Debits and Credits to Capital Accounts Sample Clauses

Debits and Credits to Capital Accounts. Capital Accounts will be credited for capital contributed to a JV Company or capital transferred to a Shareholder from another Shareholder consequent upon an Ownership Interest adjustment made in accordance with this Article 3. Capital Accounts will be debited for any capital returned or repaid to a Shareholder or transferred from one Shareholder to another Shareholder consequent upon an Ownership Interest adjustment made in accordance with this Article 3. No debits or credits will be recorded to the Capital Accounts consequent upon operating activities of a JV Company including asset impairment charges. The Capital Accounts shall together reflect the aggregate capital contributed to the Joint Venture by all the members of each Participating Group less the amounts, if any, which have been returned to Shareholders. The total of the Capital Accounts in respect of such Participating Group is the “Aggregate Capital Account” of such Participating Group. Capital Accounts may be credited subsequent to the Effective Date by way of Share Subscription, Capital Contribution or Shareholder Loans or other form of funding approved by the XxxXx Board by Special Majority Decision (collectively, “Group Funding”).
Sample 1
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Related to Debits and Credits to Capital Accounts

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

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

  • Omnibus Accounts The Custodian may hold Foreign Securities and related Proceeds with one or more Foreign Sub-custodians or Eligible Securities Depositories in each case in a single account with such Sub-custodian or Securities Depository that is identified as belonging to the Custodian for the benefit of its customers; provided however, that the records of the Custodian with respect to Securities and related Proceeds that are property of the Company maintained in such account(s) shall identify by book-entry those Securities and other property as belonging to the Company.

  • Deposits to Special Accounts Except as otherwise provided in the Lock-Box Agreement, the Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to any Lock-Box Account cash or cash proceeds other than Collections in respect of the Collateral.

  • 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:

  • 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).

  • Set Up Accounts (a) Bank shall establish and maintain the following accounts ("Accounts"):

  • 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 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.

  • Omnibus Account The parties agree that, with respect to each Fund, a single omnibus account held in the name of the Nominee shall be maintained for those Plan assets directed for investment directly in the Fund, and a single omnibus account held in the name of ING Life shall be maintained for those Plan assets directed for investment in the Fund through the Contracts (collectively, the "Accounts.") ING Life as issuer of the Contracts or as service agent for the Plans, shall facilitate purchase and sale transactions with respect to the Accounts in accordance with the Agreement.

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