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.
Capital Contributions Capital Accounts. 7 2.1 Initial Capital Contributions...............................................................7 2.2 Additional Capital Contributions; Additional Units..........................................7 2.3
Capital Contributions Capital Accounts. The Member shall make capital contributions to the Company from time to time, in cash, securities or other property, in amounts and at time as determined by the Member, and in proportion to its Membership Interests. A capital account shall be maintained for the Member in accordance with Treasury Regulations Section 1.794-1(b)(2)(iv).
Capital Contributions Capital Accounts. 16 5.1 Capital Contributions 16 5.2 Additional Capital Contributions. Additional Capital Units 16 5.3 Return of Contributions 16
Capital Contributions Capital Accounts. No member will be obligated to make any capital contribution to the Company except for any capital contribution agreed upon by all members. Each member will be obligated to contribute the member’s proportionate share (based on percentage interests) of any contribution approved by all of the members. If any member fails to contribute the amount agreed upon to be contributed by each member, in addition to the right of the Company to pursue all remedies available at law or in equity against the defaulting member, any member making such member’s contribution pursuant to such agreement may either withdraw the amount then contributed or elect to treat the same as a loan to the Company bearing interest at the prime rate as reported in The Wall Street Journal on the date contributed to the Company plus 5%. Any such loan shall be repaid by the Company before the Company makes any distributions to the members. No member may otherwise withdraw any capital contribution without the unanimous consent of the members. No member shall have personal liability for the repayment of any capital contribution of any other member. The Company’s accountant shall maintain a separate capital account for each member. No member shall be entitled to any interest on the balance in the member’s capital account.
Capital Contributions Capital Accounts. Section 2.1. Initial Capital Contributions. OMAM made an initial Capital Contribution to the Company on December 31, 2007 of $1,250,000,000, plus (a) the amount of Segregated Client Mandated Capital as of such date ($32,000,000) and (b) the Excess Working Capital Amount.
Capital Contributions Capital Accounts. Subject to the terms and conditions thereof and this Section 2.02, (a) in connection with the transactions contemplated by the PSPA, LUK-HRG as of the date hereof owns the number of Preferred Units set forth on Schedule 2.02 and has the deemed Capital Contributions set forth on Schedule 2.02 hereto and (b) pursuant to the PSPA, the Master Fund owns the number of Common Units set forth on Schedule 2.02 and has the deemed Capital Contributions set forth on Schedule 2.02 hereto. A capital account shall be maintained for each Member.
Capital Contributions Capital Accounts. (a) Each of the Members entering into this Agreement as of the date hereof has contributed to the Company on the date hereof, in cash, the amount set forth opposite such Member's name on Schedule II for the LLC Interest set forth opposite such Member's name on Schedule II.
(b) A separate capital account shall be maintained on the books of the Company for each Member, which shall be adjusted (1) as of March 31 of each year, (2) immediately prior to the acquisition of any LLC Interest by any Person or any change in the LLC Interest of any Person, (3) immediately prior to the date of dissolution of the Company and (4) at such times as the Board of Managers shall determine, as follows:
(i) the amount of money and the fair market value (as determined by the Board of Managers in good faith) of property (net of any liabilities secured by such property that the Company assumes or takes subject to) contributed by such Member to the Company shall be credited to such Member's capital account;
(ii) the amount of any distributions (including the fair market value (as determined by the Board of Managers in good faith) of property other than cash (net of any liabilities that such Member assumes or takes subject to)) distributed to such Member shall be debited from such Member's capital account;
(iii) Net Profits earned by the Company since the last date on which Net Profits or Net Losses shall have been allocated to the Members shall be credited to the Members' capital accounts as follows:
(A) first, to reverse the allocations of Net Losses provided for in Section 6(b)(iv); and
(B) next, ratably based upon the LLC Interests of the Members; and
(iv) Net Losses incurred by the Company since the last date on which Net Losses or Net Profits shall have been allocated to the Members shall be debited to the Members' capital accounts, ratably based upon the LLC Interests of the Members; provided, that at such time as a Member's capital account shall be reduced to zero (0) such Member shall be excluded from the allocations made pursuant to this Section 6(b)(iv) until such time as such Member's capital account has a positive balance.
(c) Notwithstanding any provision of this Agreement to the contrary, each Member's capital account shall be maintained and adjusted in accordance with the Internal Revenue Code, including (i) the adjustments permitted or required by Internal Revenue Code Section 704(b) and, to the extent applicable, the principles expressed in Internal Revenue Code Se...
Capital Contributions Capital Accounts. (A) The capital contributions with which the Partnership shall commence business is $275,000. Each of the Partners has contributed to the capital of the Partnership, in cash, the sum set forth opposite his name on Exhibit A.
(B) A single capital account (the "Capital Account") shall be established for each Partner on the books of the Partnership.
(C) The Capital Account established for any Partner shall be maintained in accordance with the rules set forth in Section 704 of the Code and the Treasury Regulations promulgated thereunder. In the event that the General Partners determine that it is prudent to modify the manner in which Capital Accounts, or any credits or charges thereto are computed in order to comply with such provisions, they may make such modification, provided it is not likely to have a material effect on the amounts distributable to any Partner upon dissolution of the Partnership pursuant to Article 20 ("Distributions After Termination").
(D) The Initial Gross Asset Value of all Partnership assets shall be adjusted to their respective gross fair market values (taking Section 7701(g) of the Code into account) as of the following times: (i) the acquisition of an additional interest in the Partnership by any new or existing Partner in exchange for more than a DE MINIMIS amount of money or other property; (ii) the distribution by the Partnership to a Partner of more than a DE MINIMIS amount of money or other property as consideration for an interest in the Partnership; (iii) the liquidation of the Partnership within the meaning of Section 1.704-1(b)(2)(ii)(g) of the Treasury Regulations; and (iv) any other time to the extent required by Section 704(b) of the Code and the Treasury Regulations promulgated thereunder.
(E) The Gross Asset Values of any asset distributed to a Partner by the Partnership shall be adjusted to the gross fair market value (taking Section 7701(g) of the Code into account) of such asset on the distribution date, as determined by the General Partners.
(F) If a Partner transfers all or part of his Partnership interest or any part thereof in accordance with Article 11 ("Restrictions on Transfers"), then such Partner's Capital Account (or the portion thereof attributable to the transferred interest) shall carry over to the transferee.
Capital Contributions Capital Accounts. (a) The provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Treasury Regulations Section 1.704-1(b), and shall be interpreted and applied in a manner consistent with such Treasury Regulations.
(b) Notwithstanding any provision of this Agreement to the contrary, it is the intention of the Members that allocations be made in accordance with Schedule D attached to the Agreement. To the extent the Company is required, for any reason, to deviate from such allocations, the Managing Member shall allocate, whenever possible, amounts of the Company's Net Profit or Net Loss to the Members so that, after such allocations are made, each Member's Capital Account balance is, to the extent possible, equal to the Capital Account balance such Member would have had if the allocations made pursuant to paragraph 2(a) hereof were not part of this Agreement and all Company items were allocated pursuant to this Schedule D.
