Common use of Commodity Pool Operator Clause in Contracts

Commodity Pool Operator. Fund and Fund Manager each agree to promptly notify Insurer when any underlying fund becomes a commodity pool operator (“CPO”) as defined under the Commodities Exchange Act (“CEA”), and Fund Manager is required to register with the Commodity Futures Trading Commission (“CFTC”) as a CPO with respect to any underlying fund. Until such notification is provided to Insurer, Fund represents and warrants that it is not a CPO, and Fund Manager represents and warrants it is not required to register as a CPO with respect to any underlying fund. Fund and Fund Manager each represent and warrant that it will at all times comply with the CEA and CFTC rules and regulations to the extent required. 4. The parties agree to combine existing Schedules A, B and C into a single schedule, hereby referenced as “Schedule A”. Existing Schedules A, B and C of the Agreement are hereby deleted in their entirety and replaced with the attached Schedule A, which may be revised from time to time, with notice to all parties. All references to Schedule B or Schedule C in the Agreement are hereafter, a reference to Schedule A. Schedule D to the Agreement is renamed Schedule B. All references to Schedule D in the Agreement are hereafter, a reference to Schedule B.