Capital Accounts Allocations. A separate capital account (singly, a "Capital Account"; collectively, the "Capital Accounts"), shall be established and maintained for each Member. As of any date, the amount of a Member's Capital Account shall be adjusted and any allocations of the Company's income, gain, loss, deductions, or credits (or items thereof) shall be determined and made as hereinafter provided and in accordance with the Company's records and, to the extent consistent herewith, applicable provisions of the Virginia Limited Liability Company Act as it may be amended or superseded from time to time (the "Act"):
Appears in 18 contracts
Samples: Operating Agreement (Northland Holdings Management Inc), Operating Agreement (Northland Holdings Management Inc), Operating Agreement (Central Michigan Distribution Co Lp)
