Common use of Prior Period Adjustments Clause in Contracts

Prior Period Adjustments. (a) (i) Each Member holding Units in a given Series shall either (A) pay (if a former Member) or (B) permit (if still a Member) the Sponsor to deduct from the Capital Account(s) of the Units held by such Member by Redeeming Units, the amount of any Prior Period Adjustment that the Sponsor determines to be due from such Member or former Member with respect to such Series. With regard to each Series, if a Prior Period Adjustment (or portion thereof) can be specifically identified as attributable to a Member or a former Member of such Series, then the Sponsor shall use reasonable efforts to allocate such Prior Period Adjustment to, and collect such Prior Period Adjustment from, such Member (by Redemption of Units or otherwise) or former Member. The Sponsor shall use reasonable efforts to allocate each Prior Period Adjustment to the current or former Members (each, a “Prior Period Member”) which were Members during the Accounting Period(s) to which such Prior Period Adjustment relates in accordance with the number of Units of such Series which such current or former Member then held. For the avoidance of doubt, each Prior Period Member shall be liable for such portion of each such Prior Period Adjustment as is proportionate to such Prior Period Member’s Units or average Units outstanding, as compared to the total Units or average total Units outstanding, for the relevant prior Accounting Period(s);

Prior Period Adjustments. (a) (i) Each Member holding Units in a given Series shall either (Ai) pay (if a former Member) or (Bii) permit (if still a Member) the Sponsor to deduct from the such Member's Capital Account(s) of the Units held by such Member by Redeeming Units, the amount of any Prior Period Adjustment that the Sponsor determines to be due from such Member or former Member with respect to such Series. With regard to each Series, if a Prior Period Adjustment (or portion thereof) can be specifically identified as attributable to a Member or a former Member of such Series, then the Sponsor shall use reasonable efforts to allocate such Prior Period Adjustment to, and collect such Prior Period Adjustment from, such Member (by Redemption of Units or otherwise) or former Member. The Sponsor shall use reasonable efforts to allocate each Prior Period Adjustment to the current or former Members (each, a “"Prior Period Member”") which were Members during the Accounting Period(s) to which such Prior Period Adjustment relates in accordance with the number of Units of such Series which such current or former Member then held. For the avoidance of doubt, each Prior Period Member shall be liable for such portion of each such Prior Period Adjustment as is proportionate to such Prior Period Member’s 's Units or average averaged Units outstanding, as compared to the total Units or average total Units outstanding, for the relevant prior Accounting Period(s);

Prior Period Adjustments. (a) (i) Each Member holding Units in a given Series shall either (A) pay (if a former Member) or (B) permit (if still a Member) the Sponsor to deduct from the Capital Account(s) of the Units held by such Member by Redeeming Units, the amount of any Prior Period Adjustment that the Sponsor determines to be due from such Member or former Member with respect to such Series. With regard to each Series, if a Prior Period Adjustment (or portion thereof) can be specifically identified as attributable to a Member or a former Member of such Series, then the Sponsor shall use reasonable efforts to allocate such Prior Period Adjustment to, and collect such Prior Period Adjustment from, such Member (by Redemption of Units or otherwise) or former Member. The Sponsor shall use reasonable efforts to allocate each Prior Period Adjustment to the current or former Members (each, a “"Prior Period Member”") which were Members during the Accounting Period(s) to which such Prior Period Adjustment relates in accordance with the number of Units of such Series which such current or former Member then held. For the avoidance of doubt, each Prior Period Member shall be liable for such portion of each such Prior Period Adjustment as is proportionate to such Prior Period Member’s 's Units or average Units outstanding, as compared to the total Units or average total Units outstanding, for the relevant prior Accounting Period(s);