Material Net Loss definition
Material Net Loss is defined as any remaining loss, after netting losses against any gains, which impacts a Fund’s net asset value per share by more than ½ cent. Gains and losses will be reflected on a Fund’s daily share sheet, and the Fund will be reimbursed for any material net loss on a monthly basis. USBFS will reset the “as of” ledger each calendar quarter so that any losses which do not exceed the materiality threshold of ½ cent will not be carried forward to the next succeeding quarter.
Examples of Material Net Loss in a sentence
At the end of each calendar month, Oaktree Capital Management, L.P., the Funds’ investment adviser (the “Adviser”), will reimburse the Funds for any Material Net Loss that may exist on the Funds’ books for which the Adviser is determined to be responsible.