Capital Accounts Adjusted for Fund Expense. As a result of the admission of an Additional Limited Partner to the Fund or an increase in the Capital Commitment of any Increasing Partner pursuant to this Section 2.6, the Capital Account of each Partner shall be adjusted by an amount to reflect such Partner’s pro rata share (in proportion to the respective Percentage Interests of the Partners) of all Offering and Organizational Expenses and Fund Expenses as if such Additional Limited Partner or Increasing Partner had been a Limited Partner (with a Percentage Interest equal to the new Percentage Interest of an Additional Limited Partner or the increased Percentage Interest of an Increasing Partner) from the Initial Closing Date. If any expenses relating to the foregoing adjustments are to be amortized by the Fund rather than charged immediately, the Capital Accounts of the Partners shall be adjusted as such expenses are so amortized. In order to give effect to the provisions of this Section 2.6.4, allocations of Net Profits and Net Losses (or items thereof) after the admission of each Additional Limited Partner, and after the increase by any Increasing Partner of its Capital Commitment, may be allocated disproportionately among the Partners until each such Partner’s Capital Account contains the balance it would have contained had all Fund Expenses been allocated to all the Partners in accordance with Sections 3.5 (assuming that all Limited Partners had been admitted to the Fund on the Initial Closing Date).
