PROCESSING OF SUBSCRIPTIONS. (a) The Sponsor may admit new Investors to this FuturesAccess Fund at such times and upon such notice (if any) as the Sponsor may determine. Investors' Merrill Lynch Accounts will be debited on or about the xxxxxxxe xxxx of such Units, and the amount so debited, less any applicable sales commission, will be invested directly in the FuturesAccess Fund. No interest will be payable in respect of any such subscriptions. (b) Pursuant to Securities and Exchange Commission Rule 15c2-4, all subscriptions while held in escrow during the initial offering period pending release to this FuturesAccess Fund shall be held by a bank independent of the Sponsor, its affiliates, and their respective officers, employees, representatives and agents (each, a "Sponsor Party" and, collectively, the "Sponsor Parties").
Appears in 2 contracts
Samples: Operating Agreement (ML Transtrend DTP Enhanced FuturesAccess LLC), Limited Liability Company Operating Agreement (ML APM Global Commodity FuturesAccess LLC)
PROCESSING OF SUBSCRIPTIONS. (a) The Sponsor may admit new Investors to this FuturesAccess Fund at such times and upon such notice (if any) as the Sponsor may determine. Investors' Merrill Lynch ’ Mxxxxxx Lxxxx Accounts will be debited on or about the xxxxxxxe xxxx issuance date of such Units, and the amount so debited, less any applicable sales commission, will be invested directly in the FuturesAccess Fund. No interest will be payable in respect of any such subscriptions.
(b) Pursuant to Securities and Exchange Commission Rule 15c2-4, all subscriptions while held in escrow during the initial offering period pending release to this FuturesAccess Fund shall be held by a bank independent of the Sponsor, its affiliates, and their respective officers, employees, representatives and agents (each, a "“Sponsor Party" ” and, collectively, the "“Sponsor Parties"”).
Appears in 2 contracts
Samples: Operating Agreement (ML Chesapeake FuturesAccess LLC), Operating Agreement (ML Transtrend DTP Enhanced FuturesAccess LLC)
PROCESSING OF SUBSCRIPTIONS. (a) The Sponsor may admit new Investors to this FuturesAccess Fund at such times and upon such notice (if any) as the Sponsor may determine. Investors' Merrill Lynch ’ Xxxxxxx Xxxxx Accounts will be debited on or about the xxxxxxxe xxxx issuance date of such Units, and the amount so debited, less any applicable sales commission, will be invested directly in the FuturesAccess Fund. No interest will be payable in respect of any such subscriptions.
(b) Pursuant to Securities and Exchange Commission Rule 15c2-4, all subscriptions while held in escrow during the initial offering period pending release to this FuturesAccess Fund shall be held by a bank independent of the Sponsor, its affiliates, and their respective officers, employees, representatives and agents (each, a "“Sponsor Party" ” and, collectively, the "“Sponsor Parties"”).
Appears in 2 contracts
Samples: Operating Agreement (ML BlueTrend FuturesAccess LLC), Operating Agreement (ML Man Bayswater FuturesAccess LLC)
PROCESSING OF SUBSCRIPTIONS. (a) The Sponsor may admit new Investors to this FuturesAccess Fund at such times and upon such notice (if any) as the Sponsor may determine. Investors' Merrill Lynch Accounts will be debited on or about the xxxxxxxe xxxx of issxxxxx xaxx xx such Units, and the amount so debited, less any applicable sales commission, will be invested directly in the FuturesAccess Fund. No interest will be payable in respect of any such subscriptions.
(b) Pursuant to Securities and Exchange Commission Rule 15c2-4, all subscriptions while held in escrow during the initial offering period pending release to this FuturesAccess Fund shall be held by a bank independent of the Sponsor, its affiliates, and their respective officers, employees, representatives and agents (each, a "Sponsor Party" and, collectively, the "Sponsor Parties").
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (ML Chesapeake FuturesAccess LLC)