Allocation of Organizational Expenses. Organizational Expenses shall be allocated among and debited against the Capital Accounts of the Investors as of the last day of the Fiscal Period in which such expenses were incurred by the Fund in proportion to their respective Capital Account balances as of the first day of such Fiscal Period.
Appears in 4 contracts
Samples: Operating Agreement (Grosvenor Registered Multi-Strategy Master Fund, LLC), Operating Agreement (Grosvenor Registered Multi-Strategy Fund (Ti 1), LLC), Operating Agreement (Columbia Management Multi Strategy Hedge Fund LLC)
