Common use of Commodity Pool Clause in Contracts

Commodity Pool. Either (a) the Company is not a “pool” under the CEA and the regulations of the CFTC thereunder because it does not trade “commodity interests” or (b) to the extent the Company is or becomes a pool under the CEA and the CFTC regulations thereunder, the Adviser will avail itself of no-action relief from commodity pool operator registration.

Commodity Pool. Either (a) the Company is not a “pool” under the CEA Commodity Exchange Act (the “CEA”) and the regulations of the CFTC Commodity Futures Trading Commission (the “CFTC”) thereunder because it does not trade “commodity interests” or (b) to the extent the Company is or becomes a pool under the CEA and the CFTC regulations thereunder, the Adviser will avail itself of thereunder whose commodity pool operator is eligible for and has claimed no-action relief from commodity pool operator registrationregistration with regard to its operation of the Company.

Commodity Pool. Either (aA) the Company is not a “pool” under the CEA Commodity Exchange Act (the “CEA”) and the regulations of the CFTC Commodity Futures Trading Commission (the “CFTC”) thereunder because it does not trade “commodity interests,” or (bB) to the extent the Company is or becomes a pool under the CEA and the CFTC regulations thereunder, the Adviser will avail itself of thereunder whose commodity pool operator is eligible for and has claimed no-action relief from commodity pool operator registrationregistration with regard to its operation of the Company.