Common use of BENCHMARK RETURN Clause in Contracts

BENCHMARK RETURN. The Benchmark Return is a non-cumulative return, determined from the first date of the fiscal year except if a Member’s initial capital contribution is made after the beginning of the fiscal year the Benchmark Return shall instead be determined from such initial contribution date. The Benchmark Return as of any accounting date shall equal the average of the rates for the generic three-month LIBOR as of the last day of each of the four immediately preceding calendar dates, as published by Bloomberg, L.P.

BENCHMARK RETURN. The Benchmark Return is a non-cumulative return, determined from the first date of the fiscal year except if a Member’s 's initial capital contribution is made after the beginning of the fiscal year the Benchmark Return shall instead be determined from such initial contribution date. The Benchmark Return as of any accounting date shall equal the average of the rates for the generic three-month LIBOR as of the last day of each of the four immediately preceding calendar datesquarters, as published by Bloomberg, L.P.