Decrease in Capital Accounts Sample Clauses

Decrease in Capital Accounts. Each Member’s Capital Account shall be decreased by: (1) the amount of any cash distributed to the Member by the Company; (2) the fair market value of any property distributed to the Member (net of liabilities of the Company assumed by the Member or subject to which the Member takes such property within the meaning of Section 752 of the Code) at the time of the distribution; and (3) the Member’s share of Net Losses and of any separately allocated items of deduction or loss.

Decrease in Capital Accounts. Each Member’s Capital Account shall be decreased by (1) the amount of any cash distributed to the Member by the Company; (2) the Gross Asset Value of any property distributed to the Member (net of liabilities of the Company assumed by the Member or subject to which the Member takes such property within the meaning of Section 752 of the Code) at the time of the distribution; (3) the Member’s share of Losses and of any separately allocated items of deduction or loss (including any loss or deduction allocated to the Member to reflect the difference between the book value and tax basis of assets contributed by the Member); and (4) the amount of any liabilities of such Member that are assumed by the Company, other than assumed liabilities described in Section 5.1(a)(2).