VALUATION OF ASSETS. (a) Valuation of Securities and other assets shall be made by the Board in accordance with the requirements of the 1940 Act and the valuation procedures adopted by the Board. (b) The value of the assets and liabilities shall be determined by reference to the latest market prices and values available and in further accordance with the valuation procedures adopted by the Board. (c) The value of Securities and other assets of the Company and the net worth of the Company as a whole determined pursuant to this Section 7.3 shall be conclusive and binding on all of the Members and all parties claiming through or under them.
Appears in 32 contracts
Samples: Limited Liability Company Agreement (PNC Absolute Return TEDI Fund LLC), Limited Liability Company Agreement (PNC Absolute Return Fund LLC), Limited Liability Company Agreement (PNC Long-Short Fund LLC)
VALUATION OF ASSETS. (a) Valuation of Securities and other assets shall be made by the Board in accordance with the requirements of the 1940 Act and the valuation procedures adopted by the Board.
(b) The value of the assets and liabilities shall be determined by reference to the latest market prices and values available and in further accordance with the valuation procedures adopted by the Board.
(c) The value of Securities and other assets of the Company Master Fund and the net worth of the Company Master Fund as a whole determined pursuant to this Section 7.3 shall be conclusive and binding on all of the Members and all parties claiming through or under them.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Mercantile Alternative Strategies Master Fund LLC), Limited Liability Company Agreement (PNC Long-Short Master Fund LLC), Limited Liability Company Agreement (PNC Absolute Return Master Fund LLC)
