Common use of Futures and Options Clause in Contracts

Futures and Options. The Portfolio Manager’s investment authority shall include the authority to purchase, sell, cover open positions, and generally to deal in financial futures contracts and options thereon, in accordance with the Series’ investment objective or objectives, policies and restrictions as stated in the Trust’s Registration Statement. The Trust will: (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as “brokerage accounts”) on behalf of and in the name of the Series and (ii) execute for and on behalf of the Series, standard customer agreements with a broker or brokers. The Portfolio Manager may, using such of the securities and other property in the Series as the Portfolio Manager deems necessary or desirable, direct the custodian to deposit on behalf of the Series, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such brokerage accounts and to such brokers as the Portfolio Manager deems desirable or appropriate. The Portfolio Manager has delivered to the Trust a copy of its Disclosure Document, as amended, dated March 15, 2001, on file with the Commodity Futures Trading Commission. The Trust hereby acknowledges receipt of such copy.

Futures and Options. The Portfolio Manager’s 's investment authority shall include the authority to purchase, sell, cover open positions, and generally to deal in financial futures contracts and options thereon, in accordance with the Series’ ' investment objective or objectives, policies and restrictions as stated in the Trust’s 's Registration Statement. The Trust will: (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as “"brokerage accounts”") on behalf of and in the name of the Series and (ii) execute for and on behalf of the Series, standard customer agreements with a broker or brokers. The Portfolio Manager may, using such of the securities and other property in the Series as the Portfolio Manager deems necessary or desirable, direct the custodian to deposit on behalf of the Series, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such brokerage accounts and to such brokers as the Portfolio Manager deems desirable or appropriate. The Portfolio Manager has delivered to the Trust a copy of its Disclosure Document, as amended, dated March 15, 2001, on file with the Commodity Futures Trading Commission. The Trust hereby acknowledges receipt of such copy.

Futures and Options. The Portfolio Manager’s 's investment authority shall include the authority to purchase, sell, cover open positions, and generally to deal in financial futures contracts and options thereon, in accordance with the Series’ ' investment objective or objectives, policies and restrictions as stated in the Trust’s 's Registration Statement. The Trust will: (i) open and maintain brokerage accounts for financial futures and options (such accounts hereinafter referred to as “"brokerage accounts”") on behalf of and in the name of the Series and (ii) execute for and on behalf of the Series, standard customer agreements with a broker or brokers. The Portfolio Manager may, using such of the securities and other property in the Series as the Portfolio Manager deems necessary or desirable, direct the custodian to deposit on behalf of the Series, original and maintenance brokerage deposits and otherwise direct payments of cash, cash equivalents and securities and other property into such brokerage accounts and to such brokers as the Portfolio Manager deems desirable or appropriate. The Portfolio Manager has delivered to the Trust a copy of its Disclosure Document, as amended, dated March June 15, 20012000, on file with the Commodity Futures Trading Commission. The Trust hereby acknowledges receipt of such copy.