Net Capital Depreciation definition

Net Capital Depreciation with respect to any Accounting Period, shall mean the excess, if any, of the Beginning Value over the Ending Value.

Net Capital Depreciation with respect to any Series means the excess of the Net Assets of such Series on the first day of a Fiscal Period over the Net Assets of such Series on the last day of the same Fiscal Period, after subtracting any capital contributions by Members during the Fiscal Period with respect to such Series and adding any distributions to or withdrawals by Members during the Fiscal Period with respect to such Series.

Net Capital Depreciation means any decrease in the value of the Fund's Net Assets, including unrealized losses, from the beginning of each Allocation Period to the end of such Allocation Period (before giving effect to repurchases of Interests and Management Fees, but after giving effect to expenses other than Management Fees), and with respect to any calendar year or other period used to determine the Incentive Allocation, refers to any aggregate Net Capital Depreciation for such period in excess of the aggregate Net Capital Appreciation for such period.

Examples of Net Capital Depreciation in a sentence

• At the end of each Fiscal Period, each Capital Account of each Member (including the Manager) for such Fiscal Period shall be adjusted by crediting (in the case of Net Capital Appreciation) or debiting (in the case of Net Capital Depreciation) the Net Capital Appreciation or Net Capital Depreciation, as the case may be, to each Capital Account of each Member (including the Manager) in proportion to their respective Ownership Percentages for such Fiscal Period.

• Net Capital Appreciation and Net Capital Depreciation of the Company during the Fiscal Periods which include the period of liquidation shall be allocated pursuant to Article III.

• Net Capital Appreciation and Net Capital Depreciation for any Allocation Period during the period of liquidation will be allocated in accordance with Article V of this Agreement.

• For purposes of determining allocations, including calculating the Incentive Allocation and the balance in a Capital Account's Loss Recovery Account, any Investor-Related Taxes related to a Limited Partner shall be deemed distributed from the Capital Account(s) of such Limited Partner to such Limited Partner and shall not be deemed to be expenses that reduce Net Capital Appreciation, increase Net Capital Depreciation or increase the balance of the Loss Recovery Account.

• If a Deficit Account for the Limited Partner did not exist prior to such fiscal year, the initial account Deficit Account balance shall be the amount of the Net Capital Depreciation of such Limited Partner for the fiscal year.

More Definitions of Net Capital Depreciation

Net Capital Depreciation means, with respect to any Accounting Period, the excess, if any, of the Beginning Value over the Ending Value. With respect to any Incentive Period, the term “Net Capital Depreciation” shall mean the aggregate Net Capital Depreciation for such period less the aggregate Net Capital Appreciation for such period, but in no event shall it be less than zero.

Net Capital Depreciation means the aggregate Net Capital Depreciation for such period less the aggregate Net Capital Appreciation for such period, but in no event shall it be less than zero.

Net Capital Depreciation means, with regard to any Accounting Period, the difference between the Net Asset Value of the Partnership at the beginning of the Accounting Period (after giving effect to withdrawals for the preceding Accounting Period and capital contributions for the current Accounting Period) and the Net Asset Value of the Partnership at the close of the same Accounting Period (before giving effect to withdrawals for such Accounting Period). Any increase in the Net Asset Value shall be deemed Net Capital Appreciation and any decrease in Net Asset Value shall be deemed Net Capital Depreciation.

Net Capital Depreciation means the excess of the Net Assets of the Company on the first day of a Fiscal Period over the Net Assets of the Company on the last day of the same Fiscal Period, after subtracting any capital contributions by Members during the Fiscal Period and adding any distributions to or withdrawals by Members during the Fiscal Period.

Net Capital Depreciation means, with respect to any Fiscal Period, the difference, if any, between (x) the sum of (i) the value of the Fund’s net asset value at the beginning of that Fiscal Period (prior to the Management Fee for such Fiscal Period) increased by the dollar amount of shares of the Fund repurchased during the Fiscal Period (excluding shares to be repurchased as of the last day of the Fiscal Period after determination of the Incentive Fee) and (ii) the amount of any dividends, distributions or withdrawals during that Fiscal Period (excluding any dividends and other distributions to be paid as of the last day of the Fiscal Period) and (y) the sum of (i) the value of the Fund’s net asset value at the end of that Fiscal Period (prior to the Incentive Fee for such Fiscal Period), (ii) the Management Fee expense and sales load (or other similar sales load) for that Fiscal Period, and (iii) the amount of any subscriptions to the Fund during that Fiscal Period. All calculations of Net Capital Depreciation will be made (without duplication) after deduction of all general, administrative and other operating expenses of the Fund (excluding the Incentive Fee) and any amounts necessary, in the Investment Manager’s sole discretion, as appropriate reserves for such expenses.

Net Capital Depreciation means the decrease in the value of the Partnership’s Net Asset Value, including unrealized losses, from the beginning of each Accounting Period to the end of such Accounting Period (before giving effect to withdrawals).

Net Capital Depreciation means the decrease in the value of the Fund's net assets, including unrealized losses, from the beginning of each Accounting Period to the end of the Accounting Period.(i.e. if the Limited Partner's Capital Account is below the Limited Partner's "high water mark") withdraws a portion of his investment in the Fund, the amount of unoffset Net Capital Depreciation will be reduced on a pro rata basis to reflect the reduction in investible capital of the Limited Partner. For example, if a Limited Partner has an unrecouped prior-year Net Capital Depreciation of $100 when the Limited Partner withdraws 40% of his aggregate Capital Accounts, the Limited Partner's unrecouped prior-year Net Capital Depreciation will be $60 after the withdrawal. If a Limited Partner is permitted or compelled to withdraw in whole or in part from the Fund or to transfer all or part of his interest in the Fund as of a date other than the close of a fiscal year, the General Partner will receive a Performance Allocation with respect to the portion of such Limited Partner's Capital Account being withdrawn or transferred, as of the date of the withdrawal or the admission of a substituted Limited Partner, as applicable. The General Partner may waive or reduce the Performance Allocation with respect to certain Limited Partners, including the General Partner (in its status, if any, as a Limited Partner) or its affiliate, and may pay all or a portion of the Performance Allocation to third parties for services rendered in connection with the placement of interests in the Fund. See Section 3.5 of the Limited Partnership Agreement. Valuation of Fund Assets Important note: The discussion of valuation below covers a wide range of assets. The reader should not assume that the Fund will invest in any particular assets described below. Valuation of Fund assets is governed by Section 3.6 of the Fund's Limited Partnership Agreement, which reads as follow: