NET PROFITS OR NET LOSSES. The amount by which the Net Assets as of the close of business on the last day of a Fiscal Period exceed (in the case of Net Profit) or are less than (in the case of Net Loss) the Net Assets as of the commencement of the same Fiscal Period (or, with respect to the initial Fiscal Period of the Company, at the close of business on the Closing Date), such amount to be adjusted to exclude:
Appears in 32 contracts
Samples: Limited Liability Company Agreement (PNC Absolute Return Fund LLC), Limited Liability Company Agreement (PNC Absolute Return TEDI Fund LLC), Limited Liability Company Agreement (PNC Long-Short Fund LLC)
NET PROFITS OR NET LOSSES. The amount by which the Net Assets as of the close of business on the last day of a Fiscal Period exceed (in the case of Net Profit) or are less than (in the case of Net Loss) the Net Assets as of the commencement of the same Fiscal Period (or, with respect to the initial Fiscal Period of the CompanyMaster Fund, at the close of business on the Closing Date), such amount to be adjusted to exclude:
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Mercantile Long-Short Manager Master Fund LLC), Limited Liability Company Agreement (PNC Long-Short Master Fund LLC), Limited Liability Company Agreement (PNC Alternative Strategies Master Fund LLC)
NET PROFITS OR NET LOSSES. The amount by which the Net Assets as of the close of business on the last day of a Fiscal Period exceed (in the case of Net Profit) or are less than (in the case of Net Loss) the Net Assets as of the commencement of the same Fiscal Period (or, with respect to the initial Fiscal Period of the CompanyPortfolio, at the close of business on the Closing Date), such amount to be adjusted to exclude:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Growth Capital Portfolio, LLC), Limited Liability Company Agreement (Growth Capital TEI Portfolio, LLC)
NET PROFITS OR NET LOSSES. The amount by which the Net Assets as of the close of business on the last day of a Fiscal Period exceed (in the case of Net Profit) or are less than (in the case of Net Loss) the Net Assets as of the commencement of the same Fiscal Period (or, with respect to the initial Fiscal Period of the CompanyMaster Portfolio, at the close of business on the Closing Date), such amount to be adjusted to exclude:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Growth Capital Master Portfolio, LLC), Limited Liability Company Agreement (Growth Capital Master Portfolio, LLC)
