Contributions, Income and Gains. Each Member's capital account shall be increased by: (1) the amount of money contributed by that Member; (2) the fair market value at the time of contribution of all property other than money contributed by that Member, reduced by any liabilities secured by that property which are assumed or taken subject to by the Company; and (3) that Member's share of Company income and gains, including income and gains which are exempt from or not recognized for federal income tax purposes, as computed for book purposes; and
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Fresh2 Group LTD), Limited Liability Company Agreement, Limited Liability Company Agreement (Miller Petroleum Inc)
Contributions, Income and Gains. Each Member's ’s capital account shall be increased by: (1) the amount of money contributed by that Member; (2) the fair market value at the time of contribution of all property other than money contributed by that Member, if any, reduced by any liabilities secured by that property which are assumed or taken subject to by the Company; and (3) that Member's ’s share of Company income and gains, including income and gains which are exempt from or not recognized for federal income tax purposes, as computed for book purposes; and
Appears in 2 contracts
Samples: Limited Liability Company Agreement (First Wind Holdings Inc.), Limited Liability Company Agreement (First Wind Holdings Inc.)
