Class NAV definition

Class NAV means, with respect to a Class, the amount determined from time to time in the manner set out in section 3(a) of Part I;

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Class NAV means the aggregate net asset value of a particular class of Partnership Units, and shall be calculated as: (i) the aggregate Investable Proceeds of such class of Partnership Units divided by (ii) the aggregate Investable Proceeds of all classes of Partnership Units multiplied by (iii) the Net Asset Value. The Class NAV may be adjusted by class, at the sole discretion of the Portfolio Manager, for factors including, but not limited to, assets, liabilities, revenues, Commissions, costs, expenses or any transaction unique to each class of Partnership Units.

Class NAV or “Class Net Asset Value” means in respect of any particular Class of Units of the Trust or Class of LP Units of the Partnership on any particular Business Day, the portion of the Net Asset Value of the Trust attributed to the Units of such Class or of the Partnership attributed to the LP Units of such Class as determined by the Trustee or the Partnership as the context may require.

Examples of Class NAV in a sentence

• The daily fee accruals for each Series shall be computed by multiplying the fraction of one divided by the number of days in the calendar year by the applicable annual administration fee rate (as set forth in Schedule B hereto), and multiplying this product by the NAV of the Trust Class of such Series, determined in the manner set forth in such Series's then-current Trust Class Prospectus, as of the close of business on the last preceding business day on which such Series's Trust Class NAV was determined.

• The daily fee accruals for each Series shall be computed by multiplying the fraction of one divided by the number of days in the calendar year by the applicable annual administration fee rate (as set forth in Schedule B hereto), and multiplying this product by the NAV of the Trust Class of such Series, determined in the manner set forth in such Series’ then-current Trust Class Prospectus, as of the close of business on the last preceding business day on which such Series’ Trust Class NAV was determined.

• The NAV of the Fund (“Fund NAV”) and of any Class (“Class NAV”) is the net assets of the Fund or the Class, as of the close of business on the Valuation Date, determined in accordance with Section 5.4. Net assets of the Fund and of each Class are its assets minus its liabilities, as set forth more fully in this Section 5.3. Class NAV may include the Class’ share of Fund NAV not associated with another particular Class.

• The daily fee accruals for each Series shall be computed by multiplying the fraction of one divided by the number of days in the calendar year by the applicable annual administration fee rate (as set forth in Schedule B hereto), and multiplying this product by the NAV of the Trust Class of such Series, determined in the manner set forth in such Series' then-current Trust Class Prospectus, as of the close of business on the last preceding business day on which such Series' Trust Class NAV was determined.

• The charges will be debited from the Capital Accounts of the Members as of the close of the Accounting Period (or at such other time(s) determined by the Managing Member) during which the items were paid or accrued by the Company and the Unit ownership of such Members (or the applicable Class NAV) will be adjusted as provided in Section 8.1.

More Definitions of Class NAV

Class NAV means, in respect of any Class of Shares or the Voting Shares at any time, that share of the NAV allocable to such Class of Shares or the Voting Shares, adjusted to reflect the Class of Shares’ or the Voting Shares’ proportionate share of Common Expenses and its Share Class Expenses;

Class NAV means, for each Class, the portion of the Company’s Net Asset Value attributable to such Class.

Class NAV means the NAV of any Class of Units of the Fund;

Class NAV means, for each Class, the sum of the Series NAVs for all Series within such Class. For the avoidance of doubt, the sum of the Class NAVs for all Classes shall equal Net Asset Value.

Class NAV means the aggregate net asset value of a particular class of Partnership Units, and shall be calculated as: (i) the aggregate Investable Proceeds of such class of Partnership Units divided by

Class NAV means the aggregate net asset value of a particular class of Partnership Units, and shall be calculated as:

Class NAV means in respect of a class of Partnership Units, a portion of the Net Asset Value attributed to such class of Partnership Units by the General Partner in its sole discretion, acting reasonably, with reference to factors including, but not limited to, assets, liabilities, revenues, Commissions, costs, expenses, or any transaction unique to each class of Partnership Units (including, for greater certainty, any accrued Special Allocation with respect to a class of Partnership Units).