Common use of Speculative Position Limits Clause in Contracts

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- regulatory body or governmental authority, the Advisor promptly will notify the Company if the Company’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approach, including the Company, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, can be implemented for the benefit of the Company, notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Trading Advisor that it may be required to aggregate the Trading Company’s Commodities positions with the positions of any other accounts it owns or controls its principals own or control for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Trading Advisor promptly will notify the Company Managing Owner if the Trading Company’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Trading Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Trading Advisor will modify its trading instructions to the Trading Company and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Trading Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the Trading Company, as nearly as possible in proportion to the assets available for trading number of contracts of the relevant market that would otherwise be held by the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Trading Advisor presently believes that its Trading Approach for the management of the Trading Company’s account, assuming that the allocation is not more than $50 million, account can be implemented for the benefit of the Company, Trading Company notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the CompanySeries J’s Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Series J if the CompanySeries J’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Series J and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanySeries J, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the CompanySeries J’s account, assuming that the allocation is not more than $50 million, account can be implemented for the benefit of the Company, Series J notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Trading Advisor that it may be required to aggregate the Trading Company’s 's Commodities positions with the positions of any other accounts it owns or controls its principals own or control for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Trading Advisor promptly will notify the Company Managing Owner if the Trading Company’s 's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Trading Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Trading Advisor will modify its trading instructions to the Trading Company and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Trading Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the Trading Company, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Trading Advisor presently believes that its Trading Approach for the management of the Trading Company’s account, assuming that the allocation is not more than $50 million, 's account can be implemented for the benefit of the Company, Trading Company notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the Commodity Futures Trading Commission ("CFTC"), any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “"notional” " equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, Trust's account can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- regulatory body or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “"notional” " equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s Trust's account, assuming that the allocation is not more than $50 million, can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the Commodity Futures Trading Commission (the "CFTC"), any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds one hundred percent (100%) of the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, Trust's account can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the Commodity Futures Trading Commission (the "CFTC"), any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds one hundred percent (100%) of the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, Trust's account can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other speculative accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “"notional” " equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, Trust's account can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the CompanyKMPFF’s Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company KMPFF if the CompanyKMPFF’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company KMPFF and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyKMPFF, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the CompanyKMPFF’s account, assuming that the allocation is not more than $50 million, account can be implemented for the benefit of the Company, KMPFF notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the CompanySeries J’s Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body or governmental authority, the Advisor promptly will notify the Company Series J if the CompanySeries J’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Series J and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanySeries J, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the CompanySeries J’s account, assuming that the allocation is not more than $50 165 million, can be implemented for the benefit of the Company, Series J notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it he may be required to aggregate the Company’s Partnership's Commodities positions with the positions of any other accounts it he owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company General Partner if the Company’s Partnership's positions under its management are included in an aggregate amount which equals or exceeds one hundred percent (100%) of the applicable speculative limit. The Advisor agrees that that, if its his trading recommendations pursuant to its his agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its his trading instructions to the Company Partnership and its his other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachhe manages, including the CompanyPartnership, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its his Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, Partnership's account can be implemented for the benefit of the Company, Partnership notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trading Vehicle's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Trading Vehicle if the Company’s Trading Vehicle's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trading Vehicle and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrading Vehicle, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “"notional” " equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, Trading Vehicle's account can be implemented for the benefit of the Company, Trading Vehicle notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the Commodity Futures Trading Commission ("CFTC"), any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s Trust's account, assuming that the allocation is not more than $50 million33,000,000, can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the CompanyClient’s Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Client if the CompanyClient’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Client and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyClient, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the CompanyClient’s account, assuming that the allocation is not more than $50 million, account can be implemented for the benefit of the Company, Client notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the Commodity Futures Trading Commission ("CFTC"), any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “"notional” " equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s Trust's account, assuming that the allocation is not more than $50 million34,000,000, can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “"notional” " equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s Trust's account, assuming that the allocation is not more than $50 million, can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body or governmental authority, the Advisor promptly will notify the Company if the Company’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approach, including the Company, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, can be implemented for the benefit of the Company, notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trading Vehicle's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body or governmental authority, the Advisor promptly will notify the Company Trading Vehicle if the Company’s Trading Vehicle's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trading Vehicle and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrading Vehicle, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “"notional” " equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s Trading Vehicle's account, assuming that the allocation is not more than $50 135 million, can be implemented for the benefit of the Company, Trading Vehicle notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trading Vehicle's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body or governmental authority, the Advisor promptly will notify the Company Trading Vehicle if the Company’s Trading Vehicle's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trading Vehicle and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrading Vehicle, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “"notional” " equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s Trading Vehicle's account, assuming that the allocation is not more than $50 165 million, can be implemented for the benefit of the Company, Trading Vehicle notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the Commodity Futures Trading Commission ("CFTC"), any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s Trust's account, assuming that the allocation is not more than $50 million34,000,000, can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor Xxxxxx that it may be required to aggregate the Company’s Partnership's Commodities positions it controls with the positions of any other accounts it or any of its shareholders, partners, directors, officers, employees, or agents owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Advisor Xxxxxx will promptly will notify the Company if General Partners when the Company’s Partnership's positions under its management are first included in an aggregate amount which equals or exceeds the applicable speculative limitlimit and will promptly respond thereafter to requests from the General Partners with respect to the percentage of the applicable speculative limit reflected by the aggregate positions owned or controlled by Xxxxxx or any of its shareholders, partners, directors, officers, employees, or agents. The Advisor Xxxxxx agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor Xxxxxx will modify its trading instructions to the Company Partnership and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor Xxxxxx will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyPartnership, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor Xxxxxx presently believes and represents that its Trading Approach program for the management of the Company’s account, assuming that the allocation is not more than $50 million, Partnership's account can be implemented for the benefit of the Company, Partnership notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the Company’s Trust's Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Advisor promptly will notify the Company Managing Owner if the Company’s Trust's positions under its management are included in an aggregate amount which equals or exceeds one hundred percent (100%) of the applicable speculative limit. The Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trust and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrust, as nearly as possible in the same proportion to as the Trading Level of the Allocated Assets and the assets available for trading of other accounts traded by the respective accounts (Advisor bears to all assets, including “notional” equity) notional amounts, traded by the Advisor to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the Company’s account, assuming that the allocation is not more than $50 million, Trust's account can be implemented for the benefit of the Company, Trust notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Advisor that it may be required to aggregate the CompanyTrading Vehicle’s Commodities positions with the positions of any other accounts it owns or controls for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body or governmental authority, the Advisor promptly will notify the Company Trading Vehicle if the CompanyTrading Vehicle’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Advisor agrees that if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Advisor will modify its trading instructions to the Company Trading Vehicle and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the CompanyTrading Vehicle, as nearly as possible in proportion to the assets available for trading of the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Advisor presently believes that its Trading Approach for the management of the CompanyTrading Vehicle’s account, assuming that the allocation is not more than $50 135 million, can be implemented for the benefit of the Company, Trading Vehicle notwithstanding the possibility that, from time to time, speculative position limits may become applicable.

Speculative Position Limits. If, at any time during the term of this Agreement, it appears to the Trading Advisor that it may be required to aggregate the Trading Company’s Commodities positions with the positions of any other accounts it owns or controls its principals own or control for purposes of applying the speculative position limits of the CFTC, any exchange, self- self-regulatory body body, or governmental authority, the Trading Advisor promptly will notify the Trading Company if of the Trading Company’s positions under its management are included in an aggregate amount which equals or exceeds the applicable speculative limit. The Trading Advisor agrees that that, if its trading recommendations pursuant to its agreed upon Trading Approach are altered because of the potential application of speculative position limits, the Trading Advisor will modify its trading instructions to the Trading Company and its other accounts which trade pursuant to the Trading Approach in a good faith effort to achieve an equitable treatment of all such accounts; to wit, the Trading Advisor will liquidate Commodities positions and/or limit the taking of new positions in all accounts it manages pursuant to the Trading Approachmanages, including the Trading Company, as nearly as possible in proportion to the assets available for trading number of contracts of the relevant market that would otherwise be held by the respective accounts (including “notional” equity) to the extent necessary to comply with applicable speculative position limits. The Trading Advisor presently believes that its Trading Approach for the management of the Trading Company’s account, assuming that the allocation is not more than $50 million, account can be implemented for the benefit of the Company, Trading Company notwithstanding the possibility that, from time to time, speculative position limits may become applicable.