Common use of Adjusted Capital Account Deficit Clause in Contracts

Adjusted Capital Account Deficit. 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: (a) Credit to such Capital Account any amounts which such Member is deemed to be obligated to restore pursuant to Treasury Regulations Sections 1.704-1(b)(2)(ii)(c), 1.704-2(g)(1), and 1.704- 2(i)(5); and (b) Debit to such Capital Account the items described in Treasury Regulations Sections 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 Treasury Regulations Sections 1.704-1(b)(2)(ii)(d) and 1.704-2, and shall be interpreted consistently therewith.

Adjusted Capital Account Deficit. With respect to any MemberPerson, the deficit balance, if any, in such Member’s Person's Capital Account as of the end of the relevant fiscal year year, after giving effect to the following adjustments: (a) a. Credit to such Capital Account any amounts which such Member Person is obligated to restore or is deemed to be obligated to restore pursuant to Treasury Regulations Sections 1.704-1(b)(2)(ii)(c), the penultimate sentences of Reg. §§ 1.704-2(g)(1), ) and 1.704- 1.704-2(i)(5); and (b) b. Debit to such Capital Account the items described in Treasury Regulations Sections 1.704- Reg. §§ 1.704-1(b)(2)(ii)(d)(4), (5), 1.704-1(b)(2)(ii)(d)(5) and (61.704-1(b)(2)(ii)(d)(6). The foregoing definition of “Adjusted Capital Account Deficit” Deficit is intended to comply with the provisions of Treasury Regulations Sections Reg. § 1.704-1(b)(2)(ii)(d) and 1.704-2, and shall be interpreted consistently therewith.

Adjusted Capital Account Deficit. With respect to any Member, the The deficit balance, if any, in such Member’s Capital Account as of at the end of the relevant fiscal year after giving effect to any taxable year, with the following adjustments: : (aA) Credit to such Capital Account any amounts which amount that such Member is deemed to be obligated to restore pursuant to Treasury Regulations Sections under Treas. Reg. Section 1.704-1(b)(2)(ii)(c), as well as any addition thereto pursuant to the penultimate sentences of Treas. Reg. Sections 1.704-2(g)(1), ) and 1.704- 1.704-2(i)(5); and and (bB) Debit to such Capital Account the items described in Treasury Regulations Treas. Reg. Sections 1.704- 1.704-1(b)(2)(ii)(d)(4), (5), and ) through (6). The foregoing definition of “Adjusted Capital Account Deficit” Deficit is intended to comply with the provisions of Treasury Regulations Sections Treas. Reg. Section 1.704-1(b)(2)(ii)(d) and 1.704-2, and shall be interpreted consistently therewith.

Adjusted Capital Account Deficit. With respect to any Member, the The deficit balance, if any, in such Member’s Capital Account as of at the end of the relevant fiscal year after giving effect to any taxable year, with the following adjustments: (aA) Credit to such Capital Account any amounts which amount that such Member is deemed to be obligated to restore under Treas. Reg. Section 1.704‑1(b)(2)(ii)(c), as well as any addition thereto pursuant to Treasury Regulations the penultimate sentences of Treas. Reg. Sections 1.704‑2(g)(1) and 1.704-1(b)(2)(ii)(c), 1.704-2(g)(1), and 1.704- 2(i)(5); and (bB) Debit to such Capital Account the items described in Treasury Regulations Treas. Reg. Sections 1.704- 1(b)(2)(ii)(d)(4), (5), and 1.704‑1(b)(2)(ii)(d)(4) through (6). The foregoing definition of “Adjusted Capital Account Deficit” Deficit is intended to comply with the provisions of Treasury Regulations Sections Treas. Reg. Section 1.704-1(b)(2)(ii)(d) and 1.704-2, and shall be interpreted consistently therewith.