Duties of the Trading Advisor Sample Clauses

Duties of the Trading Advisor. (a) Upon the commencement of trading operations on or about July 1, 2007 by the Trading Advisor on behalf of the Trading Company, the Trading Advisor hereby agrees to act as a Trading Advisor for the Trading Company and, as such, shall have authority and responsibility for directing the investment and reinvestment of the Trading Company’s assets, which shall consist of the Trading Company’s Net Assets (as defined in Section 5(c) hereof) plus “notional” funds, if any, as specified in writing by the Trading Manager and consented to by the Trading Advisor (the “Assets”), on the terms and conditions and in accordance with the prohibitions and the trading policies set forth in Exhibit A to this Agreement as amended from time to time and provided in writing to the Trading Advisor by the Trading Manager (the “Trading Policies”); provided, however, that the Trading Manager may override the instructions of the Trading Advisor without notice to the Trading Advisor to the extent necessary (i) to comply with the Trading Policies and with applicable speculative position limits, (ii) to fund any distributions or redemptions, (iii) to pay the Trading Company’s expenses, (iv) to the extent the Trading Manager believes doing so is necessary for the protection of the Trading Company, (v) to terminate the futures interest trading of the Trading Company with the Trading Advisor, or (vi) to comply with any applicable law or regulation. The Trading Manager agrees not to override any such instructions for the reasons specified in clauses (ii) or (iii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the Trading Manager to make the necessary amount of funds available to the Trading Company within two trading days of such request. The Trading Advisor shall not be liable for the consequences of any decision by the Trading Manager to override instructions of the Trading Advisor, except to the extent that such consequences result from a material breach of this Agreement by the Trading Advisor or the Trading Advisor fails to comply with the Trading Manager’s decision to override an instruction. (b) The Trading Advisor shall: (i) Exercise good faith and due care in trading futures interests for the account of the Trading Company in accordance with the prohibitions and Trading Policies, and the trading systems, methods, and strategies of the Trading Advisor as disclosed in the Disclosure Information, with such changes and additions to such trading s...

Duties of the Trading Advisor. (a) The Partnership hereby appoints the Trading Advisor, and the Trading Advisor hereby accepts appointment, as a trading advisor of the Partnership in connection with the trading activities of the Partnership. (b) Upon the Trading Advisor's commencing of trading operations for the Partnership and for the period and on the terms and conditions set forth in this Agreement, the Trading Advisor shall have sole authority and responsibility, as the Partnership's agent and

Duties of the Trading Advisor. (a) The Trading Advisor agrees to act as the trading advisor for the Partnership and, as such, shall have sole authority and responsibility for advising the investment and reinvestment of the assets of the Partnership in futures interests on the terms and conditions and in accordance with the restrictions and trading policies set forth in this Agreement, the Partnership's Limited Partnership Agreement as from time to time in effect (the "Limited Partnership Agreement"), and the Prospectus; provided, however, that the General Partner may override the instructions of the Trading Advisor to the extent necessary (i) to comply with the trading policies of the Partnership described in the Limited Partnership Agreement, (ii) to fund any distributions or redemptions, or (iii) to pay the Partnership's expenses. The General Partner agrees not to override any such instructions for the reasons specified in clauses (ii) and (iii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the General Partner to make the necessary amount of funds available to the Partnership within five days of such request. (b) The Trading Advisor shall exercise its best judgment in determining the trades in futures interests for the account of the Partnership in accordance with the restrictions and trading policies of the Partnership and the Trading Advisor's trading strategy as in effect on the date hereof, with such changes and additions to such trading strategy as the Trading Advisor, from time to time, incorporates into its trading approach for accounts the size of the Partnership. (c) All purchases and sales of futures interests pursuant to this Agreement shall be for the account, and at the risk, of the Partnership and not for the account, or at the risk, of the Trading Advisor or any of its stockholders, directors, officers, or employees, or any other person, if any, who controls the Trading Advisor within the meaning of the Securities Act. All brokerage fees and commissions arising from trading by the Trading Advisor shall be for the account of the Partnership. (d) Notwithstanding any provision of this Agreement to the contrary, the Trading Advisor shall assume financial responsibility for any errors committed or caused by it in transmitting orders for the purchase or sale of futures interests for the Partnership's account. The Trading Advisor's errors shall include, but not be limited to, inputting improper trading signals or communicating incorrect...

Duties of the Trading Advisor. (a) The Partnership hereby appoints the Trading Advisor, and the Trading Advisor hereby accepts appointment, as a trading advisor of the Partnership in connection with the trading activities of the Partnership. (b) Upon the Trading Advisor's commencing of trading operations for the Partnership and for the period and on the terms and conditions set forth in this Agreement, the Trading Advisor shall have sole authority and responsibility, as the Partnership's agent and attorney-in-fact, for trading the Allocated Assets in Contracts and in accordance with the Trading 2 Advisor's Diversified System ("Trading Approach"; which term, for purposes of this Agreement, shall include trading approaches, systems, instructions, methods, models, strategies, methodologies and formulas) as described in the disclosure notice dated November 1995 relating to the appointment of the Trading Advisor as a commodity trading advisor of the Partnership (the "Disclosure Notice"), subject to the trading policies of the Partnership furnished to the Trading Advisor in writing ("Trading Policies"). The parties hereto acknowledge that the Trading Advisor will trade Contracts for the Partnership independently of any other trading advisor retained by the Partnership. For purposes of this Agreement, the term "Contracts" shall not include securities and options thereon.

Duties of the Trading Advisor. (a) The Trading Advisor shall act as a commodity pool operator and trading advisor of the Series and to furnish, or arrange for the furnishing of, the commodity pool operator, commodity trading, and other services described below, for the period and on the terms and conditions set forth in this Advisory Agreement (the “Agreement”). Additionally, the Trading Advisor will provide certain administrative, transfer agency and investor services to the Series. The Trading Advisor hereby accepts such employment and agrees during such period, at its own expense, to render, or arrange for the rendering of, such services and to assume the obligations herein set forth for the compensation provided for herein. The Trading Advisor, its affiliates, or any entity performing services for the Series on behalf of the Trading Advisor for all purposes herein shall be deemed to be independent contractors and, unless otherwise expressly provided herein or authorized, shall have no authority to act for or represent the Series in any way or otherwise be deemed agents of the Series.

Duties of the Trading Advisor. 5.1 The Trading Advisor will trade the Account at the Trading Level in accordance with the Trading Strategy and subject to the Trading Restrictions. The Trading Advisor shall have complete discretion over the Account and as the agent of the Master Fund to trade in Instruments and otherwise act as the Trading Advisor judges appropriate. In fulfilling its duties hereunder, the Trading Advisor shall comply with (A) all governmental, regulatory and self-regulatory organization laws, rules and regulations applicable to the Trading Advisor, including, if applicable, the Commodity Exchange Act, as amended (the “CE Act”), and the rules and regulations promulgated by the CFTC thereunder; and (B) applicable rules and regulations of any relevant market or exchange in which it trades the Account. 5.2 The Master Fund and the Manager acknowledge and agree that the Trading Advisor shall not be responsible for the (A) management of any cash, (B) financial leverage arrangements and/or any structured transactions linked to the Account, or (C) currency hedging by or on behalf of the Master Fund. 5.3 Save as set out in the Trading Restrictions, the Master Fund and the Manager each confirm that the Master Fund’s and the Feeder Fund’s investment objectives do not include: (A) any limits or restrictions on the length of time for which it wishes to hold any particular Investment; (B) any preferences regarding risk taking; (C) any particular risk profile; or (D) any particular purpose for its investment activities. 5.4 The Trading Restrictions shall not be deemed to have been breached as a result of any appreciation or depreciation in value caused by a price move or, where any Instrument is held in a currency other than US dollars, an adverse change in exchange rates. If any such Trading Restrictions are exceeded as a result of such events as described in the immediately preceding sentence or are otherwise breached (the “Trading Restriction Breach”), the Trading Advisor shall: (A) so notify the Master Fund and the Manager as soon as practicable as to the Trading Restriction Breach; (B) consult with the Master Fund and the Manager as to the steps to be taken to remedy the Trading Restriction Breach; and (C) take such action as deemed necessary to remedy the Trading Restriction Breach, including, but not limited to, acquiring or disposing of, as the case may be, Instruments in the Account which resulted in the Trading Restriction Breach, or would result in any Trading Restrictions b...

Duties of the Trading Advisor. (a) (i) The Sponsor shall appoint the Trading Advisor to have discretionary authority and responsibility for independently directing the Futures Interest trading pursuant to the trading program and strategy agreed upon by the Sponsor and the Trading Advisor and disclosed in the Memorandum (the “Program”), as the same may be modified from time to time by the Trading Advisor as a result of its ongoing commitment to research and development. Any such change will not be deemed to constitute a material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) and may be made without prior notification to the Sponsor. However, any material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) (such change to be determined as material in the Trading Advisor’s reasonable discretion) will only be made upon giving the Sponsor at least twenty Business Days’ prior written notice (a “Business Day” means any day on which banks in New York City are not required or authorized to close). The Trading Advisor may, on behalf of the Trading Fund and subject to Section 1(a)(iii) and Section 7, execute transactions in Futures Interests on either a principal or an agency basis, with or through such clearing brokers as approved by the Sponsor and executing brokers selected by the Trading Advisor, provided that the Trading Fund shall be a party to all “give-up” agreements, from time to time. This limited authority granted to the Trading Advisor is a continuing power and shall continue in effect with respect to the Trading Advisor until terminated hereunder.

Duties of the Trading Advisor. (i) The Sponsor shall appoint the Trading Advisor to have discretionary authority and responsibility for independently directing the Futures Interest trading pursuant to the trading program and strategy agreed upon by the Sponsor and the Trading Advisor and disclosed in the Memorandum (the "Program"), as the same may be modified from time to time by the Trading Advisor as a result of its ongoing commitment to research and development. Any such change will not be deemed to constitute a material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) and may be made without prior notification to the Sponsor. However, any material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) (such change to be determined as material in the Trading Advisor's reasonable discretion) will only be made upon giving the Sponsor at least twenty Business Days' prior written notice (a "Business Day" means any day on which banks in New York City are not required or authorized to close). The Trading Advisor may, on behalf of the Trading Fund and subject to Section 1(a)(iii) and Section 7, execute transactions in Futures Interests on either a principal or an agency basis, with or through affiliates of the Sponsor or third parties. This limited authority granted to the Trading Advisor is a continuing power and shall continue in effect with respect to the Trading Advisor until terminated hereunder. (ii) In the event the Trading Advisor proposes to make any material changes to the Program, the Trading Advisor will so inform the Sponsor and will not make any such change -- with respect to the Trading Fund, not the Trading Advisor's other accounts -- to which the Sponsor objects (in which case the Trading Advisor will be free to terminate this Agreement pursuant to Section 10). "Material changes" for such purposes shall not include simply adding or removing a Futures Interest to or from the group of Futures Interests traded on behalf of the Trading Fund (subject to Section 1(c)).

Duties of the Trading Advisor. (a) Upon the commencement of trading operations on or about November 1, 2008 by the Trading Advisor with respect to a portion of the assets of the Fund, the Trading Advisor hereby agrees to act as a Trading Advisor for the Fund and, as such, shall have authority and responsibility for directing the investment and reinvestment of that portion of the Fund’s assets that is allocated to the Trading Advisor, which shall consist of the Allocated Net Assets (as defined in Section 5(c) hereof) plus “notional” funds, if any, allocated to the Trading Advisor as specified in writing by the Managing Owner and consented to by the Trading Advisor (the “Assets”), on the terms and conditions and in accordance with the prohibitions and the trading policies set forth in Exhibit A to this Agreement as amended from time to time and provided in writing to the Trading Advisor by the Managing Owner (the “Trading Policies”); provided, (b) The Trading Advisor shall: (i) Exercise good faith and due care in trading futures interests for the Account in accordance with the Trading Policies and trading systems, methods, and strategies of the Trading Advisor described in the Disclosure Document, with such changes and additions to such trading systems, methods or strategies as the Trading Advisor, from time to time, incorporates into its trading approach for accounts of a similar size to the Account. (ii) Provide the Managing Owner, within 45 days of a request which the Managing Owner may make from time to time, with information comparing the performance of the Account and the performance of all other client accounts (“Other Accounts”) directed by the Trading Advisor using the trading systems, methods and strategies used by the Trading Advisor on behalf of the Account over a specified period of time for the purpose of confirming that the Account has been treated equitably compared to such Other Accounts. In providing such information, the Trading Advisor may take such steps as are necessary to assure the confidentiality of the Trading Advisor’s clients’ identities. The Trading Advisor shall, upon the Managing Owner’s request, consult with the Managing Owner concerning any discrepancies between the performance of such Other Accounts and the Account. The Trading Advisor shall promptly inform the Managing Owner in writing of any material discrepancies between the performance of Other Accounts and the performance of the Account of which the Trading Advisor is aware. The Managing Owner acknow...

Duties of the Trading Advisor. (a) Limited partnership interests in the Partnership will be offered in a offering exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(2) thereof and Regulation D promulgated thereunder (together, the “1933 Act”). The Partnership will be as described in a Confidential Offering Memorandum (the “Memorandum”) filed with the National Futures Association (the “NFA”). The Trading Advisor will utilize its Global Directional Portfolio trading strategy in connection with its management of the Partnership’s assets. The aggregate amount allocated to the Trading Advisor including notional funds, together with cumulative profits thereon as a result of its investment activities on behalf of the Partnership, including any interest income earned thereon, less any allocated fees and expenses and adjusted for additions and withdrawals, shall be the “Trading Advisor’s Allocated Assets.” Management and performance fees paid or accrued, commissions charged, and any other specific liabilities attributable to the Partnership’s account maintained at its futures commission brokers shall be chargeable to such account. (b) The Trading Advisor shall determine the investment and reinvestment of the Trading Advisor’s Allocated Assets on the terms and conditions set forth in this Agreement and in accordance with the Trading Policies set forth in the current Memorandum and the Trading Advisor’s Global Directional Portfolio trading strategy (which term, for purposes of this Agreement, shall include trading instructions, methods and systems), as described in the latest dislosure document field by the Trading Advisor with the NFA or Commodity Futures Trading Commission (the “CFTC”). The Trading Advisor shall have sole discretion and use its best efforts in determining independently the investment and reinvestment of the Trading Advisor’s Allocated Assets pursuant to the Global Directional Portfolio trading strategy, except that the General Partner may overrule the instructions of the Trading Advisor (i) to the extent necessary to comply with speculative position limits, (ii) to the extent that the General Partner believes doing so is necessary or advisable for the protection of the Partnership, or (iii) to the extent otherwise described herein. (c) The Trading Advisor may, in its discretion, alter the Global Directional Portfolio trading strategy in investing and reinvesting the Trading Advisor’s Allocated Assets, provided that the Trading Advisor de...