Common use of INVESTMENT OF CASH RESERVES Clause in Contracts

INVESTMENT OF CASH RESERVES. The Sponsor shall allocate and reallocate Systematic Momentum FuturesAccess’ capital among different FuturesAccess Funds, attempting to adapt Systematic Momentum FuturesAccess’ overall portfolio to changing market conditions while also achieving diversification in the trading strategies implemented for Systematic Momentum FuturesAccess. The FuturesAccess Funds among which Systematic Momentum FuturesAccess allocates its capital may execute transactions in commodity interests, currency interests, swap agreements and any other manner of instruments, on either a principal or an agency basis, with or through affiliates of the Sponsor (the Sponsor and its affiliates, including Bank of America Corporation, collectively “BAC”) or third parties. The sole clearing broker and the principal forward trading counterparty for the FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ capital shall be BAC unless the Sponsor otherwise determines and such change is not materially adverse to the interests of the Investors. The FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ capital shall deposit all or substantially all of their capital with BAC or any other clearing brokers selected by the Sponsor pursuant to the arrangements described in the disclosure document for Systematic Momentum FuturesAccess, including any and all parts or sections thereof and exhibits or supplements thereto (the “Disclosure Document”), all Investors acknowledging that BAC will not only receive futures brokerage commissions and bid-ask spreads from the FuturesAccess Funds but also will retain significant economic benefits from the possession of the FuturesAccess Funds’ assets (including assets representing Systematic Momentum FuturesAccess’ investment in such FuturesAccess Fund) in addition to the interest which BAC will credit to Systematic Momentum FuturesAccess’ account. In addition, the Sponsor may maintain Systematic Momentum FuturesAccess’ reserve assets (as well as those of the FuturesAccess Funds) in Systematic Momentum FuturesAccess LLC

INVESTMENT OF CASH RESERVES. The Sponsor shall allocate and reallocate Systematic Momentum FuturesAccess’ ' capital among different FuturesAccess Funds, attempting to adapt Systematic Momentum FuturesAccess’ ' overall portfolio to changing market conditions while also achieving diversification in the trading strategies implemented for Systematic Momentum FuturesAccess. The FuturesAccess Funds among which Systematic Momentum FuturesAccess allocates its capital may execute transactions in commodity interests, currency interests, swap agreements agreements, and any other manner of instruments, on either a principal or an agency basis, with or through affiliates of the Sponsor (the Sponsor and its affiliates, including Bank of America Corporation, collectively “BAC”such affiliates being hereafter referred to as "Merrill Lynch") or third parties. The sole clearing Xxx xxxe xxxxring broker and the principal forward trading counterparty for the Systematic Momentum FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ ' capital shall be BAC unless the Sponsor otherwise determines and such change is not materially adverse to the interests of the InvestorsMerrill Lynch. The FuturesAccess Funds among which Xxxxx xmxxx xhich the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ ' capital shall deposit all or substantially all of their capital with BAC Merrill Lynch or any other clearing brokers selected clearinx xxxxxrx xxxected by the Sponsor pursuant to the arrangements described in the disclosure document for Systematic Momentum FuturesAccessFuturesAccess Confidential Program Disclosure Document, including any and all parts or sections thereof and exhibits or supplements thereto as it may be amended from time to time (the “"Confidential Program Disclosure Document”"), all Investors acknowledging that BAC Merrill Lynch will not only receive futures brokerage receivx xxxxxex xxxkerage commissions and bid-ask spreads from the FuturesAccess Funds but also will retain significant economic benefits from the possession of the FuturesAccess Funds’ ' assets (including assets representing Systematic Momentum FuturesAccess’ ' investment in such FuturesAccess Fund) in addition to the interest which BAC Merrill Lynch will credit to Systematic Momentum Systexxxxx Xoxxxxxm FuturesAccess’ ' account. In addition, the Sponsor may maintain Systematic Momentum FuturesAccess’ ' reserve assets (as well as those of the FuturesAccess Funds) in deposit or similar accounts with one or more affiliates of the Sponsor, which affiliates may benefit from the possession of such assets, as well as with unaffiliated entities. The interest paid by such affiliated and unaffiliated entities on Systematic Momentum FuturesAccess' and the FuturesAccess Funds' cash so invested will be paid to Systematic Momentum FuturesAccess LLCor such FuturesAccess Funds, as the case may be. However, neither the Sponsor nor any of its affiliates (or any third parties) will be obligated to account to Systematic Momentum FuturesAccess, any FuturesAccess Fund or any Investor for the additional economic benefits which the Sponsor or any such affiliate may derive from possession of Systematic Momentum FuturesAccess' assets.

INVESTMENT OF CASH RESERVES. The Sponsor shall allocate and reallocate Systematic Momentum FuturesAccess’ capital among different FuturesAccess Funds, attempting to adapt Systematic Momentum FuturesAccess’ overall portfolio to changing market conditions while also achieving diversification in the trading strategies implemented for Systematic Momentum FuturesAccess. The FuturesAccess Funds among which Systematic Momentum FuturesAccess allocates its capital may execute transactions in commodity interests, currency interests, swap agreements agreements, and any other manner of instruments, on either a principal or an agency basis, with or through affiliates of the Sponsor (the Sponsor and its affiliates, including Bank of America Corporation, collectively such affiliates being hereafter referred to as “BACXxxxxxx Xxxxx”) or third parties. The sole clearing broker and the principal forward trading counterparty for the Systematic Momentum FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ capital shall be BAC unless the Sponsor otherwise determines and such change is not materially adverse to the interests of the InvestorsXxxxxxx Xxxxx. The FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ capital shall deposit all or substantially all of their capital with BAC Xxxxxxx Xxxxx or any other clearing brokers selected by the Sponsor pursuant to the arrangements described in the disclosure document for Systematic Momentum FuturesAccessFuturesAccess Confidential Program Disclosure Document, including any and all parts or sections thereof and exhibits or supplements thereto as it may be amended from time to time (the “Confidential Program Disclosure Document”), all Investors acknowledging that BAC Xxxxxxx Xxxxx will not only receive futures brokerage commissions and bid-ask spreads from the FuturesAccess Funds but also will retain significant economic benefits from the possession of the FuturesAccess Funds’ assets (including assets representing Systematic Momentum FuturesAccess’ investment in such FuturesAccess Fund) in addition to the interest which BAC Xxxxxxx Xxxxx will credit to Systematic Momentum FuturesAccess’ account. In addition, the Sponsor may maintain Systematic Momentum FuturesAccess’ reserve assets (as well as those of the FuturesAccess Funds) in deposit or similar accounts with one or more affiliates of the Sponsor, which affiliates may benefit from the possession of such assets, as well as with unaffiliated entities. The interest paid by such affiliated and unaffiliated entities on Systematic Momentum FuturesAccess’ and the FuturesAccess Funds’ cash so invested will be paid to Systematic Momentum FuturesAccess LLCor such FuturesAccess Funds, as the case may be. However, neither the Sponsor nor any of its affiliates (or any third parties) will be obligated to account to Systematic Momentum FuturesAccess, any FuturesAccess Fund or any Investor for the additional economic benefits which the Sponsor or any such affiliate may derive from possession of Systematic Momentum FuturesAccess’ assets.

INVESTMENT OF CASH RESERVES. The Sponsor shall allocate and reallocate Systematic Momentum FuturesAccess’ capital among different FuturesAccess Funds, attempting to adapt Systematic Momentum FuturesAccess’ overall portfolio to changing market conditions while also achieving diversification in the trading strategies implemented for Systematic Momentum FuturesAccess. The FuturesAccess Funds among which Systematic Momentum FuturesAccess allocates its capital may execute transactions in commodity interests, currency interests, swap agreements agreements, and any other manner of instruments, on either a principal or an agency basis, with or through affiliates of the Sponsor (the Sponsor and its affiliates, including Bank of America Corporation, collectively such affiliates being hereafter referred to as “BACXxxxxxx Xxxxx”) or third parties. The sole clearing broker and the principal forward trading counterparty for the FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ capital shall be BAC Xxxxxxx Xxxxx unless the Sponsor otherwise determines and such change is not materially adverse to the interests of the Investors. The FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ capital shall deposit all or substantially all of their capital with BAC Xxxxxxx Xxxxx or any other clearing brokers selected by the Sponsor pursuant to the arrangements described in the disclosure document for Systematic Momentum FuturesAccess, including any and all parts or sections thereof and exhibits or supplements thereto “Part One (A) Confidential Program Disclosure Document: FuturesAccessSM Program General Information,” the “Part One (B) Confidential Program Disclosure Document: Trading Advisor Information” and the “Part Two Confidential Program Disclosure Document: Statement of Additional Information,” as they may be updated or supplemented from time to time (collectively, the “Confidential Program Disclosure Document”), all Investors acknowledging that BAC Xxxxxxx Xxxxx will not only receive futures brokerage commissions and bid-ask spreads from the FuturesAccess Funds but also will retain significant economic benefits from the possession of the FuturesAccess Funds’ assets (including assets representing Systematic Momentum FuturesAccess’ investment in such FuturesAccess Fund) in addition to the interest which BAC Xxxxxxx Xxxxx will credit to Systematic Momentum FuturesAccess’ account. In addition, the Sponsor may maintain Systematic Momentum FuturesAccess’ reserve assets (as well as those of the FuturesAccess Funds) in deposit or similar accounts with, or in money market funds advised or sponsored by, one or more affiliates of the Sponsor, which affiliates may benefit from the possession of such assets, as well as with unaffiliated entities. The interest paid by such affiliated and unaffiliated entities on Systematic Momentum FuturesAccess’ and the FuturesAccess Funds’ cash so invested will be paid to Systematic Momentum FuturesAccess LLCor such FuturesAccess Funds, as the case may be. However, neither the Sponsor nor any of its affiliates (or any third parties) will be obligated to account to Systematic Momentum FuturesAccess, any FuturesAccess Fund or any Investor for the additional economic benefits which the Sponsor or any such affiliate may derive from possession of Systematic Momentum FuturesAccess’ assets.

INVESTMENT OF CASH RESERVES. The Sponsor shall allocate and reallocate Systematic Momentum FuturesAccess’ capital among different FuturesAccess Funds, attempting to adapt Systematic Momentum FuturesAccess’ overall portfolio to changing market conditions while also achieving diversification in the trading strategies implemented for Systematic Momentum FuturesAccess. The FuturesAccess Funds among which Systematic Momentum FuturesAccess allocates its capital may execute transactions in commodity interests, currency interests, swap agreements and any other manner of instruments, on either a principal or an agency basis, with or through affiliates of the Sponsor (the Sponsor and its affiliates, including Bank of America Corporation, collectively “BAC”) or third parties. The sole clearing broker and the principal forward trading counterparty for the FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ capital shall be BAC unless the Sponsor otherwise determines and such change is not materially adverse to the interests of the Investors. The FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ capital shall deposit all or substantially all of their capital with BAC or any other clearing brokers selected by the Sponsor pursuant to the arrangements described in the disclosure document for Systematic Momentum FuturesAccess, including any and all parts or sections thereof and exhibits or supplements thereto (the “Disclosure Document”), all Investors acknowledging that BAC will not only receive futures brokerage commissions and bid-ask spreads from the FuturesAccess Funds but also will retain significant economic benefits from the possession of the FuturesAccess Funds’ assets (including assets representing Systematic Momentum FuturesAccess’ investment in such FuturesAccess Fund) in addition to the interest which BAC will credit to Systematic Momentum FuturesAccess’ account. In addition, the Sponsor may maintain Systematic Momentum FuturesAccess’ reserve assets (as well as those of the FuturesAccess Funds) in Systematic Momentum FuturesAccess LLCin

INVESTMENT OF CASH RESERVES. The Sponsor shall allocate and reallocate Systematic Momentum FuturesAccess’ ' capital among different FuturesAccess Funds, attempting to adapt Systematic Momentum FuturesAccess’ ' overall portfolio to changing market conditions while also achieving diversification in the trading strategies implemented for Systematic Momentum FuturesAccess. The FuturesAccess Funds among which Systematic Momentum FuturesAccess allocates its capital may execute transactions in commodity interests, currency interests, swap agreements and any other manner of instruments, on either a principal or an agency basis, with or through affiliates of the Sponsor (the Sponsor and its affiliates, including Bank of America Corporation, collectively “"BAC”") or third parties. The sole clearing broker and the principal forward trading counterparty for the FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ ' capital shall be BAC unless the Sponsor otherwise determines and such change is not materially adverse to the interests of the Investors. The FuturesAccess Funds among which the Sponsor allocates and reallocates Systematic Momentum FuturesAccess’ ' capital shall deposit all or substantially all of their capital with BAC or any other clearing brokers selected by the Sponsor pursuant to the arrangements described in the disclosure document for Systematic Momentum FuturesAccess, including any and all parts or sections thereof and exhibits or supplements thereto (the “"Disclosure Document”"), all Investors acknowledging that BAC will not only receive futures brokerage commissions and bid-ask spreads from the FuturesAccess Funds but also will retain significant economic benefits from the possession of the FuturesAccess Funds’ ' assets (including assets representing Systematic Momentum FuturesAccess’ ' investment in such FuturesAccess Fund) in addition to the interest which BAC will credit to Systematic Momentum FuturesAccess’ ' account. In addition, the Sponsor may maintain Systematic Momentum FuturesAccess’ ' reserve assets (as well as those of the FuturesAccess Funds) in Systematic Momentum FuturesAccess LLCin