Common use of Partnership Accounting Clause in Contracts

Partnership Accounting. (1) Account for capital contributions and withdrawals on a timely basis in accordance with the Governing Documents. (2) Calculate per Unit net asset value, per Unit net earnings, and other per Unit amounts reflective of the Fund’s operations at such time as required by the nature and characteristics of the Fund (or as specified in the Governing Documents). (3) Communicate, at an agreed upon time, the per Unit price for each valuation date. (4) Prepare allocations of profit, loss, special and other allocations among the Unitholders in accordance with the allocation methodology identified in the Prospectus. (5) Monitor and allocate “new issue” income among the Unitholders in accordance with applicable National Association of Securities Dealers, Inc., rules.

Appears in 3 contracts

Samples: Administration Servicing Agreement (City National Rochdale Structured Claims Fixed Income Fund LLC), Administration Servicing Agreement (Rochdale High Yield Advances Fund LLC), Administration Servicing Agreement (Rochdale Structured Claims Fixed Income Fund LLC)

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Partnership Accounting. (1) Account for capital contributions and withdrawals on a timely basis in accordance with the Governing Documents. (2) Calculate per Unit Share net asset value, per Unit Share net earnings, and other per Unit Share amounts reflective of the Fund’s Funds’ operations at such time as required by the nature and characteristics of the Fund Funds (or as specified in the Governing Documents). (3) Communicate, at an agreed upon time, the per Unit Share price for each valuation date. (4) Prepare allocations of profit, loss, special and other allocations among the Unitholders in accordance with the allocation methodology identified in the Prospectus. (5) Monitor and allocate “new issue” income among the Unitholders in accordance with applicable National Association of Securities Dealers, Inc., rules.

Appears in 2 contracts

Samples: Administration Servicing Agreement (City National Rochdale High Yield Alternative Strategies Fund TEI LLC), Administration Servicing Agreement (Rochdale Core Alternative Strategies Fund LLC)

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