FORM OF AMENDMENT NO. 3 TO CUSTOMER AGREEMENT
Exhibit
10.05(c)
FORM
OF
AMENDMENT
NO. 3
TO
WHEREAS,
XXXXXX XXXXXXX CHARTER XXXXXX X.X., a Delaware limited partnership (the
“Customer”), and XXXXXX XXXXXXX & CO. INCORPORATED, formerly Xxxxxx Xxxxxxx
XX Inc., a Delaware corporation (the “Commodity Broker”), have agreed to amend
the Customer Agreement, dated as of the 13th day of November 2000, as amended
and supplemented from time to time, (the “Customer Agreement”), by and between
the Customer and the Commodity Broker, to reflect the merger of Xxxxxx Xxxxxxx
XX Inc. into Xxxxxx Xxxxxxx & Co. Incorporated, and to amend the rate of
interest income credited to the Customer’s account by the Commodity Broker.
Terms used and not otherwise defined herein have the meanings ascribed to such
terms in the Customer Agreement.
WHEREAS,
all provisions contained in the Customer Agreement remain in full force and
effect and are modified only to the extent necessary to provide for the
amendments set forth below.
NOW,
THEREFORE, the parties hereto hereby amend the Customer Agreement as
follows:
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1.
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Xxxxxx
Xxxxxxx XX Inc. has been merged into Xxxxxx Xxxxxxx & Co. Incorporated
and any references to “XXXX XXXXXX XXXXXXXX, INC.”, the predecessor to
Xxxxxx Xxxxxxx XX Inc., shall mean “XXXXXX XXXXXXX & CO.
INCORPORATED”.
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2.
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The
third sentence of Section 7 Investment of Customer Funds is deleted
in its
entirety and replaced with the
following:
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“The
Commodity Broker will credit the Customer with interest income on the Customer’s
funds on deposit with the Commodity Broker and its affiliates at each month-end.
Funds held by the Commodity Broker and its affiliates to meet the margin
requirements on the Customer’s futures, forward, and option contracts will be
credited with interest income at a rate approximately equivalent to the rate
the
Commodity Broker and its affiliates pay other customers on margin deposits.
Funds not required to meet such margin requirements will be credited with
interest income at a rate equal to the monthly average of the 4-Week U.S.
Treasury xxxx discount rate during such month.”
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3.
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This
Amendment No. 3 shall be governed and construed under the laws of
the
State of New York.
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IN
WITNESS WHEREOF, this Amendment No. 3 to the Customer Agreement has been
executed for and on behalf of the undersigned as of the [] day of []
2007.
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XXXXXX
XXXXXXX CHARTER XXXXXX X.X.
By: Demeter
Management Corporation,
General
Partner
By: ____________________
Name:
Title:
XXXXXX
XXXXXXX & CO. INCORPORATED
By: ______________________
Name:
Title:
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