Capital Accounts; Opening Capital Account Balance Sample Clauses

Capital Accounts; Opening Capital Account Balance. A Capital Account shall be established for each Partner on the books of the Partnership as of the first day of the Accounting Period in which the Partner is admitted as a Partner. The Capital Account balance as of the first day of the Accounting Period in which such Partner is admitted to the Partnership shall be the amount of such Partner’s Capital Contribution as of such date, subject to any adjustments pursuant to Section 3.5 hereof. The opening Capital Account balance as of the beginning of each Accounting Period after the Accounting Period in which such Partner is admitted to the Partnership shall be an amount equal to (i) the closing Capital Account balance of such Partner for the immediately preceding Accounting Period (determined in accordance with Section 4.2 hereof), decreased by (ii) the amount of any withdrawals made by the Partner effective as of the end of the immediately preceding Accounting Period, and decreased by (iii) the amount of the distributions made to the Partner pursuant to Section 6.4 hereof during the immediately preceding Accounting Period, and increased by (iv) the amount of any additional Capital Contribution made by such Partner pursuant to Section 3.2 hereof effective as of the beginning of such Accounting Period.
Sample 1
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Capital Accounts; Opening Capital Account Balance. (a) Upon the issuance of Units to any Member, the Managing Member shall establish a separate capital account ("Capital Account") representing its investment in the Units of such Class of the Fund. The initial balance of each Member's Capital Account shall be the amount of its initial Capital Contribution to the Fund.
Sample 1

Related to Capital Accounts; Opening Capital Account Balance

  • Deficit Capital Accounts No Member will be required to pay to the Company, to any other Member or to any third party any deficit balance that may exist from time to time in the Member’s Capital Account.

  • Capital Account (a) There shall be established for each Member on the books of the Company a Capital Account in accordance with Section 704 of the Code and the Treasury Regulations promulgated thereunder.

  • Deficit Capital Account Upon the dissolution of the Company, any Member having a deficit balance in its Capital Account shall contribute to the Company the amount of cash or other assets (at their fair market value) necessary to bring the balance of such Member's Capital Account to zero after taking into account all allocations required by the regulations under Section 704(b) of the Code and all distributions of cash and other assets.

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

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

  • 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 Accounts Allocations There shall be established in respect of each Holder a separate capital account in the books and records of the Up-MACRO Holding Trust in respect of the Holder's Capital Contributions to the Up-MACRO Holding Trust (each, a "Capital Account"), to which the following provisions shall apply:

  • 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.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

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

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