LEVERAGE FACILITIES Sample Clauses

LEVERAGE FACILITIES. Record all necessary borrowing requests initiated by the Master Fund under credit or other leverage facilities (whether in the form of indebtedness for borrowed money, derivative instruments or otherwise) to cover cash requirements of the Master Fund. Calculate accrued interest and commitment fees and make payments in accordance with the terms of the leverage facilities. Apply available cash to reduce outstanding borrowings where instructed to do so by the Master Fund. ACCOUNTING SERVICES: (1) CALCULATION OF DAILY ESTIMATED NET ASSET VALUE - calculate daily estimated NAV in accordance with accounting policies established by the Master Fund and provided to SEI by compiling available information regarding the investments of the underlying funds and managers, updating market value of investments through standard pricing agents, and appropriate pricing services, and information provided by the Master Fund and its delegates. Enter manual prices where necessary, review changes in NAV for reasonableness, check individual security price variations, and complete variance analysis on currency exchange rates via automated reporting. Calculate daily income and expense accruals (including but not limited to administration fees, incentive fees and management fees) and realized and unrealized gain/loss, and record other expense accruals. (2) CALCULATE MONTHLY ADJUSTED ESTIMATED AND FINAL NET ASSET VALUE - Calculate the adjusted estimated (based on final estimated valuations received by the underlying funds and managers) and final NAVs for the Master Fund as of each month-end (and at such other times as may be required pursuant to the governing documents) by compiling available information regarding the investments of the underlying funds and managers, updating market value of investments through standard pricing agents, and appropriate pricing services, and information provided by the Master Fund and its delegates in accordance with the LLC Agreement, and such reasonable valuation procedures as may be adopted from time to time by the Master Fund and that have previously been provided to SEI. Enter manual prices where necessary, review changes in NAV for reasonableness, check individual security price variations, and complete variance analysis on currency exchange rates via automated reporting. Calculate daily income and expense accruals (including but not limited to administration fees, incentive fees and management fees) and record other expense accruals. If requested b...