Common use of Powers of the Trading Manager Clause in Contracts

Powers of the Trading Manager. The Trading Manager shall have and may exercise on behalf of the Company all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Company and as permitted under the Act and the CEA. Except as otherwise expressly set forth in this Agreement, the Trading Manager is authorized on behalf of the Company to: (a) enter into an advisory agreement (the “Advisory Agreement”) on behalf of the Company with [Name of CTA] (the “CTA”) and to cause the Company to pay the CTA the management and incentive fees provided for in the Advisory Agreement. The Trading Manager is further authorized to modify (including changing the form and amount of compensation and other arrangements and terms) or terminate the Advisory Agreement in its sole discretion in accordance with the terms of such agreement and to employ from time to time other commodity trading advisors for the Company pursuant to advisory agreements having such terms and conditions and providing for such form and amount of compensation as the Trading Manager in its sole discretion shall deem to be in the best interests of the Company. (b) open one or more managed accounts with the CTA or investment in private funds sponsored by the Trading Manager or the CTA. (c) monitor the performance of the CTA. (d) provide the Company with such information concerning the CTA as the Company may reasonably request and shall obtain and provide the Company with an acknowledgment of receipt of the CTA’s current disclosure document or other relevant disclosure information as provided by the CTA. (e) enter into customer agreements and foreign exchange customer agreements (the “Customer Agreements”) with ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. International Limited, and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital Group Inc., and any affiliate or non-affiliate of the aforementioned entities (the “Commodity Brokers”), and to cause the Company to pay to the Commodity Brokers brokerage fees at the rate provided for in the Customer Agreements. The Trading Manager is further authorized to modify (including, changing the form and amount of compensation and other arrangements and terms) and terminate the Customer Agreements in its sole discretion in accordance with the terms of such agreements and to employ from time to time other commodity brokers for the Company pursuant to customer agreements having such terms and conditions and providing for such form and amount of compensation as the Trading Manager in its sole discretion shall deem to be in the best interests of the Company; provided, however, that the Trading Manager shall review at least annually the brokerage arrangements with the Company to ensure that such brokerage fees are fair, reasonable, and competitive, taking into consideration, the circumstances described in the Memorandum. (f) assist in the development of sales materials for internal and customer use and consult with the Company’s Members regarding marketing activities in connection with the solicitation of subscriptions for units of the Members as such Members may reasonably request from time to time. (g) deliver to the Company reports concerning the Company’s trading on a periodic basis, as agreed to by the Trading Manager, the Members and the Trading Advisor (or as required by law). (h) assist the Company in the calculation of any fees and expenses incurred by the Company. (i) assist the Company in preparing reports with respect to its Members and any equity holder in any Member. (j) enter into agreements and contracts with third parties, terminate such agreements and institute, defend and settle litigation arising therefrom and give receipts, releases and discharges with respect to all of the foregoing and any matters incident thereto. (k) perform all other services on behalf of the Company relating to the commodity trading advisors and the Commodity Brokers as the Company may request and which, in the judgment of the Trading Manager, are reasonable.

Powers of the Trading Manager. The Trading Manager shall have and may exercise on behalf of the Company all powers and rights necessary, proper, convenient or advisable to effectuate and carry out the purposes, business and objectives of the Company and as permitted under the Act and the CEA. Except as otherwise expressly set forth in this Agreement, the Trading Manager is authorized on behalf of the Company to: (a) enter into an advisory agreement (the “Advisory Agreement”) on behalf of the Company with [Name of CTA] Blenheim Capital Management, L.L.C. (the “CTA”) and to cause the Company to pay the CTA the management and incentive fees provided for in the Advisory Agreement. The Trading Manager is further authorized to modify (including changing the form and amount of compensation and other arrangements and terms) or terminate the Advisory Agreement in its sole discretion in accordance with the terms of such agreement and to employ from time to time other commodity trading advisors for the Company pursuant to advisory agreements having such terms and conditions and providing for such form and amount of compensation as the Trading Manager in its sole discretion shall deem to be in the best interests of the Company. (b) open one or more managed accounts with the CTA or investment in private funds sponsored by the Trading Manager or the CTA. (c) monitor the performance of the CTA. (d) provide the Company with such information concerning the CTA as the Company may reasonably request and shall obtain and provide the Company with an acknowledgment of receipt of the CTA’s current disclosure document or other relevant disclosure information as provided by the CTA. (e) enter into customer agreements and foreign exchange customer agreements (the “Customer Agreements”) with ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. Incorporated, ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ & Co. International Limited, and ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ Capital Group Inc., and any affiliate or non-affiliate of the aforementioned entities (the “Commodity Brokers”), and to cause the Company to pay to the Commodity Brokers brokerage fees at the rate provided for in the Customer Agreements. The Trading Manager is further authorized to modify (including, changing the form and amount of compensation and other arrangements and terms) and terminate the Customer Agreements in its sole discretion in accordance with the terms of such agreements and to employ from time to time other commodity brokers for the Company pursuant to customer agreements having such terms and conditions and providing for such form and amount of compensation as the Trading Manager in its sole discretion shall deem to be in the best interests of the Company; provided, however, that the Trading Manager shall review at least annually the brokerage arrangements with the Company to ensure that such brokerage fees are fair, reasonable, and competitive, taking into consideration, the circumstances described in the Memorandum. (f) assist in the development of sales materials for internal and customer use and consult with the Company’s Members regarding marketing activities in connection with the solicitation of subscriptions for units of the Members as such Members may reasonably request from time to time. (g) deliver to the Company reports concerning the Company’s trading on a periodic basis, as agreed to by the Trading Manager, the Members and the Trading Advisor (or as required by law). (h) assist the Company in the calculation of any fees and expenses incurred by the Company. (i) assist the Company in preparing reports with respect to its Members and any equity holder in any Member. (j) enter into agreements and contracts with third parties, terminate such agreements and institute, defend and settle litigation arising therefrom and give receipts, releases and discharges with respect to all of the foregoing and any matters incident thereto. (k) perform all other services on behalf of the Company relating to the commodity trading advisors and the Commodity Brokers as the Company may request and which, in the judgment of the Trading Manager, are reasonable.