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      "text": "GSAM may value an identical asset differently than Goldman Sachs, or another division or unit within Goldman Sachs, values the asset, including because Goldman Sachs, or such other division or unit, has information or uses valuation techniques and models that it does not share with, or that are different than those of, GSAM.",
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      "text": "With respect to Advisory Accounts that hold interests in Underlying Funds, GSAM ordinarily values such interests based upon valuations of underlying investments provided by the Advisers (i.e., GSAM is a “price taker”), and such Advisers have interests and incentives that differ from those of Advisory Accounts, including relating to the calculation of the Advisers’ fees.",
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