Valuation Reserves. Except as otherwise expressly provided in this Agreement, in determining the value of accounts of the Company for all purposes, the assets and liabilities of the Company shall be valued in accordance with Section 1.9; The Manager, in its sole and absolute discretion may provide reserves or holdbacks for estimated accrued expenses, assets that are difficult to value, and liabilities or contingencies, including general reserves or holdbacks for unspecified contingencies (even if such reserves or holdbacks are not required by GAAP).
Appears in 3 contracts
Sources: Limited Liability Company Agreement (FRONTIER MASTERS SERIES, a Series of the Frontier Fund), Limited Liability Company Agreement (FRONTIER MASTERS SERIES, a Series of the Frontier Fund), Limited Liability Company Agreement (FRONTIER MASTERS SERIES, a Series of the Frontier Fund)