Common use of Responsibilities of the Administrator Clause in Contracts

Responsibilities of the Administrator. The Administrator is responsible for providing authorization and direction to the Sub-Administrator with respect to the CFTC Services. The Administrator is responsible for arranging, in each case where appropriate, for the review and comment by Administrator’s or the Fund’s independent accountants and legal counsel of CFTC financial information, reports and any filings prepared by the Sub-Administrator. In addition, the Administrator is solely responsible for determining Fund’s status as a CPO, and/or Fund’s eligibility for an exclusion from classification as a CPO. The Administrator shall be responsible for accurately and timely supplying the Sub-Administrator with complete financial, organizational and other information, and/or arranging for the provision of such information from third parties, as may be required in order for the Sub-Administrator to provide the CFTC Services, and any information requested by the Sub-Administrator in connection with the foregoing. The Sub-Administrator is authorized and instructed to rely upon the information it receives from the Administrator, the Fund or any third party (including, without limitation, the Fund’s third party administrator(s), custodian(s), prime broker(s), and other service providers to the Fund) authorized by the Administrator or the Fund to provide such information to the Sub-Administrator and on any instructions received from the Administrator or the Fund. The Administrator, the Fund and any third party from which the Sub-Administrator shall receive or obtain certain records, reports and other data included in the CFTC Services provided hereunder are solely responsible for the contents of such information, including, without limitation, the accuracy thereof, and the Sub-Administrator shall be entitled to rely on such records, reports and other data as provided to the Sub-Administrator by the Administrator, the Fund or any third party, and any instructions provided to the Sub-Administrator by the Administrator or the Fund, and shall have no responsibility for making any interpretive determinations with respect thereto. The Sub-Administrator has no responsibility to review, confirm or otherwise assume any duty with respect to the accuracy or completeness of any such information, or instructions, and shall be without liability for any loss or damage suffered by the Administrator or the Fund as a result of the Sub-Administrator’s reliance on and utilization of such information or instructions believed by it to be genuine and to have been properly issued by or on behalf of the Administrator or the Fund or such third party. The Sub-Administrator shall have no responsibility and shall be without liability for any loss or damage caused by the failure of the Administrator, the Fund or any third party to provide it with the information required. Subject to the authorization and direction of the Administrator or the Fund and, in each case where appropriate, the review and comment by Administrator’s or the Fund’s independent accountants and legal counsel, and in accordance with procedures that may be established from time to time between the Administrator or the Fund and the Sub-Administrator, the Sub-Administrator will:

Responsibilities of the Administrator. The Administrator Trust is responsible for providing authorization and direction to the Sub-Administrator with respect to the CFTC Services. The Administrator Trust is responsible for arranging, in each case where appropriate, for the review and comment by Administrator’s or the FundTrust’s independent accountants and legal counsel of CFTC financial information, reports and any filings prepared by the Sub-Administrator. In addition, the Administrator Trust is solely responsible for determining FundTrust’s status as a CPO, and/or FundTrust’s eligibility for an exclusion from classification as a CPO. The Administrator Trust shall be responsible for accurately and timely supplying the Sub-Administrator with complete financial, organizational and other information, and/or arranging for the provision of such information from third parties, as may be required in order for the Sub-Administrator to provide the CFTC Services, and any information requested by the Sub-Administrator in connection with the foregoing. The Sub-Administrator is authorized and instructed to rely upon the information it receives from the Administrator, the Fund Trust or any third party (including, without limitation, the FundTrust’s third party administrator(s), custodian(s), prime broker(s), and other service providers to the FundTrust) authorized by the Administrator or the Fund Trust to provide such information to the Sub-Administrator and on any instructions received from the Administrator or the FundTrust. The Administrator, the Fund Trust and any third party from which the Sub-Administrator shall receive or obtain certain records, reports and other data included in the CFTC Services provided hereunder are solely responsible for the contents of such information, including, without limitation, the accuracy thereof, and the Sub-Administrator shall be entitled to rely on such records, reports and other data as provided to the Sub-Administrator by the Administrator, the Fund Trust or any third party, and any instructions provided to the Sub-Administrator by the Administrator or the FundTrust, and shall have no responsibility for making any interpretive determinations with respect thereto. The Sub-Administrator has no responsibility to review, confirm or otherwise assume any duty with respect to the accuracy or completeness of any such information, or instructions, and shall be without liability for any loss or damage suffered by the Administrator or the Fund Trust as a result of the Sub-Administrator’s reliance on and utilization of such information or instructions believed by it to be genuine and to have been properly issued by or on behalf of the Administrator or the Fund Trust or such third party. The Sub-Administrator shall have no responsibility and shall be without liability for any loss or damage caused by the failure of the Administrator, the Fund Trust or any third party to provide it with the information required. Subject to the authorization and direction of the Administrator or the Fund Trust and, in each case where appropriate, the review and comment by Administrator’s or the FundTrust’s independent accountants and legal counsel, and in accordance with procedures that may be established from time to time between the Administrator or the Fund Trust and the Sub-Administrator, the Sub-Administrator will:

Responsibilities of the Administrator. The Administrator is responsible for providing authorization and direction to the Sub-Administrator with respect to the CFTC Services. The Administrator is responsible for arranging, in each case where appropriate, for the review and comment by Administrator’s or the FundTrust’s independent accountants and legal counsel of CFTC financial information, reports and any filings prepared by the Sub-Administrator. In addition, the Administrator is solely responsible for determining FundTrust’s status as a CPO, and/or FundTrust’s eligibility for an exclusion from classification as a CPO. The Administrator shall be responsible for accurately and timely supplying the Sub-Administrator with complete financial, organizational and other information, and/or arranging for the provision of such information from third parties, as may be required in order for the Sub-Administrator to provide the CFTC Services, and any information requested by the Sub-Administrator in connection with the foregoing. The Sub-Administrator is authorized and instructed to rely upon the information it receives from the Administrator, the Fund Trust or any third party (including, without limitation, the FundTrust’s third party administrator(s), custodian(s), prime broker(s), and other service providers to the FundTrust) authorized by the Administrator or the Fund Trust to provide such information to the Sub-Administrator and on any instructions received from the Administrator or the FundTrust. The Administrator, the Fund Trust and any third party from which the Sub-Administrator shall receive or obtain certain records, reports and other data included in the CFTC Services provided hereunder are solely responsible for the contents of such information, including, without limitation, the accuracy thereof, and the Sub-Administrator shall be entitled to rely on such records, reports and other data as provided to the Sub-Administrator by the Administrator, the Fund Trust or any third party, and any instructions provided to the Sub-Administrator by the Administrator or the FundTrust, and shall have no responsibility for making any interpretive determinations with respect thereto. The Sub-Administrator has no responsibility to review, confirm or otherwise assume any duty with respect to the accuracy or completeness of any such information, or instructions, and shall be without liability for any loss or damage suffered by the Administrator or the Fund Trust as a result of the Sub-Administrator’s reliance on and utilization of such information or instructions believed by it to be genuine and to have been properly issued by or on behalf of the Administrator or the Fund Trust or such third party. The Sub-Administrator shall have no responsibility and shall be without liability for any loss or damage caused by the failure of the Administrator, the Fund Trust or any third party to provide it with the information required. Subject to the authorization and direction of the Administrator or the Fund Trust and, in each case where appropriate, the review and comment by Administrator’s or the FundTrust’s independent accountants and legal counsel, and in accordance with procedures that may be established from time to time between the Administrator or the Fund Trust and the Sub-Administrator, the Sub-Administrator will: