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ess of a specified amount and would not be deductible in calculating alternative minimum tax liability. Pursuant to Temporary Regulations issued by the Treasury Department, these limitations on deductibility should not apply to a noncorporate Limited Partner's share of the expenses of the Master Partnership to the ext
esses for determining the fair value of the Fund's positions (which are generally subject to verification by the Administrator) are administered by Millennium's Valuation Committee, which is comprised of persons independent from specific portfolio management decisions. The fair value of the Master Partnership's positions is de
ich are not deductible by a noncorporate taxpayer in calculating its alternative minimum tax liability. Pursuant to Temporary Regulations issued by the Treasury Department, these limitations on deductibility should not apply to a noncorporate Limited Partner's share of the expenses of the Master Partnership to the ext
itted to the Administrator for review) are formulated and ML281817-MAXWELL II-23 CONFIDENTIAL UBSTERRAMAR00002439 EFTA00237995 administered by Millennium's Valuation Committee, which is comprised of persons independent from specific portfolio management decisions. The fair value of the Master Partnership's positions is de
ich are not deductible by a noncorporate taxpayer in calculating its alternative minimum tax liability. Pursuant to Temporary Regulations issued by the Treasury Department, these limitations on deductibility should not apply to a noncorporate Limited Partner's share of the expenses of the Master Partnership to the ext
are submitted to the Administrator for review) are formulated and -MAXWELL II-23 CONFIDENTIAL UBSTERRAMAR00001386 EFTA00237032 administered by Millennium's Valuation Committee, which is comprised of persons independent from specific portfolio management decisions. The fair value of the Master Partnership's positions is de
Entities connected to both U.S. Treasury and Millennium's Valuation Committee

United States
LOCATION
George W. Bush
PERSON
Ghislaine Maxwell
PERSON
New York
LOCATION
United Kingdom
LOCATION
Wilbur Ross
PERSONCayman
LOCATION
the Internal Revenue Service
ORGANIZATION
Mohammed bin Salman
PERSON
Dallas
LOCATION
JPMorgan Chase
ORGANIZATION
Malaysia
LOCATION
New York State
LOCATIONKeogh
ORGANIZATIONMarkel
ORGANIZATION
Tokyo
LOCATIONthe State of New York
LOCATION
Luxembourg
LOCATIONErnst & Young LLP
ORGANIZATIONthe University of Pennsylvania
ORGANIZATION