Common use of Compliance with CFTC Rules Clause in Contracts

Compliance with CFTC Rules. Without limitation on the authority of the General Partner otherwise arising under this Agreement, the Limited Partners acknowledge and agree that the General Partner may elect, for purposes that may include pre-empting or terminating an obligation on the part of the General Partner or any of its affiliated Persons to register as a commodity pool operator or commodity trading advisor under rules issued by the United States Commodity Futures Trading Commission (or to enable the General Partner or such Persons to qualify for an exemption from such registration), to: (i) manage and conduct the affairs of the Partnership in such manner as the General Partner reasonably determines to be necessary or appropriate to prevent the Partnership from qualifying as a commodity pool within the meaning of such rules; or (ii) otherwise limit the Partnership’s use of swaps, xxxxxx or similar arrangements. The General Partner hereby confirms that it does not intend to operate the Partnership for the purpose of trading in commodity interests within the meaning of Section 1a(10) of the United States Commodity Exchange Act. The General Partner shall alter such intention only upon at least 5 days’ notice to the Limited Partners. If, within 5 days following such notice, 66 2/3% in Interest of the Limited Partners notify the General Partner of their objection to such alteration, the General Partner shall suspend such alteration until such time as such alteration is no longer subject to objection by 66 2/3% in Interest of the Limited Partners.