Common use of Capital Account Balances Clause in Contracts

Capital Account Balances. The Capital Account balances of Members of the Company shall be determined on such days and at such time or times as the Directors may determine, consistent with the requirements of the Investment Company Act, with income, gains and losses of each class thereof determined in accordance with generally accepted accounting principles to be allocated among the Members of such class thereof in accordance with their Units. The power and duty to make calculations of the Capital Account balances of the Members may be delegated by the Directors to the Adviser, Administrator, Custodian, or such other person as the Directors may determine. (a) The balance in a Member's Capital Account as of the beginning of each Accounting Period shall be referred to herein as the "Opening Balance" of such Account for such Accounting Period, and the balance in a Member's Capital Account as of the end of each Accounting Period shall be referred to herein as the "Closing Balance" of such Account for such Accounting Period. (b) The Opening Balance of a Member's Capital Account as of the beginning of the first Accounting Period in which a Capital Contribution is credited to such Capital Account shall equal the amount of such contribution. The Opening Balance of a Member's Capital Account as of the beginning of each subsequent Accounting Period shall equal the Closing Balance of such Account as of the end of the immediately preceding Accounting Period, increased by any additional Capital Contribution credited to such Capital Account as of the beginning of such Accounting Period and reduced by any capital withdrawals distributed from such Account as of the beginning of such Accounting Period. (c) The Closing Balance of a Member's Capital Account as of the end of an Accounting Period shall be equal to the Opening Balance of such Account as of the beginning of such Accounting Period, adjusted in the following manner: any increase or decrease in Net Asset Value for such Accounting Period shall be credited or debited (as the case may be) to such Opening Balance, pro rata in accordance with the Unit Percentage associated with such Account as of the beginning of such Accounting Period.

Capital Account Balances. The Capital Account balances of Members of the Company shall be determined on such days and at such time or times as the Directors may determine, consistent with the requirements of the Investment Company Act, with income, gains and losses of each class thereof determined in accordance with generally accepted accounting principles to be allocated among the Members of such class thereof in accordance with their Units. The power and duty to make calculations of the Capital Account balances of the Members may be delegated by the Directors to the Adviser, Administrator, Custodian, or such other person as the Directors may determine. (a) The balance in a Member's ’s Capital Account as of the beginning of each Accounting Period shall be referred to herein as the "“Opening Balance" ” of such Account for such Accounting Period, and the balance in a Member's ’s Capital Account as of the end of each Accounting Period shall be referred to herein as the "“ Closing Balance" ” of such Account for such Accounting Period. (b) The Opening Balance of a Member's ’s Capital Account as of the beginning of the first Accounting Period in which a Capital Contribution is credited to such Capital Account shall equal the amount of such contribution. The Opening Balance of a Member's ’s Capital Account as of the beginning of each subsequent Accounting Period shall equal the Closing Balance of such Account as of the end of the immediately preceding Accounting Period, increased by any additional Capital Contribution credited to such Capital Account as of the beginning of such Accounting Period and reduced by any capital withdrawals distributed from such Account as of the beginning of such Accounting Period. (c) The Closing Balance of a Member's ’s Capital Account as of the end of an Accounting Period shall be equal to the Opening Balance of such Account as of the beginning of such Accounting Period, adjusted in the following manner: any increase or decrease in Net Asset Value for such Accounting Period shall be credited or debited (as the case may be) to such Opening Balance, pro rata in accordance with the Unit Percentage associated with such Account as of the beginning of such Accounting Period.