EFTA Document EFTA01451520

SOF III - 1081 Southern Financial LLC items of Master Fund income, gain, loss, deduction and credit for the taxable year of the Master Fund ending within or with the taxable year of such Investor, regardless of whether such Investor has received or will receive corresponding distributions from the Onshore Feeder Fund. Thus, an Investor's income tax liability in a particular year may exceed the amount of cash actually received from the Onshore Feeder Fund by the Investor. Each Investor is r