Indirect Action. (a) It is of the essence to this Agreement that no Member nor the Sponsor be permitted to do indirectly -- by the use of Affiliates, agents, agreements, contracts, reciprocal business dealings or any other means -- that which this Agreement provides that such Member or the Sponsor not do directly. Furthermore, it is the express intent of all Members and the Sponsor that all Members and the Sponsor shall comply in all respects with the substantive purposes of this Agreement and that technical compliance shall constitute a breach hereof to the extent that it contravenes or does not fully achieve such substantive purposes.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (UBS Managed Futures LLC (Aspect Series)), Limited Liability Company Agreement (UBS Managed Futures LLC (Aspect Series))
Indirect Action. (a) It is of the essence to this Agreement that no Member nor the Sponsor be permitted to do indirectly -- β by the use of Affiliates, agents, agreements, contracts, reciprocal business dealings or any other means -- β that which this Agreement provides that such Member or the Sponsor not do directly. Furthermore, it is the express intent of all Members and the Sponsor that all Members and the Sponsor shall comply in all respects with the substantive purposes of this Agreement and that technical compliance shall constitute a breach hereof to the extent that it contravenes or does not fully achieve such substantive purposes.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (AlphaMetrix Managed Futures III LLC (AlphaMetrix WC Diversified Series)), Limited Liability Company Agreement (UBS Managed Futures LLC (Aspect Series))
