Activity of General Partner. The General Partner may engage in other business activities and shall not be required to refrain from any other activity or disgorge any profits from any such activity, whether as general partner of additional partnerships for investment in commodity futures contracts or otherwise. The General Partner, on behalf of the Partnership, may engage and compensate from funds of the Partnership such persons, firms or corporations, including any affiliated person or entity or any other person or entity, as the General Partner in its sole judgment shall deem advisable for the conduct and operation of the business of the Partnership.
Activity of General Partner. The General Partner hereby --------------------------- agrees to use its reasonable efforts in connection with the purposes and objects of the Partnership and shall devote to such purposes and objects such time and activity during normal business days and hours as may be reasonably necessary, in its reasonable discretion, for the management of the affairs of the Partnership; provided, however, that nothing contained in this Section 2.04 -------- ------- shall preclude the General Partner from acting as a director, officer, agent or employee of any corporation, a partner of any partnership, an investment counselor or advisor to any person, firm, corporation or other entity, a trustee of any trust, an executor or administrator of any estate, or an administrative official of any other business entity, or from participating in profits derived from the investments of any such corporation, trust, estate, partnership or other business entity or person. The General Partner may engage or possess an interest in other business ventures of every nature and description, independently or with others, including, without limitation, performing the same or similar services as contemplated by this Agreement with or for other entities, and neither the Partnership nor any of the other Partners shall have any right by virtue of this Agreement in and to such other ventures or to the income or property derived therefrom. In carrying out its duties, the General Partner may appoint, engage or retain persons to serve as officers or managers of the Partnership or as a Partnership Functionary and to delegate to such persons such of its duties as the General Partner may determine in its reasonable discretion.
Activity of General Partner. The General Partner and its principals, members, officers, directors, employees or other agents (collectively “Affiliates”) shall devote so much of their time to the investment activities of the Partnership as the General Partner deems reasonable under the circumstances. Nothing contained herein shall be deemed to preclude the General Partner and/or Affiliates from engaging directly or indirectly in any other activities, for its or their own accounts. No Partner shall, by reason of being a Partner in the Partnership, have any right to participate in any manner in any profits or income earned or derived by or accruing to the General Partner or Affiliates from the conduct of any activities other than the activities of the Partnership or from any transaction in Securities effected by the General Partner and/or Affiliates for any account other than that of the Partnership.
Activity of General Partner. The General Partner shall not be --------------------------- required to manage the Partnership as its sole and exclusive function and may have other business interests and may engage in other activities in addition to those relating to the Partnership. Neither the Partnership nor any Partner shall have any right by virtue of this Agreement or the partnership relationship created hereby in or to such other ventures or activities or to the income or proceeds derived therefrom, and the pursuit of such ventures and activities, even if competitive with the business of the Partnership, shall not be deemed wrongful or improper.
Activity of General Partner. The General Partner hereby agrees to use his best efforts in connection with the purposes and objects of the Partnership and shall diligently and faithfully devote to such purposes and objects his time and activity during normal business days and hours as he in his discretion shall deem necessary for monitoring its investment portfolio and making all of its investment decisions; provided, however, that nothing contained in this Section shall preclude the General Partner from acting (consistent, however, with the foregoing) as a director, officer, employee, trustee, executor or other official of any Person; or from participating in profits derived from the investments of or in any Person; or from engaging in any other activity or having interests in any other activity even if in direct competition with the Partnership and its purposes. The Partners acknowledge that there can be no assurance that the purchase and sale of investments will be made on a best price and best execution basis. It is expected that various research services will be provided to the Partnership by or for broker-dealers in exchange for order flow. The Partnership may pay brokerage commissions in excess of the lowest rates available to brokers who execute transactions for the account of the Partnership or who otherwise provide brokerage and research services utilized by the General Partner, provided that the General Partner determines in good faith that the amount of each such commission paid to a broker is reasonable in relation to the value of the brokerage and research services provided by such broker viewed in terms of either the particular transaction to which the commission relates or the General Partner's overall responsibilities with respect to accounts as to which the General Partner exercises investment discretion. The General Partner and his Affiliates may provide services to the Partnership, provided that any services provided by any Affiliate of the General Partner are services that the General Partner believes, at the time of requesting such services, to be in the best interests of the Partnership. The General Partner and his Affiliates shall not, however, participate in discounts, commissions or other similar fees earned by Persons effecting transactions in Securities and Contracts for the account of the Partnership.
Activity of General Partner. The General Partner hereby agrees to use his best efforts in connection with the purposes and objects of the Partnership and shall diligently and faithfully devote to such purposes and objects his time and activity during normal business days and hours as he in his discretion shall deem necessary for the management of the affairs of the Partnership, provided however, that nothing contained in this Section 2.04 shall preclude the General Partner from acting, consistent, however, with the foregoing and with Section 1.05 (a), as a director, officer or employee of any corporation, a trustee of any trust, or an executor or administrative official of any other business entity; or from participating in profits derived from the investments of any such corporation, trust estate, partnership or other business entity or person; or from engaging in any other business or having other business interests.
Activity of General Partner. Each General Partner hereby agrees to use his best efforts in connection with the purposes and objects of the Partnership and shall diligently and faithfully devote to such purposes and objects his time and activity during normal business days and hours as each General Partner in his discretion shall deem necessary for the management of the affairs of the Partnership; provided, however, that nothing contained in this Section 3.3 shall preclude a General Partner from acting, consistent, however, with the foregoing, as a director, officer or employee of any corporation, a trustee of any trust, or an executor or administrative official of any other business entity; or from participating in profits derived from the investments of any such corporation, trust, estate, partnership or other business entity or person; or from engaging in any other business or having other business interests. The General Partner and its Affiliates shall not participate in brokerage fees earned by persons through which the Partnership transacts securities trades.
