Right to Advise Others; Uniformity of Acts and Practices. (a) During the term of this Agreement, the Trading Advisor and its affiliates shall be free to advise other investors as to the purchase and sale of commodity interests, to manage and trade other investors’ commodity interests accounts and to trade for and on behalf of their own proprietary commodity interests accounts. However, under no circumstances shall the Trading Advisor or any of its affiliates favor any commodity interests account directed by any of them (regardless of the date on which they began or shall begin to direct such account) over the Company’s account, giving due consideration to the trading program which the Manager has requested the Trading Advisor to trade on behalf of the Company. For purposes of this Agreement, the Trading Advisor and its affiliates shall not be deemed to be favoring another commodity interests account over the Company’s account if the Trading Advisor or its affiliates, in accordance with specific instructions of the owner of such account, trade such account at a degree of leverage or in accordance with trading policies which shall be different from that which shall normally be applied to substantially all of the Trading Advisor’s other accounts or if the Trading Advisor or its affiliates, in accordance with the Trading Advisor’s money management principles, shall not trade certain commodity interests contracts for an account based on the amount of equity in such account.
Right to Advise Others; Uniformity of Acts and Practices. During the term of this Agreement, the Trading Advisor and its affiliates shall be free to advise other investors (including, without limitation, other commodity pools) as to the purchase and sale of commodity interests, to manage and trade other investors' commodity interest accounts and to trade for and on behalf of their own proprietary commodity interest accounts. However, under no circumstances shall the Trading Advisor or any of its affiliates knowingly or deliberately favor any commodity interest account directed by any of them (regardless of the date on which they began or shall begin to direct such account) over the Trading Company's account in any way or manner. Differences in performance between different programs shall not in itself constitute favoring an account over another. The Trading Advisor understands and agrees that it and its affiliates shall have a fiduciary responsibility to the Trading Company under this Agreement. For purposes of this Agreement, the Trading Advisor and its affiliates shall not be deemed to be favoring another commodity interest account over the Trading Company's account if the Trading Advisor or its affiliates, in accordance with specific instructions of the owner of such account, trade such account pursuant to a different program than that used for the Trading Company or trade such account at a degree of leverage or in accordance with trading policies which shall be different than that which shall normally be applied to substantially all of the Trading Advisor's other accounts or if the Trading Advisor or its affiliates, in accordance with the Trading Advisor's money management principles, shall not trade certain commodity interest contracts for an account based on the amount of equity in such account. Subject to any confidentiality restrictions imposed by a third party, at the request of the Trading Company, the Trading Advisor and its affiliates shall promptly make available to the Trading Company copies of the normal daily, monthly, quarterly and annual, as the case may be, written reports reflecting the performance of all commodity pool accounts advised, managed, owned or controlled by the Trading Advisor or its affiliates required to be delivered to pool participants pursuant to the CEA and similar written information, including monthly account statements, reflecting the performance of all other commodity, interest accounts advised, managed, owned or controlled by the Trading Advisor or its affiliates, with r...
Right to Advise Others; Uniformity of Acts and Practices. During the term of this Agreement, the Trading Advisor Parties shall, subject to the capacity undertaking set forth herein and the exclusivity undertaking of the Letter Agreement, be free to advise other investors as to the purchase and sale of commodity interests, to manage and trade other investors' commodity interests accounts and to trade for and on behalf of their own proprietary commodity interests accounts. However, under no circumstances shall any Trading Advisor Party favor any commodity interests account directed by any of them (regardless of the date on which they began or shall begin to direct such account) over the Fund's account, giving due consideration to the trading program which the Manager has requested the Trading Advisor to trade on behalf of the Fund. At the request of the Fund, the Trading Advisor shall promptly deliver to the Fund a satisfactory written explanation, in the judgment of the Fund, of the differences, if any, in the performance between the Fund's account and such other commodity interest accounts traded utilizing the same program or portfolio (subject to the need to preserve the confidentiality of proprietary information concerning the Trading Advisor's trading systems, methods, models, strategies and formulas and the identity of the Trading Advisor's clients).
Right to Advise Others; Uniformity of Acts and Practices. During the term of this Agreement, the Trading Advisor, its affiliates and their respective owners, principals, directors, officers, employees, representatives or controlling persons (the “Trading Advisor Parties”) shall, subject to the applicable requirements of Section 17 of the 1940 Act and applicable fiduciary duties, be free to advise other investors as to the purchase and sale of commodity interests, to manage and trade other investors’ commodity interests accounts and to trade for and on behalf of their own proprietary commodity interests accounts. However, under no circumstances shall any Trading Advisor Party favor on an overall basis any commodity interests account directed by any of them (regardless of the date on which they began or shall begin to direct such account) over the Trading Entity, giving due consideration to the Trading Program.
Right to Advise Others; Uniformity of Acts and Practices. During the term of this Agreement, the Trading Advisor Parties shall, subject to the capacity undertaking set forth herein and the exclusivity undertaking of the Letter Agreement, be free to advise other investors as to the purchase and sale of commodity interests, to manage and trade other investors’ commodity interests accounts and to trade for and on behalf of their own proprietary commodity interests accounts. However, under no circumstances shall any Trading Advisor Party favor any commodity interests account directed by any of them (regardless of the date on which they began or shall begin to direct such account) over the Onshore Fund’s account, giving due consideration to the trading program which the Manager has requested the Trading Advisor to trade on behalf of the Onshore Fund. At the request of the Onshore Fund, the Trading Advisor shall promptly deliver to the Onshore Fund a satisfactory written explanation, in the judgment of the Onshore Fund, of the differences, if any, in the performance between the Onshore Fund’s account and such other commodity interest accounts traded utilizing the same program or portfolio (subject to the need to preserve the confidentiality of proprietary information concerning the Trading Advisor’s trading systems, methods, models, strategies and formulas and the identity of the Trading Advisor’s clients).
Right to Advise Others; Uniformity of Acts and Practices. During the term of this Agreement, the Trading Advisor Parties shall, subject to the capacity undertaking set forth herein and the exclusivity and the most favored nations undertakings of the Letter Agreement, be free to advise other investors as to the purchase and sale of commodity interests, to manage and trade other investors’ commodity interests accounts and to trade for and on behalf of their own proprietary commodity interests accounts. However, under no circumstances shall any Trading Advisor Party favor any commodity interests account directed by any of them (regardless of the date on which they began or shall begin to direct such account) over the Master Fund’s account, giving due consideration to the Trading Program. At the request of the Master Fund, the Trading Advisor shall promptly deliver to the Master Fund a satisfactory written explanation, in the reasonable judgment of the Master Fund, of the differences, if any, in the performance between the Master Fund’s account and the Reference Fund or any other commodity interest accounts traded pursuant to the same or a substantially similar trading strategy (subject to the need to preserve the confidentiality of proprietary information concerning the Trading Advisor’s trading systems, methods, models, strategies and formulas and the identity of the Trading Advisor’s clients). The Master Fund agrees and accepts that the investment performance of the Master Fund may differ from the investment performance of the Reference Fund due to, among other things (a) differences in the frequency of additions and withdrawals of assets to and from the Master Fund and the Reference Fund; (b) different counterparty fees and costs associated with each of the Master Fund and the Reference Fund; (c) any changes in the investment strategy of the Reference Fund not yet implemented for the Master Fund; (d) differences in fee structures; and (e) any other instructions and restrictions imposed by the Master Fund (or any of its approved counterparties) which have an impact on the performance of the Master Fund.
Right to Advise Others; Uniformity of Acts and Practices. 9 9. Additional Undertakings by the Trading Advisor..............9 10.
Right to Advise Others; Uniformity of Acts and Practices. During the term of this Agreement, the Trading Advisor shall, subject to the capacity, exclusivity and most favored nations undertakings of the Letter Agreement, be free to advise other investors as to the purchase and sale of commodity interests, to manage and trade other investors’ commodity interests accounts and to trade for and on behalf of its own proprietary commodity interests accounts. However, under no circumstances shall the Trading Advisor intentionally favor any commodity interests account directed by it (regardless of the date on which it began or shall begin to direct such account) over the Master Fund’s account, giving due consideration to the Trading Program. At the request of the Master Fund, the Trading Advisor shall promptly deliver to the Master Fund a satisfactory written explanation, in the reasonable judgment of the Master Fund, of the differences, if any, in the performance between the Master Fund’s account and such other commodity interest accounts traded utilizing the Trading Program or a substantially identical trading strategy (subject to the need to preserve the confidentiality of proprietary information concerning the Trading Advisor’s trading systems, methods, models, strategies and formulas and the identity of the Trading Advisor’s clients); provided that during the Performance Disclosure Period the Trading Advisor shall also deliver any such written explanation with respect to any other commodity interest accounts traded utilizing a Substantially Similar Trading Strategy.
Right to Advise Others; Uniformity of Acts and Practices. (a) The Company and the Manager acknowledge that the Trading Advisor and its affiliates may render advisory, consulting and management services to other clients, as well as trade proprietary accounts, during the term of this Agreement, using the same or different information and trading methods and strategies than the Trading Advisor obtains, produces or utilizes in the performance of services for the Company, and the Trading Advisor shall be free to compete for the same commodity interests as the Company or to take positions in commodity interests which are the same as or opposite to the Company’s positions on behalf of any other accounts advised, managed or traded by the Trading Advisor. Notwithstanding the foregoing, under no circumstances shall the Trading Advisor or any of its affiliates favor (i) any proprietary accounts or (ii) any commodity interests account directed by any of them (regardless of the date on which they began or shall begin to direct such account) in respect of which the Program is being employed, in either case, over the Clearing Broker Account, giving due consideration to the trading program which the Manager has requested the Trading Advisor to trade on behalf of the Company. The Trading Advisor may aggregate the commodity interests to be purchased or sold on behalf of the Company with those of one or more of the Trading Advisor’s other accounts (including accounts where the Trading Advisor or a person connected to the Trading Advisor is invested) and enter into arrangements with brokers to open “allocation” accounts wherein orders placed during a trading day are placed on behalf of the Company, with respect to the Clearing Broker Account, and the other client accounts and are allocated among such accounts using an enhanced CFTC, average price or other equitable allocation procedure.
Right to Advise Others; Uniformity of Acts and Practices. (a) During the term of this Agreement, the Trading Advisor Parties shall, subject to the capacity undertaking set forth herein and the exclusivity undertaking of the Letter Agreement, be free to advise other investors as to the purchase and sale of commodity interests, to manage and trade other investors’ commodity interests accounts and to trade for and on behalf of their own proprietary commodity interests accounts. However, under no circumstances shall any Trading Advisor Party favor any commodity interests account directed by any of them (regardless of the date on which they began or shall begin to direct such account) over the Fund’s account, giving due consideration to the Trading Program.
