Allocation of Organizational Expenses. (a) As of the first Expense Allocation Date, Organizational Expenses shall be allocated among and debited against the Capital Accounts of the Members in accordance with their respective Capital Percentages on such Expense Allocation Date. (b) As of each Expense Allocation Date following the first Expense Allocation Date, all amounts previously debited against the Capital Account of a Member pursuant to this Section 5.11 on the preceding Expense Allocation Date will be credited to the Capital Account of such Member, and Organizational Expenses then shall be re-allocated among and debited against the Capital Accounts of all Members in accordance with their respective Capital Percentages on such Expense Allocation Date. ________________________________________
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Pw Redwood Fund LLC), Limited Liability Company Agreement (Pw Sequoia Fund LLC)
Allocation of Organizational Expenses. (a) As of the first Expense Allocation Date, Organizational Expenses shall be allocated among and debited against the Capital Accounts of the Members in accordance with their respective Capital Percentages on such Expense Allocation Date.
(b) As of each Expense Allocation Date following the first Expense Allocation Date, all amounts previously debited against the Capital Account of a Member pursuant to this Section 5.11 5.9 on the preceding Expense Allocation Date will be credited to the Capital Account of such Member, and Organizational Expenses then shall be re-allocated among and debited against the Capital Accounts of all Members in accordance with their respective Capital Percentages on such Expense Allocation Date. ________________________________________------------------------------------------------------------------------------
Appears in 1 contract
Samples: Limited Liability Company Agreement (Db Absolute Return Fund LLC)
Allocation of Organizational Expenses. (a) As of the first Expense Allocation Date, Organizational Expenses shall be allocated among and debited against the Capital Accounts of the Members in accordance with their respective Capital Fund Percentages on such Expense Allocation Date.
(b) As of each Expense Allocation Date following the first Expense Allocation Date, all amounts previously debited against the Capital Account of a Member pursuant to this Section 5.11 5.9 on the preceding Expense Allocation Date will be credited to the Capital Account of such Member, and Organizational Expenses then shall be re-allocated among and debited against the Capital Accounts of all Members in accordance with their respective Capital Fund Percentages on such Expense Allocation Date. ________________________________________--------------------------------------------------------
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Db Hedge Strategies Fund LLC)
