Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the Advisor shall be free to manage and trade accounts for other investors (including other public and private commodity pools) during the term of this Agreement and to use the same or other information and Trading Approach utilized in the performance of services for the Partnership for such other accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership pursuant to this Agreement is not materially impaired thereby. In addition, the Advisor and its employees, as applicable, also will be permitted to trade in Commodities for their own accounts, so long as the Advisor's ability to carry out its obligations and duties to the Partnership is not materially impaired thereby. (b) Furthermore, so long as the Advisor is performing services for the Partnership, it agrees that it will not accept additional capital for management in the Commodities markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its agreed upon Trading Approach being used for the Partnership in a manner which might reasonably be expected to have a material adverse effect on the Partnership (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments to trading patterns in order to comply with speculative position limits or daily trading limits). (c) The Advisor agrees, in its management of accounts other than the account of the Partnership, that it will not knowingly or deliberately favor any other account managed or controlled by it or any of its employees or affiliates (in whole or in part) over the Partnership. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it hereunder, or (ii) an adjustment by the Advisor in the implementation of any agreed upon Trading Approach in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accounts. The Advisor, upon reasonable request and receipt of adequate assurances of confidentiality, shall provide the General Partner with an explanation of the differences, if any, in performance between the Partnership and any other similar account pursuant to the same Trading Approach for which the Advisor or any of its affiliates acts as a commodity trading advisor (in whole or in part). (d) Upon reasonable notice from the General Partner, the Advisor shall permit the General Partner to review at the Advisor's offices during normal business hours such trading records as it reasonably may request for the purpose of confirming that the Partnership has been treated equitably with respect to advice rendered during the term of this Agreement by the Advisor for other accounts managed by the Advisor, which the parties acknowledge to mean that the General Partner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its clients, all trading records of the Advisor as it reasonably may request related to such other accounts during normal business hours. The Advisor may, in its discretion, withhold from any such report or inspection the identity of the client for whom any such account is maintained and in any event, the Partnership and the General Partner shall keep all such information obtained by it from the Advisor confidential.
Appears in 2 contracts
Sources: Advisory Agreement (Prudential Bache Capital Return Futures Fund 2 L P), Advisory Agreement (Prudential Bache Capital Return Futures Fund 2 L P)
Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the The Advisor shall be free to manage and trade accounts for other investors (including other public and private commodity pools) during the term of this Agreement and to use the same or other information and the Trading Approach Programs utilized in the performance of services for the Partnership Trust for such other accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership Trust pursuant to this Agreement is not materially impaired thereby. Furthermore, neither the Advisor nor any principal, shareholder, director, officer, employee or agent of the Advisor shall cause or permit the Advisor to engage in any business enterprise not presently engaged in which is unrelated to the giving of commodity advice or the operation of commodity pools if such other business might reasonably be expected to have a material adverse effect on the Advisor's ability to perform its obligations and duties to the Trust under this Agreement, unless it obtains the prior written consent from the Managing Owner, which consent shall not be unreasonably withheld. In addition, the Advisor Advisor, and its employeesprincipals, shareholders, partners, directors, officers, employees and agents, as applicable, also will be permitted to trade in Commodities Commodity Interests for their own accounts, accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership Trust is not materially impaired thereby.
(b) Furthermore, so . So long as the Advisor is performing services for the PartnershipTrust, it agrees that it will not accept additional capital for management in the Commodities Commodity Interests markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its agreed upon the Trading Approach Programs being used by the Advisor for the Partnership Trust in a manner which might reasonably be expected to have a material adverse effect on the Partnership Trust (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments to trading patterns in order to comply with speculative position limits or daily trading limits).
(c) . The Advisor agreesagrees that, in its the Advisor's management of accounts other than the account of the PartnershipTrust, that it the Advisor will not knowingly or deliberately favor any other account managed or controlled by it or any of its employees principals or affiliates (in whole or in part) over the PartnershipTrust on an overall basis. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it the Advisor hereunder, or (ii) an adjustment by the Advisor in the implementation of any agreed upon Trading Approach trading program in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accountsaccounts or adjustments deemed, in good faith, by the Advisor to be appropriate to the management of a larger account. The Advisor, upon reasonable request and receipt of adequate assurances of confidentialityrequest, shall provide the General Partner Managing Owner with an explanation of the material differences, if any, in performance between the Partnership Trust and any other similar comparable account pursuant to the same Trading Approach for which the Advisor or any of its principals or affiliates acts as a commodity trading advisor (in whole or in part).
(d) . Upon the reasonable notice from request of the General PartnerManaging Owner, the Advisor shall permit provide the General Partner to review at the Advisor's offices during normal business hours Managing Owner with such trading records information as it reasonably may request for the purpose of confirming that the Partnership Trust has been treated equitably with respect to advice rendered during the term of this Agreement by the Advisor for other accounts (including accounts of the Advisor or its principals, shareholders, directors, officers, employees, and agents) managed by the Advisor, which the parties acknowledge to mean that the General Partner Managing Owner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its clients, inspect all trading records of the Advisor as it reasonably may request related to such other accounts during normal business hourshours upon its prior written request. The Advisor may, in its discretion, withhold from any such report or inspection the identity name of the client for whom any such account is maintained and and, in any event, the Partnership Trust and the General Partner Managing Owner shall keep all such information obtained by it from the Advisor confidential.
Appears in 2 contracts
Sources: Trading Advisory Agreement (JWH Global Trust), Trading Advisory Agreement (JWH Global Portfolio Trust)
Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the Advisor shall be free to manage and trade accounts for other investors (including other public and private commodity pools) during the term of this Agreement and to use the same or other information and Trading Approach utilized in the performance of services for the Partnership for such other accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership pursuant to this Agreement is not materially impaired thereby. In addition, the Advisor and its employees, as applicable, also will be permitted to trade in Commodities for their own accounts, so long as the Advisor's ability to carry out its obligations and duties to the Partnership is not materially impaired thereby.
(b) Furthermore, so long as the Advisor is performing services for the Partnership, it agrees that it will not accept additional capital for management in the Commodities markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its agreed upon Trading Approach being used for the Partnership in a manner which might reasonably be expected to have a material adverse effect on the Partnership (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments ad- justments to trading patterns in order to comply with speculative position limits or daily trading limits).
(c) The Advisor agrees, in its management of accounts other than the account of the Partnership, that it will not knowingly or deliberately favor any other account managed or controlled by it him or any of its employees or affiliates (in whole or in part) over the Partnership. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it hereunder, or (ii) an adjustment by the Advisor in the implementation of any agreed upon Trading Approach in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accounts. The Advisor, upon reasonable request and receipt of adequate assurances of confidentiality, shall provide the General Partner with an explanation of the differences, if any, in performance between the Partnership and any other similar account pursuant to the same Trading Approach for which the Advisor or any of its affiliates acts as a commodity trading advisor (in whole or in part).
(d) Upon reasonable notice from the General Partner, the Advisor shall permit the General Partner to review at the Advisor's offices during normal business hours such trading records as it reasonably may request for the purpose of confirming that the Partnership has been treated equitably with respect to advice rendered during the term of this Agreement by the Advisor for other accounts managed by the AdvisorAd- visor, which the parties acknowledge to mean that the General Partner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its clients, all trading records of the Advisor as it reasonably may request related to such other accounts during normal business hours. The Advisor may, in its discretion, withhold from any such report or inspection the identity of the client for whom any such account is maintained and in any event, the Partnership and the General Partner shall keep all such information obtained by it from the Advisor confidential.
Appears in 1 contract
Sources: Advisory Agreement (Prudential Securities Aggressive Growth Fund Lp)
Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the Advisor shall be free to manage and trade accounts for other investors (including other public and private commodity pools) during the term of this Agreement and to use the same or other information and Trading Approach utilized in the performance of services for the Partnership for such other accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership pursuant to this Agreement is not materially impaired thereby. In addition, the Advisor and its employees, as applicable, also will be permitted to trade in Commodities for their own accounts, so long as the Advisor's ability to carry out its obligations and duties to the Partnership is not materially impaired thereby.
(b) Furthermore, so long as the Advisor is performing services for the Partnership, it agrees that it will not accept additional capital for management in the Commodities markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its agreed upon Trading Approach being used for the Partnership in a manner which might reasonably be expected to have a material adverse effect on the Partnership (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments to trading patterns in order to comply with speculative position limits or daily trading limits).adverse
(c) The Advisor agrees, in its management of accounts other than the account of the Partnership, that it will not knowingly or deliberately favor any other account managed or controlled by it him or any of its employees or affiliates (in whole or in part) over the Partnership. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it hereunder, or (ii) an adjustment by the Advisor in the implementation of any agreed upon Trading Approach in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accounts. The Advisor, upon reasonable request and receipt of adequate assurances of confidentiality, shall provide the General Partner with an explanation of the differences, if any, in performance between the Partnership and any other similar account pursuant to the same Trading Approach for which the Advisor or any of its affiliates acts as a commodity trading advisor (in whole or in part).
(d) Upon reasonable notice from the General Partner, the Advisor Advi- sor shall permit the General Partner to review at the Advisor's offices during normal business hours such trading records as it reasonably may request for the purpose of confirming that the Partnership has been treated treat- ed equitably with respect to advice rendered during the term of this Agreement by the Advisor for other accounts managed by the Advisor, which the parties acknowledge to mean that the General Partner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its clients, all trading records of the Advisor as it reasonably may request related to such other accounts during normal business hours. The Advisor may, in its discretion, withhold from any such report or inspection the identity of the client for whom any such account is maintained and in any event, the Partnership and the General Partner shall keep all such information obtained by it from the Advisor confidential.to
Appears in 1 contract
Sources: Advisory Agreement (Prudential Bache Capital Return Futures Fund 2 L P)
Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the Advisor shall be free to manage and trade accounts for other investors (including in- cluding other public and private commodity pools) during the term of this Agreement and to use the same or other information and Trading Approach utilized in the performance of services for the Partnership for such other accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership pursuant to this Agreement is not materially impaired thereby. In addition, the Advisor and its employees, as applicable, also will be permitted to trade in Commodities for their own accounts, so long as the Advisor's ability to carry out its obligations and duties to the Partnership is not materially impaired thereby.
(b) Furthermore, so long as the Advisor is performing services for the Partnership, it agrees that it will not accept additional capital for management in the Commodities markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its agreed upon Trading Approach being used for the Partnership in a manner which might reasonably be expected to have a material adverse effect on the Partnership (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments to trading patterns in order to comply with speculative position limits or daily trading limits).
(c) The Advisor agrees, in its management of accounts other than the account of the Partnership, that it will not knowingly or deliberately favor any other account managed or controlled by it or any of its employees or affiliates (in whole or in part) over the Partnership. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it hereunder, or (ii) an adjustment by the Advisor in the implementation of any agreed upon Trading Approach in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accounts. The Advisor, upon reasonable request and receipt of adequate assurances of confidentiality, shall provide the General Partner with an explanation of the differences, if any, in performance between the Partnership and any other similar account pursuant to the same Trading Approach for which the Advisor or any of its affiliates acts as a commodity trading advisor (in whole or in part).
(d) Upon reasonable notice from the General Partner, the Advisor shall permit the General Partner to review at the Advisor's offices during normal business hours such trading records as it reasonably may request for the purpose of confirming that the Partnership has been treated equitably with respect to advice rendered during the term of this Agreement by the Advisor for other accounts managed by the Advisor, which the parties acknowledge to mean that the General Partner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its clients, all trading records of the Advisor as it reasonably may request related to such other accounts during normal business hours. The Advisor may, in its discretion, withhold from any such report or inspection the identity of the client for whom any such account is maintained and in any event, the Partnership and the General Partner shall keep all such information obtained by it from the Advisor confidential.
Appears in 1 contract
Sources: Advisory Agreement (Prudential Bache Optimax Futures Fund Lp)
Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the Advisor shall be free to manage and trade accounts for other investors (including other public and private commodity pools) during the term of this Agreement and to use the same or other information and Trading Approach utilized in the performance of services for the Partnership for such other accounts so long as the Advisor's ability to carry out its his obligations and duties to the Partnership pursuant to this Agreement is not materially impaired thereby. In addition, the Advisor and its his employees, as applicable, also will be permitted to trade in Commodities for their own accounts, so long as the Advisor's ability to carry out its his obligations and duties to the Partnership is not materially impaired thereby.
(b) Furthermore, so long as the Advisor is performing services for the Partnership, it he agrees that it he will not accept additional capital for management in the Commodities markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its his agreed upon Trading Approach being used for the Partnership in a manner which might reasonably be expected to have a material adverse effect on the Partnership (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments to trading patterns in order to comply with speculative position limits or daily trading limits).
(c) The Advisor agrees, in its his management of accounts other than the account of the Partnership, that it he will not knowingly or deliberately favor any other account managed or controlled by it him or any of its his employees or affiliates (in whole or in part) over the Partnership. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it hereunder, or (ii) an adjustment by the Advisor in the implementation of any agreed upon Trading Approach in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accounts. The Advisor, upon reasonable request and receipt of adequate assurances of confidentiality, shall provide the General Partner with an explanation of the differences, if any, in performance between the Partnership and any other similar account pursuant to the same Trading Approach for which the Advisor or any of its his affiliates acts as a commodity trading advisor (in whole or in part).
(d) Upon reasonable notice from the General Partner, the Advisor shall permit the General Partner to review at the Advisor's offices during normal business hours such trading records as it he reasonably may request for the purpose of confirming that the Partnership has been treated equitably with respect to advice rendered during the term of this Agreement by the Advisor for other accounts managed by the Advisor, which the parties acknowledge to mean that the General Partner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its his clients, all trading records of the Advisor as it reasonably may request related to such other accounts during normal business hours. The Advisor may, in its his discretion, withhold from any such report or inspection the identity of the client for whom any such account is maintained and in any event, the Partnership and the General Partner shall keep all such information obtained by it from the Advisor confidential.
Appears in 1 contract
Sources: Advisory Agreement (Prudential Bache Capital Return Futures Fund 3 L P)
Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the Advisor shall be free to manage and trade accounts for other investors (including other public and private commodity pools) during the term of this Agreement and to use the same or other information and Trading Approach utilized in the performance of services for the Partnership Trust for such other accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership Trust pursuant to this Agreement is not materially impaired thereby. Furthermore, neither the Advisor nor any shareholder, director, officer or employee of the Advisor shall cause or permit the Advisor to engage in any business enterprise, not presently engaged in, which is unrelated to the giving of Commodities advice or the operation of commodity pools if such other business will have a material adverse effect on the Advisor's ability to perform its obligations and duties to the Trust under this Agreement. In addition, the Advisor and its employees, as applicable, also will be permitted to trade in Commodities for their own accounts, so long as the Advisor's ability to carry out its obligations and duties to the Partnership Trust is not materially impaired thereby.
(b) Furthermore, so long as the Advisor is performing services for the PartnershipTrust, it agrees that it will not accept additional capital for management in the Commodities markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its agreed upon Trading Approach being used for the Partnership Trust in a manner which might reasonably be expected to have a material adverse effect on the Partnership Trust (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments to trading patterns in order to comply with speculative position limits or daily trading limits).
(c) The Advisor agrees, in its management of accounts other than the account of the PartnershipTrust, that it will not knowingly or deliberately favor any other account managed or controlled by it or any of its employees or affiliates (in whole or in part) over the PartnershipTrust. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it hereunder, or (ii) an adjustment by the Advisor in the implementation of any agreed upon Trading Approach in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accounts. The Advisor, upon reasonable request and receipt of adequate assurances of confidentiality, shall provide the General Partner Managing Owner with an explanation of the differences, if any, in performance between the Partnership Trust and any other similar account pursuant to the same Trading Approach for which the Advisor or any of its affiliates acts as a commodity trading advisor (in whole or in part), including an explanation of any performance differences involving any individual trading program being utilized by the Trust as part of the Trading Approach and any other client of the Advisor utilizing the same trading program.
(d) Upon reasonable notice from the General PartnerManaging Owner, the Advisor shall permit the General Partner Managing Owner to review at the Advisor's offices during normal business hours such trading records as it reasonably may request for the purpose of confirming that the Partnership Trust has been treated equitably with respect to advice rendered during the term of this Agreement by the Advisor for other accounts managed by the Advisor, which the parties acknowledge to mean that the General Partner Managing Owner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its clients, all trading records of the Advisor as it reasonably may request related to such other accounts during normal business hours. The Advisor may, in its discretion, withhold from any such report or inspection the identity of the client for whom any such account is maintained and in any event, the Partnership Trust and the General Partner Managing Owner shall keep all such information obtained by it from the Advisor confidential.
Appears in 1 contract
Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the Advisor shall be free to manage and trade accounts for other investors (including other public and private commodity pools) during the term of this Agreement and to use the same or other information and Trading Approach utilized in the performance of services for the Partnership Trust for such other accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership Trust pursuant to this Agreement is not materially impaired thereby. In addition, the Advisor and its officers, directors, and employees, as applicable, also will be permitted to trade in Commodities for their own accounts, so long as the Advisor's ability to carry out its obligations and duties to the Partnership Trust is not materially impaired thereby.
(b) Furthermore, so long as the Advisor is performing services for the PartnershipTrust, it agrees that it will not accept additional capital for management in the Commodities markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its agreed upon Trading Approach being used for the Partnership Trust in a manner which might reasonably be expected to have a material adverse effect on the Partnership Trust without giving the Managing Owner written notice thereof at least 90 days prior to accepting such additional capital (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments to trading patterns in order to comply with speculative position limits or daily trading limits).]
(c) The Advisor agrees, in its management of accounts other than the account of the PartnershipTrust, that it will not knowingly or deliberately favor any other account managed or controlled by it or any of its employees or affiliates (in whole or in part) over the PartnershipTrust. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it hereunder, or (ii) an adjustment by the Advisor in the implementation of the Trading Approach or other any agreed upon Trading Approach trading method or strategy in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accounts. The Advisor, upon reasonable request and receipt of adequate assurances of confidentiality, shall provide the General Partner Managing Owner with an explanation of the differences, if any, in performance between the Partnership Trust and any other similar account pursuant to the same Trading Approach for which the Advisor or any of its affiliates acts as a commodity trading advisor (in whole or in part).
(d) Upon reasonable notice from the General PartnerManaging Owner, the Advisor shall permit the General Partner Managing Owner to review at the Advisor's offices during normal business hours such trading records of other accounts managed by the Advisor or its affiliates pursuant to the Trading Approach employed for the Trust as it reasonably may request for the purpose of confirming that the Partnership Trust has been treated equitably with respect to advice rendered during the term of this Agreement by the Advisor for other accounts managed by the Advisor, which the parties acknowledge to mean that the General Partner Managing Owner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its clients, all trading records of the Advisor as it reasonably may request related to such other accounts during normal business hours. The Advisor may, in its discretion, withhold from any such report or inspection the identity of the client for whom any such account is maintained and in any event, the Partnership Trust and the General Partner Managing Owner shall keep all such information obtained by it from the Advisor confidential.
Appears in 1 contract
Other Accounts of the Advisor. (a) Subject to paragraph (b) of this Section 9, the Advisor shall be free to manage and trade accounts for other investors (including other public and private commodity pools) during the term of this Agreement and to use the same or other information and Trading Approach utilized in the performance of services for the Partnership Trust for such other accounts so long as the Advisor's ability to carry out its obligations and duties to the Partnership Trust pursuant to this Agreement is not materially impaired thereby. Furthermore, neither the Advisor nor any shareholder, director, officer or employee of the Advisor shall cause or permit the Advisor to engage in any business enterprise, not presently engaged in, which is unrelated to the giving of Commodities advice or the operation of commodity pools if such other business will have a material adverse effect on the Advisor's ability to perform its obligations and duties to the Trust under this Agreement. In addition, the Advisor and its employees, as applicable, also will be permitted to trade in Commodities for their own accounts, so long as the Advisor's ability to carry out its obligations and duties to the Partnership Trust is not materially impaired thereby.
(b) Furthermore, so long as the Advisor is performing services for the PartnershipTrust, it agrees that it will not accept additional capital for management in the Commodities markets if doing so would have a reasonable likelihood of resulting in the Advisor having to modify materially its agreed upon Trading Approach being used for the Partnership Trust in a manner which might reasonably be expected to have a material adverse effect on the Partnership Trust (without limiting the generality of the foregoing, it is understood that this paragraph shall not prohibit the acceptance of additional capital, which acceptance requires only routine adjustments to trading patterns in order to comply with speculative position limits or daily trading limits).
(c) The Advisor agrees, in its management of accounts other than the account of the PartnershipTrust, that it will not knowingly or deliberately favor any other account managed or controlled by it or any of its employees or affiliates (in whole or in part) over the PartnershipTrust. The preceding sentence shall not be interpreted to preclude inter alia (i) the Advisor from charging another client fees which differ from the fees to be paid to it hereunder, or (ii) an adjustment by the Advisor in the implementation of any agreed upon Trading Approach in accordance with the procedures set forth in Section 1 hereof, which is undertaken by the Advisor in good faith in order to accommodate additional accounts. The Advisor, upon reasonable request and receipt of adequate assurances of confidentiality, shall provide the General Partner Managing Owner with an explanation of the differences, if any, in performance between the Partnership Trust and any other similar account pursuant to the same Trading Approach for which the Advisor or any of its affiliates acts as a commodity trading advisor (in whole or in part).
(d) Upon reasonable notice from the General Partner, the Advisor shall permit the General Partner to review at the Advisor's offices during normal business hours such including an explanation of any performance differences involving any individual trading records as it reasonably may request for the purpose of confirming that the Partnership has been treated equitably with respect to advice rendered during the term of this Agreement program being utilized by the Advisor for Trust as part of the Trading Approach and any other accounts managed by the Advisor, which the parties acknowledge to mean that the General Partner may inspect, subject to such restrictions as the Advisor may reasonably deem necessary or advisable so as to preserve the confidentiality of proprietary information and the identity of its clients, all trading records client of the Advisor as it reasonably may request related to such other accounts during normal business hours. The Advisor may, in its discretion, withhold from any such report or inspection utilizing the identity of the client for whom any such account is maintained and in any event, the Partnership and the General Partner shall keep all such information obtained by it from the Advisor confidentialsame trading program.
Appears in 1 contract