Common use of Term; Termination; Amendment Clause in Contracts

Term; Termination; Amendment. This Agreement shall become effective with respect to the Fund as of the day and time the initial public offering of the Fund’s shares pursuant to the Registration Statement closes (the “Effective Day and Time”) and shall remain in effect until otherwise terminated pursuant to this Section 13. This Agreement may be terminated at any time, without penalty, by either Manager or Commodity Subadvisor upon 120 days written notice. This Agreement may be terminated, without penalty, by Commodity Subadvisor upon 90 days written notice to Manager in the event either (i) there are amendments to the Fund’s Amended and Restated Trust Agreement or to the Fund’s investment objectives, policies and restrictions that are not reasonably acceptable to Commodity Subadvisor, or (ii) Manager objects to the use of an executing broker or floor broker that the Commodity Subadvisor represents to Manager is critical to implement the Fund’s investment program and whose brokerage commission rates are competitive with other recognized and experienced executing brokers or floor brokers. Termination of this Agreement shall not affect the right of Commodity Subadvisor to receive payments on any unpaid balance of the compensation described in Section 7 earned prior to the effective date of such termination.

Appears in 3 contracts

Samples: Commodity Sub Advisory Agreement (Nuveen Long/Short Commodity Total Return Fund), Commodity Sub Advisory Agreement (Nuveen Long/Short Commodity Total Return Fund), Commodity Sub Advisory Agreement (Nuveen Diversified Commodity Fund)

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Term; Termination; Amendment. This Agreement shall become effective with respect to the Fund as of the day and time the initial public offering of the Fund’s shares pursuant to the Registration Statement closes (the “Effective Day and Time”) and shall remain in effect until otherwise terminated pursuant to this Section 13Section. This Agreement may be terminated at any time, without penalty, by either Manager Sponsor or Commodity Subadvisor Sub-Adviser upon 120 days written notice. This Agreement may be terminated, without penalty, by Commodity Subadvisor Sub-Adviser upon 90 days written notice to Manager Sponsor in the event either (i) there are amendments to the Fund’s Amended and Restated Trust Agreement or to the Fund’s investment objectives, policies and restrictions that are not reasonably acceptable to Commodity SubadvisorSub-Adviser, or (ii) Manager Sponsor objects to the use of an executing broker or floor broker that the Commodity Subadvisor Sub-Adviser represents to Manager Sponsor is critical to implement the Fund’s investment program and whose brokerage commission rates are competitive with other recognized and experienced executing brokers or floor brokers. Termination of this Agreement shall not affect the right of Commodity Subadvisor Sub-Adviser to receive payments on any unpaid balance of the compensation described in Section 7 earned prior to the effective date of such termination.

Appears in 2 contracts

Samples: Commodity Sub Advisory Agreement (Vs Trust), Commodity Sub Advisory Agreement (Vs Trust)

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