Compensated Assets definition
Compensated Assets for any quarter shall mean the average value of the assets in the Fund Account excluding the average value of the assets representing Excess Capacity Allocations, with such values as reported by the Fund’s fund accountant on the last business day of each month ended in the calendar quarter and the last business day of the month ended immediately prior to the calendar quarter. For the avoidance of doubt, Compensated Assets includes assets in the Fund Account that may be attributable to money borrowed under a credit facility.