OPENING CAPITAL ACCOUNTS. (a) There shall be established for each Unit of each Class on the books of this FuturesAccess Fund, as of the first day of each Accounting Period, an opening capital account (“Opening Capital Account”) which, for the Accounting Period as of the beginning of which such Unit is issued, shall be the Capital Contribution made in respect of such Unit and which, for each Accounting Period thereafter, shall be an amount equal to the closing capital account (“Closing Capital Account”) (determined as set forth in Section 2.06) attributable to such Unit for the immediately preceding Accounting Period. (b) The Sponsor may, but shall not be required to, make Capital Contributions to this FuturesAccess Fund from time to time as new Units are issued, which shall be accounted for on a Unit-equivalent basis and shall participate in the profits and losses of the Units on the same basis as the Capital Accounts of the Class D Units. (c) For all purposes of this Agreement, references to Units shall be deemed to include the Sponsor’s Capital Account on a Unit-equivalent basis (unless the context otherwise requires or the reference is made explicit for greater certainty).

OPENING CAPITAL ACCOUNTS. (a) There shall be established for each Unit of each Class on the books of this Fund, as of the first day of each Accounting Period, an Opening Capital Account which, for the Accounting Period as of the beginning of which such Unit is issued, shall be the Capital Contribution made in respect of such Unit and which, for each Accounting Period thereafter, shall be an amount equal to the Closing Capital Account (determined as set forth in Section 2.06) attributable to such Unit for the immediately preceding Accounting Period. (b) The Manager may, but shall not be required to, make Capital Contributions to this Fund from time to time as new Units are issued, which shall be accounted for on a Unit-equivalent basis and shall participate in the profits and losses of the Units on the same basis as the Capital Accounts of the Class I Units. (c) For all purposes of this Agreement, references to Units shall be deemed to include the Manager's Capital Account on a Unit-equivalent basis (unless the context otherwise requires or the reference is made explicit for greater certainty).

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OPENING CAPITAL ACCOUNTS. A Capital Account will be established as to each Unit on the books of the Fund as of the date on which the Units is first issued to a Limited Partner with an initial balance equal to such Unit’s initial net asset value, to be subsequently adjusted pursuant to Section 4.3 and 4.4.

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OPENING CAPITAL ACCOUNTS. The Company shall establish and maintain a Capital Account for each Member. For each Accounting Period during the term of this Agreement, the Company shall establish for each Member an opening Capital Account Balance (the “Opening Capital Account Balance”) and a Closing Capital Account Balance. The initial Opening Capital Account Balance of each Member shall be equal to such Member’s Initial Capital Contribution. The Opening Capital Account Balance of a Member for each Accounting Period subsequent to the Accounting Period in which such Member was admitted to the Company shall be an amount equal to the Closing Capital Account Balance of such Member, determined in accordance with Section 4.2, for the immediately preceding Accounting Period plus the amount of any Additional Capital Contributions made by such Member hereto as of the beginning of such subsequent Accounting Period. Capital Accounts are intended to be maintained hereunder, to the extent consistent with the terms of this Agreement, in accordance with Code Sections 704(b) and (c) and the Treasury Regulations thereunder.

OPENING CAPITAL ACCOUNTS. The Opening Capital Account as of the beginning of the Accounting Period in which the Limited Partner is admitted shall be his Capital Contribution as of that date. The Opening Capital Account as of the beginning of each subsequent Accounting Period shall be the Limited Partner’s Closing Capital Account for the immediately preceding Accounting Period (determined under §4.2), increased by any additional Capital Contribution, decreased by the amount of any withdrawals made by the Limited Partner as of the end of the preceding Accounting Period and by the amount of any distribution made to him during such Accounting Period under Article 6.

OPENING CAPITAL ACCOUNTS. The Company shall establish and maintain a Capital Account for each Member. For each Accounting Period during the term of this Agreement, the Company shall establish for each Member an opening Capital Account Balance (the “Opening Capital Account Balance”) and a Closing Capital Account Balance. The initial Opening Capital Account Balance of each Member shall be equal to such Member’s Initial Capital Contribution, provided that NBGV’s initial Opening Capital Account Balance will reflect the amounts contributed by NBGV on the date hereof, and any Working Capital Contribution reflected on Schedule A to be contributed to the Company by NBGV at a later date shall increase NBGV’s Capital Account Balance accordingly. The Opening Capital Account Balance of a Member for each Accounting Period subsequent to the Accounting Period in which such Member was admitted to the Company shall be an amount equal to the Closing Capital Account Balance of such Member, determined in accordance with Section 4.2, for the immediately preceding Accounting Period plus the amount of any Additional Capital Contributions made by such Member hereto as of the beginning of such subsequent Accounting Period. Capital Accounts are intended to be maintained hereunder, to the extent consistent with the terms of this Agreement, in accordance with Code Sections 704(b) and (c) and the Treasury Regulations thereunder.

OPENING CAPITAL ACCOUNTS. An Opening Capital Account shall be established for each Partner on the books of the Partnership as of the first day of each Accounting Period. A Partner's Opening Capital Account as of the first day of the Accounting Period in which such Partner is admitted to the Partnership shall be the amount of such Partner's initial Capital Contribution made as of such date (net of organizational charges). A Partner's Opening Capital Account as of the beginning of each Accounting Period after the Accounting Period in which such Partner is admitted to the Partnership shall be an amount equal to the Closing Capital Account of such Partner as of the end of the immediately preceding Accounting Period, decreased by the amount of any Capital Withdrawals or distributions made by or to the Partner as of the end of the preceding Accounting Period and increased by any additional Capital Contribution made by such Partner effective as of the beginning of such Accounting Period.

OPENING CAPITAL ACCOUNTS. An Opening Capital Account shall be established for each Partner on the books of the Partnership, as of the date on which such Partner made its Original Capital Contribution, in an amount equal to such Original Capital Contribution, in an amount equal to such Original Capital Contribution. The Opening Capital Account of the Partner for each Accounting Period subsequent to the initial Accounting Period shall be an amount equal to the Closing Capital Account of such Partner, determined in accordance with Section 6.2, for the immediately preceding Accounting Period.

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