Net Liquidating Value definition
Net Liquidating Value means, with respect to any Commodity Account, the sum of (i) the aggregate marked-to-market value of all futures positions, (ii) the aggregate liquidation value of all option positions, (iii) the cash balance, in each case credited to such Commodity Account and (iv) Cash Equivalents credited to such Commodity Account.
Net Liquidating Value with respect to any commodity account as of any date, the amount the holder of such account would be entitled to receive if all commodity contracts held in such account were liquidated on such date and all gains and losses on such contracts were realized on such date, and all amounts held as margin (whether initial, maintenance or otherwise) in such account.