Capital Accounts Profits and Losses Sample Clauses

Capital Accounts Profits and Losses. Distributions 10 7.1 Capital Accounts 10 7.2 Allocation of Profits and Losses 10 7.3 Distributions 11 7.4 Other Allocations 11 7.5 Share of Excess Nonrecourse Liabilities 14
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Capital Accounts Profits and Losses. (a) A single, separate capital account (a "Capital Account") shall be maintained for each Partner. Each Partner's Capital Account shall be credited with the amount of money and the fair market value of property (net of any liabilities assumed by the Partnership or to which the contributed property is subject) contributed by that Partner to the Partnership; the amount of any Partnership liabilities assumed by such Partners (other than in connection with a distribution of Partnership property), and such Partner's allocation of Partnership profits. Each Partner's Capital Account shall be debited with the amount of money and the fair market value of property (net of any liabilities that such Partner assumes or takes subject to) distributed to such Partner, the amount of any liabilities of such Partner assumed by the Partnership (other than in connection with a contribution), and such Partner's distributive share of Partnership losses.
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Capital Accounts Profits and Losses. 4.1 Capital Accounts 3 4.2 Profits and Losses 4 4.3 Profit Entitlement 4 ARTICLE 5 - PARTNERSHIP PROPERTY 5.1 Partnership Property 4 5.2 Partnership Share of Assets and Liabilities 4
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Capital Accounts Profits and Losses. 4.1 Capital Accounts A Capital Account shall be established and maintained for each Partner on the books of the Partnership. Each Partner's Capital Account as of any relevant date shall be the amount of his initial Partnership Capital as set forth on Exhibit "A" hereto, (i) increased by the amount of money, or the fair market value of property, contributed as additional Partnership Capital, if any, made from time to time by such Partner, (ii) increased by such Partner share of Partnership profits, (iii) decreased by the amount of money withdrawn by such Partner by the Partnership, (iv) decreased by the fair market value of property distributed to such Partner by the Partnership (net of liabilities secured by such distributed property), and (v) decreased by allocations to such Partner of Partnership losses, expenses and deductions. Exhibit "A" may be amended from time to time by the Partners by unanimous consent to reflect the foregoing. 4.2 Profits and Losses Each Partner shall be entitled or shall bear such Partner's share of all Partnership items of profits, losses, deductions, expenses, credit or allowance, if any, for any period or year pro rata in accordance with the Partner's respective Percentage of Partnership Interests. 4.3 Profit Entitlement To the fullest extent permitted by law, each Partner shall, upon request by such Partner, be entitled to withdraw within 10 business days his entitlement to his share of the accumulated Partnership profit. In the event that the Partnership has a net loss the Partner shall, upon request by the Partnership, be obliged within 10 business days to make good his share of the accumulated Partnership loss, such request coming from the Partnership.
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Capital Accounts Profits and Losses. Distributions 10 4.1 Capital Accounts 10 4.2 Profits and Losses 11 4.3 Distributions 11
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Capital Accounts Profits and Losses 
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Related to Capital Accounts Profits and Losses

  • Profits and Losses For financial accounting and tax purposes, the Company’s net profits or net losses shall be determined on an annual basis in accordance with the manner determined by the Board. In each year, profits and losses shall be allocated entirely to the Member.

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • 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.

  • Allocations of Profits and Losses Except as otherwise provided in this Agreement, Profits and Losses (and, to the extent necessary, individual items of income, gain or loss or deduction of the Partnership) shall be allocated in a manner such that the Capital Account of each Partner after giving effect to the Special Allocations set forth in Section 5.05 is, as nearly as possible, equal (proportionately) to (i) the distributions that would be made pursuant to Article IV if the Partnership were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Partnership liabilities were satisfied (limited with respect to each non-recourse liability to the Carrying Value of the assets securing such liability) and the net assets of the Partnership were distributed to the Partners pursuant to this Agreement, minus (ii) such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. For purposes of this Article V, each Unvested Unit shall be treated as a Vested Unit. Notwithstanding the foregoing, the General Partner shall make such adjustments to Capital Accounts as it determines in its sole discretion to be appropriate to ensure allocations are made in accordance with a partner’s interest in the Partnership.

  • 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:

  • Profits and Losses Distributions Until the admission of additional Members, the Original Member shall be entitled to all allocations of LLC profits and losses and to allocations of distributions.

  • Net Losses After giving effect to the special allocations set forth in Section 6.1(d), Net Losses for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Losses for such taxable period shall be allocated as follows:

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • 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.

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