Common use of Book Capital Accounts Clause in Contracts

Book Capital Accounts. A capital account (the "Book Capital --------------------- ------------ Account") for each Partner shall be maintained at all times during the term of ------- the Partnership in accordance with this Section 1.2 and the capital accounting rules set forth in Section ----------- ------- 1.704-1(b)(2)(iv) and in Section 1.704-2 of the Regulations. In the event that ----------------- --------------- at any time during the term of the Partnership it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section ------- 1.2, then said accounts shall be retroactively adjusted so that the same shall --- conform to this Section 1.2. -----------

Appears in 2 contracts

Samples: Limited Partnership Agreement (Hanover Compressor Co /), Limited Partnership Agreement (Hanover Compressor Co /)

AutoNDA by SimpleDocs

Book Capital Accounts. A capital account (the "Book Capital --------------------- ------------ Account") for each Partner shall be maintained at all times during the term of ------- the Partnership in accordance with this Section 1.2 and the capital accounting rules set forth in Section ----------- ------- 1.704-1(b)(2)(iv) and of the Income Tax Regulations, as the same may be amended from time to time ("Regulations"). The Partnership shall make all adjustments required by said Section 1.704-1(b)(2)(iv), including, without limitation, the adjustments contained in Section 1.704-2 1(b)(2)(iv)(g) of the RegulationsRegulations (relating to "Section 704(c) Property", as defined in Section 2.3B(1) of this Exhibit "B"). In the event that ----------------- --------------- at any time during the term of the Partnership it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section ------- 1.2, then said accounts shall be retroactively adjusted so that the same shall --- conform to this Section 1.2. -----------.

Appears in 1 contract

Samples: Limited Partnership Agreement (Ridgewood Properties Inc)

AutoNDA by SimpleDocs

Book Capital Accounts. A capital account (the "β€œBook Capital --------------------- ------------ Account"”) for each Partner shall be maintained at all times during the term of ------- the Partnership in accordance each Partner shall be maintained at all times during the term of the Partnership in accordance with this Section 1.2 and the capital accounting rules set forth in Section ----------- ------- 1.704-1(b)(2)(iv) and in Section 1.704-2 of the Regulations. In the event that ----------------- --------------- at any time during the term of the Partnership it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section ------- 1.2, then said accounts shall be retroactively adjusted so that the same shall --- conform to this Section 1.2. -----------.

Appears in 1 contract

Samples: Limited Partnership Agreement (EES Leasing, LLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!