpproaches operated by the Trading Advisor in connection with the management of the Partnership's assets. Initially, Mr. Lerner intends to use thxxx xx xxx Trading Advisor's approaches: Vulcan, Argo and Rex. A separate account(s) wxxx be maintained for each trading approach at the Partnership's commodity broker(s). The aggregate amount originally allocated to the Trading Advisor, together with cumulative profits thereon as a result of futures trading, including any interest income earned thereon, less any allocated fees and expenses and adjusted for additions and withdrawals, shall be the "Trading Advisor's Allocated Assets." Management and performance fees paid or accrued, commissions charged, extraordinary expenses, and any other specific liabilities attributable to the account(s) shall be chargeable to such account(s). After consultation with the Trading Advisor, Mr. Lerner may reallocate or xxxxxxxx at any time all or a portion of the Partnership's assets being directed by a particular trading approach of the Trading Advisor and may allocate additional assets of the Partnership to any of the trading approaches or to a new approach of the Trading Advisor.
Duties of the Trading Advisor. (a) Upon the allocation of assets of the Partnership to Trading Advisor, Trading Advisor, for that portion of the Partnership's assets allocated to Trading Advisor, shall have sole authority and responsibility for directing the investment and reinvestment in Commodities during the term of this Agreement and in accordance with the trading policies and trading strategies set forth in the Prospectus which has been furnished to Trading Advisor. If the General Partner determines in its sole discretion, that any trading instructions issued by Trading Advisor violate those trading policies or strategies, then the Page 1 of 13 General Partner may cause any position placed in violation to be reversed. Trading Advisor will exercise its best efforts in determining the trades in Commodity Interests. Changes in Commodity Interests traded shall not be deemed material changes in trading policies. Trading Advisor has advised the Partnership that its past performance and the past performance of its principals as provided to the General Partner is the result of Trading Advisor's trading methods as modified and refined from time to time. Each of the Partnership and the General Partner acknowledges that the trading strategies of Trading Advisor are confidential and proprietary. If a change in Trading Advisor's trading strategies is deemed material in the sole judgment of Trading Advisor, then Trading Advisor will not change its trading strategies without at least ten (10) days prior written notice to the General Partner. All commissions and expenses arising from the trading of, or other transactions in the course of the administration of, the Partnership's account shall be charged to the Partnership's account. The General Partner shall deliver to Trading Advisor, and renew when necessary, a Commodity Trading Authorization appointing Trading Advisor as the Partnership's agent and attorney-in-fact for the purpose of trading Commodities on behalf of the Partnership. All trades for the account of the Partnership directed by Trading Advisor shall be made through such clearing broker or brokers as the General Partner may direct (each, a "clearing broker"). Notwithstanding the foregoing, Trading Advisor may place orders for Commodity Interest transactions for the Partnership through executing brokers or floor brokers selected by Trading Advisor and may execute on behalf of the Partnership "give-up" agreements with such executing brokers or floor brokers where necessary; provided tha...
