Common use of Capital Accounts and General Financial Allocations Clause in Contracts

Capital Accounts and General Financial Allocations. (a) A Capital Account shall be established for each Unit, and for the Sponsor on a Unit-equivalent basis. The balance of each Unit’s Capital Account shall be the amount contributed to the Series with respect to such Unit, which amount shall be equal to the Net Asset Value per Unit (or, in the case of an initial offering of a Series, a price per Unit as determined by the Sponsor) on the date each Unit is purchased after all accrued fees and expenses, including performance fee accruals at the Trading Fund level which may, in fact, never be paid. As of the close of business (or as determined by the Sponsor) on the last day of each month, any increase or decrease in a Series’ Net Asset Value as compared to the last such determination of Net Asset Value shall be credited or charged equally to the Capital Accounts of all Units then outstanding; provided that for purposes of maintaining such Capital Accounts, amounts paid or payable to the Sponsor for items such as Sponsor’s Fees (if any) shall be treated as if paid or payable to a third party and shall not be credited to the Capital Account held by the Sponsor.

Capital Accounts and General Financial Allocations. (a) A Capital Account shall be established for each Unit, and for the Sponsor on a Unit-equivalent basis. The balance of each Unit’s 's Capital Account shall be the amount contributed to the Series with respect to such Unit, which amount shall be equal to the Net Asset Value per Unit (or, in the case of an initial offering of a Series, a price per Unit as determined by the Sponsor) on the date each Unit is purchased after all accrued fees and expenses, including performance fee accruals at the Trading Fund level which may, in fact, never be paid. As of the close of business (or as determined by the Sponsor) on the last day of each month, any increase or decrease in a Series’ ' Net Asset Value as compared to the last such determination of Net Asset Value shall be credited or charged equally to the Capital Accounts of all Units then outstanding; provided that for purposes of maintaining such Capital Accounts, amounts paid or payable to the Sponsor for items such as Sponsor’s 's Fees (if any) shall be treated as if paid or payable to a third party and shall not be credited to the Capital Account held by the Sponsor.

Capital Accounts and General Financial Allocations. (a) A Capital Account shall be established for each Unit, and for the Sponsor on a Unit-equivalent basis. The balance of each Unit’s Capital Account shall be the amount contributed to the Series with respect to such Unit, which amount shall be equal to the Net Asset Value per Unit (or, in the case of an initial offering of a Series, a price per Unit as determined by the Sponsor) on the date each Unit is purchased after all accrued fees and expenses, including performance fee accruals at the Trading Fund level which may, in fact, never be paid. As of the close of business (or as determined by the Sponsor) on the last day of each month, any increase or decrease in a Series’ Net Asset Value as compared to the last such determination of Net Asset Value shall be credited or charged equally to the Capital Accounts of all Units then outstanding; provided that for purposes of maintaining such Capital Accounts, amounts paid or payable to the Sponsor for items such as Sponsor’s Fees (if any) shall be treated as if paid or payable to a third party and shall not be credited to the Capital Account held by the Sponsor.

Capital Accounts and General Financial Allocations. (a) A Capital Account shall be established for each Unit, and for the Sponsor on a Unit-equivalent basis. The balance of each Unit’s 's Capital Account shall be the amount contributed to the Series with respect to such Unit, which amount shall be equal to the Net Asset Value per Unit (or, in the case of an initial offering of a Series, a price per Unit as determined by the Sponsor) on the date each Unit is purchased after all accrued fees and expenses, including performance fee accruals at the Trading Fund level which may, in fact, never be paid. As of the close of business (or as determined by the Sponsor) on the last day of each month, any increase or decrease in a Series’ ' Net Asset Value as compared to the last such determination of Net Asset Value shall be credited or charged equally to the Capital Accounts of all Units then outstanding; provided that for purposes of maintaining such Capital Accounts, amounts paid or payable to the Sponsor for items such as Sponsor’s 's Fees (if any) shall be treated as if paid or payable to a third party and shall not be credited to the Capital Account held by the Sponsor.