Common use of Adjusted Capital Account Deficit Clause in Contracts

Adjusted Capital Account Deficit. “Adjusted Capital Account Deficit” shall mean, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant fiscal year, after giving effect to the following adjustments: (i) crediting to such Capital Account any amounts that such Member is obligated to restore or is deemed to be obligated to restore pursuant to Regulations sections 1.704-1(b)(2)(ii)(b)(3), 1.704-1(b)(2)(ii)(c), 1.704-2(g)(1), and 1.704-2(i)(5), and (ii) debiting to such Capital Account the items described in Regulations section 1.704-1(b)(2)(ii)(d)(4), (5), and (6). The foregoing definition of Adjusted Capital Account Deficit is intended to comply with the provisions of Regulations section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

Adjusted Capital Account Deficit. “Adjusted Capital Account Deficit” shall mean, with With respect to any MemberShareholder, the deficit balance, if any, in such MemberShareholder’s Capital Account (as defined below) as of the end of the relevant fiscal yearFiscal Year or other period, after giving effect to the following adjustments: : (i) crediting Credit to such Capital Account any amounts that which such Member Shareholder is obligated to restore to the Company pursuant to Regulations § 1.704-1(b)(2)(ii)(c) or is deemed to be obligated to restore pursuant to Regulations sections 1.704-1(b)(2)(ii)(b)(3), 1.704-1(b)(2)(ii)(c), § 1.704-2(g)(1), and ) or Regulations § 1.704-2(i)(5), and ; and (ii) debiting Debit to such Capital Account the items described in Regulations section §§ 1.704-1(b)(2)(ii)(d)(4), (5d)(5), and (6d)(6). The foregoing definition of Adjusted Capital Account Deficit is intended to comply with the provisions of Regulations section § 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

Adjusted Capital Account Deficit. “Adjusted Capital Account Deficit” shall mean, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant fiscal year, after giving effect to the following adjustments: (i) crediting to such Capital Account any amounts that such Member is obligated to restore or is deemed to be obligated to restore pursuant to Regulations sections 1.704-1(b)(2)(ii)(b)(3), 1.704-1(b)(2)(ii)(c), 1.704-2(g)(1), and 1.704-2(i)(5), and (ii) debiting to such Capital Account the items described in Regulations section 1.704-1(b)(2)(ii)(d)(4), (5), and (6). The foregoing definition of Adjusted Capital Account Deficit is intended to comply with the provisions of Regulations section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.. 1

Adjusted Capital Account Deficit. “Adjusted Capital Account Deficit” shall mean, with With respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant fiscal yearFiscal Year or other period, after giving effect to the following adjustments: : (i) crediting Credit to such Capital Account any amounts that which such Member is obligated to restore to the Company pursuant to Section 1.704-1(b)(2)(ii)(c) of the Regulations or is deemed to be obligated to restore pursuant to Regulations sections 1.704-1(b)(2)(ii)(b)(3), 1.704-1(b)(2)(ii)(c), Sections 1.704-2(g)(1), and ) or 1.704-2(i)(5), and ) of the Regulations; and (ii) debiting Debit to such Capital Account the items described in Regulations section 1.704-1(b)(2)(ii)(d)(4Sections 1.704- l(b)(2)(ii)(d)(4), (5), d)(5) and (6)d)(6) of the Regulations. The foregoing definition of Adjusted Capital Account Deficit is intended to comply with the provisions of Regulations section Section 1.704-1(b)(2)(ii)(d) of the Regulations and shall be interpreted consistently therewith.