Common use of ERROR POLICY Clause in Contracts

ERROR POLICY. The provisions of Section 2(d) of this Agreement shall be interpreted to mean that the benefit of profitable trading errors made by the CTA when trading on behalf of the Funds shall be awarded to the Funds, whereas the detriment of unprofitable trading errors made by the CTA when trading on behalf of the Funds must be borne by the CTA. EXHIBIT B COMMODITY TRADING AUTHORITY Dear Blenheim Capital Management, L.L.C.: Mxxxxx Sxxxxxx Xxxxx Bxxxxx BHM I, LLC (the “Trading Company”) and Ceres Managed Futures LLC, the Trading Company’s Trading Manager (the “Trading Manager”) do hereby make, constitute and appoint you as the Trading Company’s attorney-in-fact to buy and sell futures and forward contracts through such futures commission merchants as shall be agreed on by you and the Trading Manager on behalf of the Trading Company, pursuant to the trading program identified in the Agreement among the Trading Company, the Trading Manager and you as of the 1st day of March 2014, as amended or supplemented, and in accordance with the terms and conditions of said Agreement. The Trading Company and the Trading Manager hereby acknowledge that the Trading Advisor has filed a notice of exemption pursuant to CFTC Regulation 4.7 and represents to the Trading Advisor that the Trading Company is a Qualified Eligible Person (“QEP”) as such term is defined in CFTC Regulation 4.7. Accordingly, the Trading Company gives its consent that it be treated as a QEP and that its account be considered an exempt account under said §4.7. Therefore, without limitation, the Trading Company and the Trading Manager acknowledge the following: PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THE BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THE BROCHURE OR ACCOUNT DOCUMENT. This authorization shall terminate and be null, void and of no further effect simultaneously with the termination of the said Agreement. Very truly yours, MXXXXX SXXXXXX MANAGED FUTURES BHM I, LLC by Ceres Managed Futures LLC, Trading Manager By Alper Daglioglu President and Director CERES MANAGED FUTURES LLC By Alper Daglioglu President and Director EXHIBIT C FUTURES INTERESTS TRADED Schedule 1 List of Members, as of March 1, 2014 Managed Futures Premier BHM L.P. Meritage Futures Fund L.X. Xxxxxx Xxxxxxx Managed Futures Custom Solutions Fund LX Xxxxxx Sxxxxxx Xxxxx Bxxxxx Spectrum Strategic L.P. Polaris Futures Fund L.P.

ERROR POLICY. The provisions of Section 2(d) of this Agreement shall be interpreted to mean that the benefit of profitable trading errors made by the CTA when trading on behalf of the Funds shall be awarded to the Funds, whereas the detriment of unprofitable trading errors made by the CTA when trading on behalf of the Funds must be borne by the CTA. EXHIBIT B COMMODITY TRADING AUTHORITY Dear Blenheim Capital Management, L.L.C.: Mxxxxx Sxxxxxx Xxxxxx Xxxxxxx Xxxxx Bxxxxx Xxxxxx BHM I, LLC (the “Trading Company”) and Ceres Managed Futures LLC, the Trading Company’s Trading Manager (the “Trading Manager”) do hereby make, constitute and appoint you as the Trading Company’s attorney-in-fact to buy and sell futures and forward contracts through such futures commission merchants as shall be agreed on by you and the Trading Manager on behalf of the Trading Company, pursuant to the trading program identified in the Agreement among the Trading Company, the Trading Manager and you as of the 1st day of March 2014, as amended or supplemented, and in accordance with the terms and conditions of said Agreement. The Trading Company and the Trading Manager hereby acknowledge that the Trading Advisor has filed a notice of exemption pursuant to CFTC Regulation 4.7 and represents to the Trading Advisor that the Trading Company is a Qualified Eligible Person (“QEP”) as such term is defined in CFTC Regulation 4.7. Accordingly, the Trading Company gives its consent that it be treated as a QEP and that its account be considered an exempt account under said §4.7. Therefore, without limitation, the Trading Company and the Trading Manager acknowledge the following: PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THE BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THE BROCHURE OR ACCOUNT DOCUMENT. This authorization shall terminate and be null, void and of no further effect simultaneously with the termination of the said Agreement. Very truly yours, MXXXXX SXXXXXX XXXXXX XXXXXXX MANAGED FUTURES BHM I, LLC by Ceres Managed Futures LLC, Trading Manager By Alper /s/ Xxxxx Xxxxxxxxx Xxxxx Daglioglu President and Director CERES MANAGED FUTURES LLC By Alper /s/ Xxxxx Xxxxxxxxx Xxxxx Daglioglu President and Director EXHIBIT C FUTURES INTERESTS TRADED Schedule 1 List of Members, as of March 1, 2014 Managed Futures Premier BHM L.P. Meritage Futures Fund L.X. X.X. Xxxxxx Xxxxxxx Managed Futures Custom Solutions Fund LX XX Xxxxxx Sxxxxxx Xxxxxxx Xxxxx Bxxxxx Xxxxxx Spectrum Strategic L.P. Polaris Futures Fund L.P.

ERROR POLICY. The provisions of Section 2(d) of this Agreement shall be interpreted to mean that the benefit of profitable trading errors made by the CTA when trading on behalf of the Funds shall be awarded to the Funds, whereas the detriment of unprofitable trading errors made by the CTA when trading on behalf of the Funds must be borne by the CTA. EXHIBIT B COMMODITY TRADING AUTHORITY Dear Blenheim Capital Management, L.L.C.: Mxxxxx Sxxxxxx Xxxxxx Xxxxxxx Xxxxx Bxxxxx Xxxxxx BHM I, LLC (the “Trading Company”) and Ceres Managed Futures LLC, the Trading Company’s Trading Manager (the “Trading Manager”) do hereby make, constitute and appoint you as the Trading Company’s attorney-in-fact to buy and sell futures and forward contracts through such futures commission merchants as shall be agreed on by you and the Trading Manager on behalf of the Trading Company, pursuant to the trading program identified in the Agreement among the Trading Company, the Trading Manager and you as of the 1st day of March 2014, as amended or supplemented, and in accordance with the terms and conditions of said Agreement. The Trading Company and the Trading Manager hereby acknowledge that the Trading Advisor has filed a notice of exemption pursuant to CFTC Regulation 4.7 and represents to the Trading Advisor that the Trading Company is a Qualified Eligible Person (“QEP”) as such term is defined in CFTC Regulation 4.7. Accordingly, the Trading Company gives its consent that it be treated as a QEP and that its account be considered an exempt account under said §4.7. Therefore, without limitation, the Trading Company and the Trading Manager acknowledge the following: PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THE BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THE BROCHURE OR ACCOUNT DOCUMENT. This authorization shall terminate and be null, void and of no further effect simultaneously with the termination of the said Agreement. Very truly yours, MXXXXX SXXXXXX XXXXXX XXXXXXX MANAGED FUTURES BHM I, LLC by Ceres Managed Futures LLC, Trading Manager By Alper Daglioglu President and Director CERES MANAGED FUTURES LLC By Alper Daglioglu President and Director EXHIBIT C FUTURES INTERESTS TRADED Schedule 1 List of Members, as of March 1, 2014 Managed Futures Premier BHM L.P. Meritage Futures Fund L.X. X.X. Xxxxxx Xxxxxxx Managed Futures Custom Solutions Fund LX XX Xxxxxx Sxxxxxx Xxxxxxx Xxxxx Bxxxxx Xxxxxx Spectrum Strategic L.P. Polaris Futures Fund L.P.

ERROR POLICY. The Liability for all Errors shall be calculated in accordance with the provisions of Section 2(d) of this Agreement Agreement. BORROWING: · The CTA shall be interpreted not use borrowed money to mean that the benefit of profitable trading errors made leverage any trades, unless otherwise approved by the CTA when trading on behalf of the Funds shall be awarded to the Funds, whereas the detriment of unprofitable trading errors made by the CTA when trading on behalf of the Funds must be borne by the CTA. General Partner EXHIBIT B COMMODITY TRADING AUTHORITY Dear Blenheim Capital Management, L.L.C.Grinham Managed Futures Pty. Ltd: Mxxxxx Sxxxxxx Xxxxx Bxxxxx BHM Managed Futures GMF I, LLC (the “"Trading Company”") and Ceres Managed Futures LLCDemeter Management Corporation, the Trading Company’s 's Trading Manager (the “"Trading Manager”") do hereby make, constitute and appoint you as the Trading Company’s 's attorney-in-fact to buy and sell futures and forward contracts through such futures commission merchants as shall be agreed on by you and the Trading Manager on behalf of the Trading Company, pursuant to the trading program identified in the Agreement among the Trading Company, the Trading Manager Manger and you as of the 1st day of March 2014April, 2008, as amended or supplemented, and in accordance with the terms and conditions of said Agreement. The Trading Company and the Trading Manager hereby acknowledge that the Trading Advisor has filed a notice of exemption pursuant to CFTC Regulation 4.7 and represents to the Trading Advisor that the Trading Company is a Qualified Eligible Person (“QEP”) as such term is defined in CFTC Regulation 4.7. Accordingly, the Trading Company gives its consent that it be treated as a QEP and that its account be considered an exempt account under said §4.7. Therefore, without limitation, the Trading Company and the Trading Manager acknowledge the following: PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THE BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THE BROCHURE OR ACCOUNT DOCUMENT. This authorization shall terminate and be null, void and of no further effect simultaneously with the termination of the said Agreement. Very truly yours, MXXXXX SXXXXXX MANAGED FUTURES BHM GMF I, LLC by Ceres Managed Futures LLC, by: Demeter Management Corporation Trading Manager By Alper Daglioglu Wxxxxx Xxxxx Chairman and President DEMETER MANAGEMENT CORPORATION By: Wxxxxx Xxxxx Chairman and Director CERES MANAGED FUTURES LLC By Alper Daglioglu President and Director EXHIBIT C FUTURES INTERESTS INTERSTS TRADED Schedule 1 List Markets Traded by the Grinham. Diversified Program March 2008 Equity Futures Contracts: CBOT CME CME Eurex Eurex Euronext HKFE LIFFE SFE SIMEX HKFE CME SGX SIMEX Mini-DJIA Mini-S&P Mini-Nasdaq Eurex DAX DJ Euro Stoxx CAC40 Hang Seng FTSE 100 SPI200 Nikkei-SIMEX HK China Mini - Rxxxxxx 2000 Nifty Taiwan Bond/Cash Futures Contracts: CBOT CBOT CBOT CME Eurex Eurex LIFFE SFE SFE SIMEX TSE Eurex Eurex Euronext CBOT US T-Bonds US 10YR TNote US 5YR TNote Eurodollars Eurex Bunds Euro Bobl Long Gilts AUS 10 Yr Bonds AUS 3 Yr Bonds JGB-SIMEX JGB-TSE Euro Sxxxx Euribor Short Sterling 2 Yr Note Commodity Futures Contracts: Wheat Soybeans Soybean Meal Soybean Oil Live Cattle Copper Silver Gold Sugar RBOB Gas Coffee Cotton Crude Oil Heating Oil Natural Gas Cxxx Xxxxx Crude Gas Oil Cocoa Robusta Coffee Foreign Exchange Futures Contracts: British Pound Japanese Yen Euro Swiss Franc CBOT CBOT CBOT CBOT CME CMX CMX CMX CSCE ICE NYBOT NYBOT NYMEX NYMEX NYMEX CBOT ICE ICE NYBOT Euronext CME CME CME CME Foreign Exchange Cash Settled (spot and forwards with maturity date of Members, as of March 1, 2014 Managed Futures Premier BHM L.P. Meritage Futures Fund L.X. Xxxxxx Xxxxxxx Managed Futures Custom Solutions Fund LX Xxxxxx Sxxxxxx Xxxxx Bxxxxx Spectrum Strategic L.P. Polaris Futures Fund L.P.less than 12 months): GBP/USD OTC JPY/USD OTC EUR/USD OTC CHF/USD OTC