Incentive Allocation. (a) As of the end of each Incentive Period with respect to each Unit (other than a Management Unit), an amount (the “Incentive Allocation”) equal to twenty percent (20%) of the excess of (i) the Net Asset Value Per Unit of such Unit (determined before deduction of the Incentive Allocation, but after deduction or accrual of all other expenses or liabilities of the Company as of such date) since the beginning of such Incentive Period over (ii) the Prior High NAV of such Class, shall be deducted from the Net Asset Value of such Unit and credited to the Capital Account of the Manager.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Graham Alternative Investment Fund I LLC), Limited Liability Company Agreement (Graham Alternative Investment Fund I LLC)
Incentive Allocation. (a) As of the end of each Incentive Period with respect to each Unit (other than a Management Unit), an amount (the “Incentive Allocation”) equal to twenty percent (20%) of the excess of (i) the Net Asset Value Per Unit of such Unit (determined before deduction of the Incentive Allocation, but after deduction or accrual of all other expenses or liabilities of the Company as of such date) since as of the beginning end of such Incentive Period over (ii) the Prior High NAV of such Class, shall be deducted from the Net Asset Value of such Unit and credited to the Capital Account of the Manager.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Graham Alternative Investment Fund Ii LLC), Limited Liability Company Agreement (Graham Alternative Investment Fund Ii LLC)
