Calculation of Capital Account. Whenever it is necessary to determine the Capital Account of any Shareholder, the Capital Account of such Shareholder shall be determined in accordance with the rules of Regulation Sections 1.704-1 (b) (2) (iv) and 1.704-2 (as amended from time to time). If necessary to comply with the Code, an adjusted Capital Account may be employed.
Appears in 6 contracts
Samples: Operating Agreement (Ridgewood Energy L Fund LLC), LLC Operating Agreement (Ridgewood Energy K Fund LLC), Operating Agreement (Ridgewood Energy M Fund LLC)
Calculation of Capital Account. Whenever it is necessary to determine the Capital Account of any Shareholder, the Capital Account of such Shareholder shall be determined in accordance with the rules of Regulation Sections 1.704-1 (b) (2) (iv1(b)(2)(iv) and 1.704-2 (as amended from time to time). If necessary to comply with the Code, an adjusted Capital Account may be employed.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Ridgewood Energy v Fund LLC), Limited Liability Company Agreement (Ridgewood Energy T Fund LLC), Limited Liability Company Agreement (Ridgewood Energy Q Fund LLC)
Calculation of Capital Account. Whenever it is necessary to determine the Capital Account of any Shareholder, the Capital Account of such Shareholder shall be determined in accordance with the rules of Regulation Sections 1.704-1 (b1(b) (2) (iv) and 1.704-2 (as 2(as amended from time to time). If necessary to comply with the Code, an adjusted Capital Account may be employed.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Ridgewood Energy O Fund LLC)
