Capital Accounts of the Members. A separate Capital Account shall be maintained for each Member in accordance with the Code and the Regulations thereunder. Capital Accounts will be: 3.9.1. Increased by: (i) the amount of any money the Member contributes to the Company"s capital; (ii) the fair market value of any property the Member contributes to the Company"s capital, net of any liabilities the Company assumes or to which the property is subject; and (iii) the Member"s share of Profits and any separately stated items of income or gain; and 3.9.2. Decreased by: (i) the amount of any money the Company distributes to the Member; (ii) the fair market value of any property the Company distributes to the Member, net of any liabilities the Member assumes or to which the property is subject; and (iii) the Member"s share of Losses and any separately stated items of deduction or loss.
Appears in 1 contract
Samples: Operating Agreement
Capital Accounts of the Members. A separate Capital Account shall be maintained for each Member in accordance with the Code and the Regulations thereunder. Capital Accounts will be:
3.9.1. Increased by: (i) the amount of any money the Member contributes to the Company"s Company's capital; (ii) the fair market value of any property the Member contributes to the Company"s Company's capital, net of any liabilities the Company assumes or to which the property is subject; and (iii) the Member"s Member's share of Profits and any separately stated items of income or gain; and
3.9.2. Decreased by: (i) the amount of any money the Company distributes to the Member; (ii) the fair market value of any property the Company distributes to the Member, net of any liabilities the Member assumes or to which the property is subject; and (iii) the Member"s Member's share of Losses and any separately stated items of deduction or loss.
Appears in 1 contract
Samples: Operating Agreement
Capital Accounts of the Members. A separate Capital Account shall be maintained for each Member in accordance with the Code and the Regulations thereunder. Capital Accounts will be:
3.9.13.8.1. Increased by: (i) the amount of any money the Member contributes to the Company"s Company’s capital; (ii) the fair market value of any property the Member contributes to the Company"s Company’s capital, net of any liabilities the Company assumes or to which the property is subject; and (iii) the Member"s Member’s share of Profits and any separately stated items of income or gain; and
3.9.23.8.2. Decreased by: (i) the amount of any money the Company distributes to the Member; (ii) the fair market value of any property the Company distributes to the Member, net of any liabilities the Member assumes or to which the property is subject; and (iii) the Member"s Member’s share of Losses and any separately stated items of deduction or loss.
Appears in 1 contract
Samples: Operating Agreement