Common use of Adjusted Capital Account Deficit Clause in Contracts

Adjusted Capital Account Deficit. As used in this Agreement, “Adjusted Capital Account Deficit” means, with respect to any Member, the deficit balance, if any, in the Member’s Capital Account as of the end of the relevant taxable year, after giving effect to the following adjustments: (i) crediting thereto (A) the amount of the Member’s shares of partnership minimum gain and partner nonrecourse debt minimum gain, and (B) the amount of Company liabilities allocated to the Member under Section 752 of the Code with respect to which the Member bears the economic risk of loss (as defined in Treasury Regulation Section 1.752-2(a)), to the extent such liabilities do not constitute partner nonrecourse debt under Treasury Regulation Section 1.752-2 and (ii) reduced by all reasonably expected adjustments, allocations and distributions described in Treasury Regulation Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6).

Adjusted Capital Account Deficit. As used in this Agreement, “Adjusted Capital Account Deficit” means, with With respect to any Member, the deficit balance, if any, in the such Member’s Capital Account Account, as of the end of the relevant taxable fiscal year, after giving effect to the following adjustments: (i) crediting thereto (A) the amount of the such Member’s shares share of partnership minimum gain and Minimum Gain, including any “partner nonrecourse debt minimum gain” (as defined in Treasury Regulations Section 1.704-2(i)), and (B) the amount of Company liabilities allocated to the such Member under Section 752 of the Code with respect to which the such Member bears the economic risk of loss (as defined in Treasury Regulation Regulations Section 1.752-2(a)), to the extent such liabilities do not constitute “partner nonrecourse debt debt” under Treasury Regulation Regulations Section 1.752-2 and (ii) reduced by all reasonably expected adjustments, allocations and distributions described in Treasury Regulation Regulations Sections 1.704-1(b)(2)(ii)(d)(4l(b)(2)(ii)(d)(4), (5) and (6).

Adjusted Capital Account Deficit. As used in this Agreement, “Adjusted Capital Account Deficit” means, with respect to any Member, the deficit balance, if any, in the Member’s Capital Account as of the end of the relevant taxable year, after giving effect to the following adjustments: (i) crediting thereto (A) the amount of the Member’s shares of partnership minimum gain and partner nonrecourse debt minimum gain, and (B) the amount of Company liabilities allocated to the Member under Section 752 of the Code with respect to which the Member bears the economic risk of loss (as defined in Treasury Regulation Section 1.752-2(a)), to the extent such liabilities do not constitute partner member nonrecourse debt under Treasury Regulation Section 1.752-2 and (ii) reduced by all reasonably expected adjustments, allocations and distributions described in Treasury Regulation Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6).

Adjusted Capital Account Deficit. As used in this Agreement, “Adjusted Capital Account Deficit” means, with With respect to any Member, the deficit balance, if any, in the such Member’s Capital Account Account, as of the end of the relevant taxable fiscal year, after giving effect to the following adjustments: (i) crediting thereto (A) the amount of the such Member’s shares share of partnership minimum gain and Minimum Gain, including any “partner nonrecourse debt minimum gain” (as defined in Treasury Regulations Section 1.704-2(i)), and (B) the amount of Company liabilities allocated to the such Member under Section 752 of the Code with respect to which the such Member bears the economic risk of loss (as defined in Treasury Regulation Regulations Section 1.752-2(a)), to the extent such liabilities do not constitute “partner nonrecourse debt debt” under Treasury Regulation Regulations Section 1.7521 752-2 and (ii) reduced by all reasonably expected adjustments, allocations and distributions described in Treasury Regulation Regulations Sections 1.704-1(b)(2)(ii)(d)(4l(b)(2)(ii)(d)(4), (5) and (6).