Common use of Delivery Procedures; Options Allocation Procedure Clause in Contracts

Delivery Procedures; Options Allocation Procedure. (i) Customer shall provide Mxxxxx Sxxxxxx with instructions to liquidate Contracts previously established by Customer; to make or take delivery under any such Contracts; or to exercise options entered into by Customer, within such time limits as may be reasonably specified by Mxxxxx Sxxxxxx. Mxxxxx Sxxxxxx shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until Mxxxxx Sxxxxxx receives oral or written instructions reasonably acceptable to Mxxxxx Sxxxxxx. Funds sufficient to take delivery pursuant to any such Contract or deliverable grade commodities eligible under Applicable Law for the purpose of effecting delivery pursuant to such Contract must be delivered to Mxxxxx Sxxxxxx at such time and in accordance with such procedures as Mxxxxx Sxxxxxx may reasonably require in connection with any such delivery.

Appears in 3 contracts

Samples: Commodity Futures Customer Agreement (Morgan Stanley Smith Barney Spectrum Select Lp), Commodity Futures Customer Agreement (Morgan Stanley Smith Barney Charter Campbell Lp), Commodity Futures Customer Agreement (Morgan Stanley Smith Barney Charter Aspect L.P.)

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Delivery Procedures; Options Allocation Procedure. (i) Customer shall provide Mxxxxx Sxxxxxx Xxxxxx Xxxxxxx with instructions to liquidate Contracts previously established by Customer; to make or take delivery under any such Contracts; or to exercise options entered into by Customer, within such time limits as may be reasonably specified by Mxxxxx SxxxxxxXxxxxx Xxxxxxx. Mxxxxx Sxxxxxx Xxxxxx Xxxxxxx shall have no responsibility to take any action on behalf of Customer or positions in the Account unless and until Mxxxxx Sxxxxxx Xxxxxx Xxxxxxx receives oral or written instructions reasonably acceptable to Mxxxxx SxxxxxxXxxxxx Xxxxxxx. Funds sufficient to take delivery pursuant to any such Contract or deliverable grade commodities eligible under Applicable Law for the purpose of effecting delivery pursuant to such Contract must be delivered to Mxxxxx Sxxxxxx Xxxxxx Xxxxxxx at such time and in accordance with such procedures as Mxxxxx Sxxxxxx Xxxxxx Xxxxxxx may reasonably require in connection with any such delivery.

Appears in 2 contracts

Samples: Futures Customer Agreement, Commodity Futures Customer Agreement (Managed Futures Premier BHM L.P.)

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