Common use of FISCAL YEAR; ACCOUNTING PERIODS Clause in Contracts

FISCAL YEAR; ACCOUNTING PERIODS. The fiscal year of Systematic Momentum FuturesAccess shall end on each December 31. Systematic Momentum FuturesAccess’ accounting periods (“Accounting Periods”), as of the end of each of which increases and decreases in Systematic Momentum FuturesAccess’ “Net Assets” (as defined in Section 2.04) — as notified to the Sponsor by the FuturesAccess Funds in which the Sponsor invests Systematic Momentum FuturesAccess’ capital — shall be calculated and reflected in the “Net Asset Value” (as defined in Section 2.04) of the Units issued by Systematic Momentum FuturesAccess, shall begin: (i) as of the day that Systematic Momentum FuturesAccess first begins operations; (ii) as of the day that any Unit is issued; (iii) as of the day immediately following any redemption of Units or withdrawal from an Investor’s Capital Account (as defined in Section 1.07(b)); (iv) as of the 1st and 16th day of each calendar month; and (v) as of such other day as the Sponsor may determine. An Accounting Period shall end on the day immediately preceding the beginning of the next Accounting Period.

FISCAL YEAR; ACCOUNTING PERIODS. The fiscal year of Systematic Momentum FuturesAccess shall end on each December 31. Systematic Momentum FuturesAccess’ accounting periods (“Accounting Periods”), as of the end of each of which increases and decreases in Systematic Momentum FuturesAccess’ “Net Assets” (as defined in Section 2.04) — as notified to the Sponsor by the FuturesAccess Funds in which the Sponsor invests Systematic Momentum FuturesAccess’ capital — shall be calculated and reflected in the “Net Asset Value” (as defined in Section 2.04) of the Units issued by Systematic Momentum FuturesAccess, shall begin: (i) as of the day that Systematic Momentum FuturesAccess first begins operations; (ii) as of the day that any Unit is issued; (iii) as of the day immediately following any redemption of Units or withdrawal from an Investor’s Capital Account (as defined in Section 1.07(b))Account; (iv) as of the 1st and 16th day beginning of each calendar month; and (v) as of such other day as the Sponsor may determine. An Accounting Period shall end on the day immediately preceding the beginning of the next Accounting Period.

FISCAL YEAR; ACCOUNTING PERIODS. The fiscal year of Systematic Momentum FuturesAccess shall end on each December 31. Systematic Momentum FuturesAccess’ ' accounting periods (“"Accounting Periods”"), as of the end of each of which increases and decreases in Systematic Momentum FuturesAccess’ “' "Net Assets” " (as defined in Section 2.04) — as notified to the Sponsor by the FuturesAccess Funds in which the Sponsor invests Systematic Momentum FuturesAccess’ ' capital — shall be calculated and reflected in the “"Net Asset Value” " (as defined in Section 2.04) of the Units issued by Systematic Momentum FuturesAccess, shall begin: (i) as of the day that Systematic Momentum FuturesAccess first begins operations; (ii) as of the day that any Unit is issued; (iii) as of the day immediately following any redemption of Units or withdrawal from an Investor’s 's Capital Account (as defined in Section 1.07(b)); (iv) as of the 1st and 16th day beginning of each calendar month; and (v) as of such other day as the Sponsor may determine. An Accounting Period shall end on the day immediately preceding the beginning of the next Accounting Period.

FISCAL YEAR; ACCOUNTING PERIODS. The fiscal year of Systematic Momentum FuturesAccess shall end on each December 31. Systematic Momentum FuturesAccess’ accounting periods (“Accounting Periods”), as of the end of each of which increases and decreases in Systematic Momentum FuturesAccess’ “Net Assets” (as defined in Section 2.04) — as notified to the Sponsor by the FuturesAccess Funds in which the Sponsor invests Systematic Momentum FuturesAccess’ capital — shall be calculated and reflected in the “Net Asset Value” (as defined in Section 2.04) of the Units issued by Systematic Momentum FuturesAccess, shall begin: (i) as of the day that Systematic Momentum FuturesAccess first begins operations; (ii) as of the day that any Unit is issued; (iii) as of the day immediately following any redemption of Units or withdrawal from an Investor’s Capital Account (as defined in Section 1.07(b)); (iv) as of the 1st and 16th day beginning of each calendar month; and (v) as of such other day as the Sponsor may determine. An Accounting Period shall end on the day immediately preceding the beginning of the next Accounting Period.