Duties of the Trading Advisor Clause Samples

Duties of the Trading Advisor. (a) The Partnership hereby appoints the Trading Advisor, and the Trading Advisor hereby accepts appointment, as a trading advisor of the Partnership in connection with the trading activities of the Partnership. (b) Upon the Trading Advisor's commencing of trading operations for the Partnership and for the period and on the terms and conditions set forth in this Agreement, the Trading Advisor shall have sole authority and responsibility, as the Partnership's agent and

Duties of the Trading Advisor a) Speculative Trading. Commencing on December 3, 2001, the ------------------- Trading Advisor shall act as a trading advisor for the Trading Company, acting independently from any other advisors or managers selected to direct accounts on behalf of the Trading Company. The Trading Advisor and the Trading Company agree that in managing an account for the Trading Company, the Trading Advisor shall apply its Balanced Portfolio Program as contemplated by the Trading Advisor's Commodity Trading Advisor Disclosure Document dated October 31, 2001 (the "Initial CTA Disclosure Document"), as such program may be developed and modified over time (except that the Trading Advisor may not abandon the basic asset allocation principles on which the Balanced Portfolio Program is based). The Trading Advisor may use a different program in managing the Trading Company's account only with the consent of the Trading Company. Except as provided otherwise in this Section 1, the Trading Advisor shall have sole and exclusive authority and responsibility for directing the investment and reinvestment of the Trading Company's assets pursuant to and in accordance with the Trading Advisor's best judgment and the Balanced Portfolio Program as described in the Initial CTA Disclosure Document, and as refined and modified from time to time in the future in accordance herewith, for the period and on the terms and conditions set forth herein and in accordance with the Trading Company's trading strategies and policies (the "Trading Strategies") as described in the Prospectus and the Limited Partnership Agreement of the Trading Company (the "Limited Partnership Agreement") or as may be modified by the Trading Company with the prior consent of the Trading Advisor. Notwithstanding the foregoing, the Trading Company or the General Partner may override the trading instructions of the Trading Advisor to the extent necessary: (i) to comply with the Trading Strategies; (ii) to fund any distributions or redemptions of Units to be made by the Partnership; (iii) to pay the Trading Company's and the Partnership's expenses; (iv) to deleverage the Trading Company in accordance with the terms of the Prospectus; and/or (v) to comply with speculative position limits; provided that the Trading Company and the General Partner shall permit the Trading Advisor three days in which to liquidate positions for the purposes set forth in clauses (ii), (iii) and (v) prior to exercising their override authority. The Trad...

Duties of the Trading Advisor. (a) The Partnership hereby appoints the Trading Advisor, and the Trading Advisor hereby accepts appointment, as a trading advisor of the Partnership in connection with the trading activities of the Partnership. (b) Upon the Trading Advisor's commencing of trading operations for the Partnership and for the period and on the terms and conditions set forth in this Agreement, the Trading Advisor shall have sole authority and responsibility, as the Partnership's agent and 2 attorney-in-fact, for trading the Allocated Assets in Contracts and in accordance with the Trading Advisor's Currency Program ("Trading Approach"; which term, for purposes of this Agreement, shall include trading approaches, systems, instructions, methods, models, strategies, methodologies and formulas) as described in the disclosure notice dated March 1995 relating to the appointment of the Trading Advisor as a commodity trading advisor of the Partnership (the "Disclosure Notice"), subject to the trading policies of the Partnership furnished to the Trading Advisor in writing ("Trading Policies"). The parties hereto acknowledge that the Trading Advisor will trade Contracts for the Partnership independently of any other trading advisor retained by the Partnership. For purposes of this Agreement, the term "Contracts" shall not include securities and options thereon.

Duties of the Trading Advisor. (a) The Trading Advisor agrees to act as the trading advisor for the Partnership and, as such, shall have sole authority and responsibility for advising the investment and reinvestment of the assets of the Partnership in futures interests on the terms and conditions and in accordance with the restrictions and trading policies set forth in this Agreement, the Partnership's Limited Partnership Agreement as from time to time in effect (the "Limited Partnership Agreement"), and the Prospectus; provided, however, that the General Partner may override the instructions of the Trading Advisor to the extent necessary (i) to comply with the trading policies of the Partnership described in the Limited Partnership Agreement, (ii) to fund any distributions or redemptions, or (iii) to pay the Partnership's expenses. The General Partner agrees not to override any such instructions for the reasons specified in clauses (ii) and (iii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the General Partner to make the necessary amount of funds available to the Partnership within five days of such request. (b) The Trading Advisor shall exercise its best judgment in determining the trades in futures interests for the account of the Partnership in accordance with the restrictions and trading policies of the Partnership and the Trading Advisor's trading strategy as in effect on the date hereof, with such changes and additions to such trading strategy as the Trading Advisor, from time to time, incorporates into its trading approach for accounts the size of the Partnership. (c) All purchases and sales of futures interests pursuant to this Agreement shall be for the account, and at the risk, of the Partnership and not for the account, or at the risk, of the Trading Advisor or any of its stockholders, directors, officers, or employees, or any other person, if any, who controls the Trading Advisor within the meaning of the Securities Act. All brokerage fees and commissions arising from trading by the Trading Advisor shall be for the account of the Partnership. (d) Notwithstanding any provision of this Agreement to the contrary, the Trading Advisor shall assume financial responsibility for any errors committed or caused by it in transmitting orders for the purchase or sale of futures interests for the Partnership's account. The Trading Advisor's errors shall include, but not be limited to, inputting improper trading signals or communicating incorrect...

Duties of the Trading Advisor. 5.1 The Trading Advisor will trade the Account at the Trading Level in accordance with the Trading Strategy and subject to the Trading Restrictions. The Trading Advisor shall have complete discretion over the Account and as the agent of the Master Fund to trade in Instruments and otherwise act as the Trading Advisor judges appropriate. In fulfilling its duties hereunder, the Trading Advisor shall comply with (A) all governmental, regulatory and self-regulatory organization laws, rules and regulations applicable to the Trading Advisor, including, if applicable, the Commodity Exchange Act, as amended (the “CE Act”), and the rules and regulations promulgated by the CFTC thereunder; and (B) applicable rules and regulations of any relevant market or exchange in which it trades the Account. 5.2 The Master Fund and the Manager acknowledge and agree that the Trading Advisor shall not be responsible for the (A) management of any cash, (B) financial leverage arrangements and/or any structured transactions linked to the Account, or (C) currency hedging by or on behalf of the Master Fund. 5.3 Save as set out in the Trading Restrictions, the Master Fund and the Manager each confirm that the Master Fund’s and the Feeder Fund’s investment objectives do not include: (A) any limits or restrictions on the length of time for which it wishes to hold any particular Investment; (B) any preferences regarding risk taking; (C) any particular risk profile; or (D) any particular purpose for its investment activities. 5.4 The Trading Restrictions shall not be deemed to have been breached as a result of any appreciation or depreciation in value caused by a price move or, where any Instrument is held in a currency other than US dollars, an adverse change in exchange rates. If any such Trading Restrictions are exceeded as a result of such events as described in the immediately preceding sentence or are otherwise breached (the “Trading Restriction Breach”), the Trading Advisor shall: (A) so notify the Master Fund and the Manager as soon as practicable as to the Trading Restriction Breach; (B) consult with the Master Fund and the Manager as to the steps to be taken to remedy the Trading Restriction Breach; and (C) take such action as deemed necessary to remedy the Trading Restriction Breach, including, but not limited to, acquiring or disposing of, as the case may be, Instruments in the Account which resulted in the Trading Restriction Breach, or would result in any Trading Restrictions b...

Duties of the Trading Advisor. (a) The Trading Advisor shall act as a commodity pool operator and trading advisor of the Series and to furnish, or arrange for the furnishing of, the commodity pool operator, commodity trading, and other services described below, for the period and on the terms and conditions set forth in this Advisory Agreement (the “Agreement”). Additionally, the Trading Advisor will provide certain administrative, transfer agency and investor services to the Series. The Trading Advisor hereby accepts such employment and agrees during such period, at its own expense, to render, or arrange for the rendering of, such services and to assume the obligations herein set forth for the compensation provided for herein. The Trading Advisor, its affiliates, or any entity performing services for the Series on behalf of the Trading Advisor for all purposes herein shall be deemed to be independent contractors and, unless otherwise expressly provided herein or authorized, shall have no authority to act for or represent the Series in any way or otherwise be deemed agents of the Series.

Duties of the Trading Advisor. (a) The Trading Advisor hereby agrees to act as Trading Advisor for the Partnership and, as such, shall have sole authority and responsibility for directing the investment and reinvestment of the Net Assets of the Partnership, which initially shall be traded pursuant to its trading program, the Global Portfolio, as described in the Trading Advisor's Disclosure Document dated March 27, 2006 (as amended or supplemented, the "Disclosure Document"), and may be subsequently traded pursuant to such other of the Trading Advisor's programs described in the Disclosure Document, as the General Partner may agree (with such changes and additions to such trading programs as the Trading Advisor, from time to time, incorporates into its trading program(s) for accounts the size of the Partnership), (collectively, the "Trading Program") on the terms and conditions and in accordance with the prohibitions and trading policies set forth in Exhibit A hereto, the Limited Partnership Agreement and as otherwise provided in writing to the Trading Advisor; provided, however, that the General Partner may override the instructions of the Trading Advisor to the extent necessary (i) to comply with the trading policies of the Partnership, as described in this Agreement, the Limited Partnership Agreement and as otherwise provided in writing to the Trading Advisor, and with applicable speculative position limits, (ii) to pay the Partnership's expenses, (iii) to the extent the General Partner believes doing so is necessary for the protection of the Partnership, (iv) to terminate the futures interests trading of the Partnership, or (v) to comply with any applicable law or regulation. The General Partner agrees not to override any such instructions for the reasons specified in clause (ii) of the preceding sentence unless the Trading Advisor fails to comply with a request of the General Partner to make the necessary amount of funds available to the Partnership within five calendar days of such request. Except as otherwise provided herein, the Trading Advisor shall not be liable for the consequences of any decision by the General Partner to override instructions of the Trading Advisor. In performing services for the Partnership, the Trading Advisor may not materially alter or change the Trading Program without the prior written consent of the General Partner (and shall not effect such alteration or change on behalf of the Partnership without the General Partner's consent), and it being underst...

Duties of the Trading Advisor. (a) (i) The Sponsor shall appoint the Trading Advisor to have discretionary authority and responsibility for independently directing the Futures Interest trading pursuant to the trading program and strategy agreed upon by the Sponsor and the Trading Advisor and disclosed in the Memorandum (the “Program”), as the same may be modified from time to time by the Trading Advisor as a result of its ongoing commitment to research and development. Any such change will not be deemed to constitute a material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) and may be made without prior notification to the Sponsor. However, any material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) (such change to be determined as material in the Trading Advisor’s reasonable discretion) will only be made upon giving the Sponsor at least twenty Business Days’ prior written notice (a “Business Day” means any day on which banks in New York City are not required or authorized to close). The Trading Advisor may, on behalf of the Trading Fund and subject to Section 1(a)(iii) and Section 7, execute transactions in Futures Interests on either a principal or an agency basis, with or through such clearing brokers as approved by the Sponsor and executing brokers selected by the Trading Advisor, provided that the Trading Fund shall be a party to all “give-up” agreements, from time to time. This limited authority granted to the Trading Advisor is a continuing power and shall continue in effect with respect to the Trading Advisor until terminated hereunder.

Duties of the Trading Advisor. (i) The Sponsor shall appoint the Trading Advisor to have discretionary authority and responsibility for independently directing the Futures Interest trading pursuant to the trading program and strategy agreed upon by the Sponsor and the Trading Advisor and disclosed in the Memorandum (the "Program"), as the same may be modified from time to time by the Trading Advisor as a result of its ongoing commitment to research and development. Any such change will not be deemed to constitute a material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) and may be made without prior notification to the Sponsor. However, any material change to the Investment Objective or Investment Policy (each term as defined in the Disclosure Document) (such change to be determined as material in the Trading Advisor's reasonable discretion) will only be made upon giving the Sponsor at least twenty Business Days' prior written notice (a "Business Day" means any day on which banks in New York City are not required or authorized to close). The Trading Advisor may, on behalf of the Trading Fund and subject to Section 1(a)(iii) and Section 7, execute transactions in Futures Interests on either a principal or an agency basis, with or through affiliates of the Sponsor or third parties. This limited authority granted to the Trading Advisor is a continuing power and shall continue in effect with respect to the Trading Advisor until terminated hereunder. (ii) In the event the Trading Advisor proposes to make any material changes to the Program, the Trading Advisor will so inform the Sponsor and will not make any such change -- with respect to the Trading Fund, not the Trading Advisor's other accounts -- to which the Sponsor objects (in which case the Trading Advisor will be free to terminate this Agreement pursuant to Section 10). "Material changes" for such purposes shall not include simply adding or removing a Futures Interest to or from the group of Futures Interests traded on behalf of the Trading Fund (subject to Section 1(c)).