Capital Accounts of Transferees Sample Clauses

Capital Accounts of Transferees. A Transferee of an interest in the Company shall succeed to the Capital Account attributable to such interest, and there shall be no adjustment to the Capital Accounts as a result of such Transfer and the Capital Account of a Transferee shall thereafter be increased and decreased in the same manner as the Capital Account of a Member. Notwithstanding the foregoing sentence, if the Transfer causes a termination of the Company pursuant to Section 708(b)(1)(B) of the Code, the assets ofthe Company shall be deemed to have been distributed to the Members (including such Transferee) in liquidation of the Company and re-contributed by such Members and Transferees in reconstitution of the Company. Following such deemed reconstitution the Capital Accounts of the Company shall be maintained in accordance with the principles of this ARTICLE.
Sample 1
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Capital Accounts of Transferees. A transferee of an interest in the Company shall succeed to the Capital Account attributable to the interest, and there shall be no adjustment to the Capital Accounts as a result of the transfer.
Sample 1
Capital Accounts of Transferees. A transferee of an interest in the Partnership shall succeed to the Capital Account attributable to such interest, and there shall be no adjustment to the Capital Accounts as a result of such transfer; provided, however, that in the event the Partnership makes an election under Section 754 of the Code, appropriate adjustments pursuant to such Section shall be made to the Capital Account of each Partner affected by such election; provided further, that if the transfer causes a termination of the Partnership pursuant to Section 708(b)(1)(B) of the Code, the assets of the Partnership shall be deemed to have been distributed to the Partners (including such transferee) in liquidation of the Partnership pursuant to Article XX and recontributed by such Partners in reconstitution of the Partnership. The Capital Accounts of the Partnership following such deemed reconstitution shall be maintained in accordance with the principles of this Section 8.3.
Sample 1
Capital Accounts of Transferees. A transferee of an interest in the Company shall succeed to the Capital Account attributable to the interest, and there shall be no adjustment to the Capital Account as a result of the Transfer; provided, however, that if the Transfer causes a deemed termination of the Company pursuant to Section 708(b)(1)(B) of the Code, the assets of the Company shall be deemed to have been distributed to the Members (including the transferee) in liquidation of the Company and recontributed by the Members in reconstitution of the Company. The Capital Accounts of the Company following the deemed reconstitution shall be maintained in accordance with the principles of this Section 10.02.
Sample 1

Related to Capital Accounts of Transferees

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

  • Book Capital Accounts The Book Capital Account balance of each Holder shall be adjusted each day by the following amounts:

  • Capital Accounts of the Partners A. The Partnership shall maintain for each Partner a separate Capital Account in accordance with the rules of Regulations Section l.704-l(b)(2)(iv). Such Capital Account shall be increased by (i) the amount of all Capital Contributions and any other deemed contributions made by such Partner to the Partnership pursuant to this Agreement and (ii) all items of Partnership income and gain (including income and gain exempt from tax) computed in accordance with Section 1.B hereof and allocated to such Partner pursuant to Section 6.1 of the Agreement and Exhibit C thereof, and decreased by (x) the amount of cash or Agreed Value of all actual and deemed distributions of cash or property made to such Partner pursuant to this Agreement and (y) all items of Partnership deduction and loss computed in accordance with Section 1.B hereof and allocated to such Partner pursuant to Section 6.1 of the Agreement and Exhibit C thereof.

  • Capital Contributions and Capital Accounts (a) The value of the interests contributed by the Class A Certificateholders and the Class I Certificateholders shall equal the amount paid by such Certificateholders for such interests, respectively, and such amounts shall constitute the opening balance in their Capital Accounts (as hereinafter defined). The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above. Such amount shall constitute the opening balance in the Class IC Certificateholder's Capital Account.

  • Capital Accounts The Company will maintain a Capital Account for each Member on a cumulative basis in accordance with federal income tax accounting principles.

  • Adjustments to Capital Accounts At the end of each Fiscal Period, the Capital Accounts of the Partners shall be adjusted in the following manner:

  • Allocations for Capital Account Purposes For purposes of maintaining the Capital Accounts and in determining the rights of the Partners among themselves, the Partnership’s items of income, gain, loss and deduction (computed in accordance with Section 5.5(b)) for each taxable period shall be allocated among the Partners as provided herein below.

  • Capital Accounts and Allocations (a) CAPITAL ACCOUNTS. A separate capital account (a "Capital Account") shall be established and maintained for each Member, which shall initially be equal to the Capital Contribution of such Member as set forth on Schedule A hereto. Such Capital Accounts shall be maintained in accordance with Section 1.704-1(b)(2)(iv) of the Treasury Regulations, and this Section 5.2 shall be interpreted and applied in a manner consistent with said Section of the Treasury Regulations. The Capital Accounts shall be maintained for the sole purpose of allocating items of income, gain, loss and deduction among the Members and shall have no effect on the amount of any distributions to any Members in liquidation or otherwise. The amount of all distributions to Members shall be determined pursuant to Sections 5.3, 5.4 and 5.5.

  • Capital Contributions; Percentage Interest The Members shall make contributions to the Company in an amount approved by the Members. No Member shall be required or permitted to make any additional contributions without the consent of all of the Members. The percentage interest of each Member in the Company shall be as set forth in the books and records of the Company, as amended from time to time by Managing Member consent.

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