Common use of Price of Units Clause in Contracts

Price of Units. Upon the establishment of a Fund and its division into Units and series of Units, the Manager will determine the price of the original Units of that Fund. Thereafter, the subscription price per Unit of Units of a Fund purchased pursuant to a subscription will be the Series Net Asset Value per Unit of that series of Unit of that Fund determined on the Valuation Day on which the subscription is accepted, provided it is accepted before the Close of Business on such Valuation Day, or the Valuation Day next following the acceptance of the subscription.