Delivery Procedures; Options Allocation Procedure. Customer will provide Morgan Stanley with instructions either to liquidate Contracts prevxxxxxx xxxxxxxshed by Customer, make or take delivery under any such Contracts, or exercise options entered into by Customer, within such time limits as may be specified by Morgan Stanley. Morgan Stanley shall have no responsibility to take xxx xcxxxx xx bxxxxx ox Xxxxxmer or positions in the Account unless and until Morgan Stanley receives oral or written instructions reasonably accxxxxxxe xx Xxxgan Stanley indicating the action Morgan Stanley is to take. Funxx xxxfxxxxxx to take delivery pursuaxx xx sxxx Xxxtract or deliverable grade commodities to make delivery pursuant to such Contract must be delivered to Morgan Stanley at such time as Morgan Stanley may require in connecxxxx xixx xxx delivery. Short xxxxxx Xxxxxxxts may be subject to exercise at any time. Exercise notices received by Morgan Stanley from the applicable contract market with respect to xxxxxx Xxxxxxxts sold by Customer may be allocated to Customer pursuant to a random allocation procedure, and Customer shall be bound by any such allocation of exercise notices. In the event of any allocation to Customer, unless Morgan Stanley has previously received instructions from Customer, Xxxxxx Xxxxxxx's sole responsibility shall be to use its best efforxx xx xxxxxx Xxxtomer of such allocation. If Customer fails to comply with any of the foregoing obligations, Morgan Stanley may, in its sole and absolute discretion, liquidate xxx xxex xxxxxions, make or receive delivery of any commodities or instruments, or exercise or allow the expiration of any options, in such manner and on such terms as Morgan Stanley, in its sole and absolute discretion, deems necessarx xx xpxxxxxxxte, and Customer shall indemnify and hold Morgan Stanley harmless as a result of any action taken or not takex xx Xoxxxx Xxanley in connection therewith or pursuant to Customer's inxxxxxxixxx. Xinancial and Other Information. Customer shall provide to Morgan Stanley such financial information regarding Customer as Morxxx Xxaxxxx xxy from time to time reasonably request. Customer sxxxx xoxxxx Xxrgan Stanley immediately (and no later than within one business dxx) xx xxx xxxancial condition of Customer changes materially and adversely from that shown in the most recent financial information theretofore provided to Morgan Stanley. An investigation may be conducted pertaining to Cusxxxxx's xxxxxx standing and business. Currency Exchange Risk. Customer shall bear all risk and cost in respect of the conversion of currencies incident to transactions effected on behalf of Customer pursuant hereto.
Appears in 9 contracts
Samples: Commodity Futures Customer Agreement (Witter Dean World Currency Fund L P), Commodity Futures Customer Agreement (Dean Witter Global Perspective Portfolio L P), Commodity Futures Customer Agreement (Witter Dean Cornerstone Fund Iv)
