Common use of Offering and Sale of Units Clause in Contracts

Offering and Sale of Units. (a) Subject to the terms and conditions, and on the basis of the representations, warranties and covenants set forth in this Agreement, the Managing Owner, the Trust and each Fund hereby appoint the Placement Agent as the initial exclusive selling agent with respect to the Offering, and the Placement Agent agrees to use its best efforts to procure Subscribers for Units in one or more Initial Funds during the Initial Offering Period and the Continuous Offering Period on the terms and conditions set forth in the Prospectus and in the Trust Agreement. For the avoidance of doubt, except for Units as described in the Prospectus, no other securities (including, but not limited to, beneficial interests in other commodity pools) that may be offered by the Trust, any Fund or the Managing Owner, from time to time, shall be subject to this Agreement, and the Placement Agent shall have no right to commissions, on-going trailing fees or any other compensation with respect to such other securities.

Offering and Sale of Units. (a) Subject to the terms and conditions, and on the basis of the representations, warranties and covenants set forth in this Agreement, the Managing Owner, the Trust and each Fund hereby appoint the Placement Selling Agent as the initial a non-exclusive selling agent with respect to the Offering, and the Placement Selling Agent agrees to use its best efforts to procure Subscribers for Units in one or more Initial Funds during the Initial Offering Period and the Continuous Offering Period on the terms and conditions set forth in the Prospectus and in the Trust Agreement. For the avoidance of doubt, except for Units as described in the Prospectus, no other securities (including, but not limited to, beneficial interests in other commodity pools) that may be offered by the Trust, any Fund or the Managing Owner, from time to time, shall be subject to this Agreement, and the Placement Selling Agent shall have no right to commissions, on-going trailing fees or any other compensation with respect to such other securities.