Common use of Decreased by Clause in Contracts

Decreased by. (A) All distributions, whether of the capital or income, to or for the account of the Member (other than payments received by the Member in repayment of any loan); (B) The Member's share of losses of the Company determined during each fiscal year pursuant to this Agreement; and (C) The agreed fair market value of any property (less liabilities assumed by the Member) distributed by the Company to the Member. The foregoing provisions are intended to comply with the provisions contained in Treasury Regulations 1.704-1(b)(2)(iv) under the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), and capital accounts shall be maintained in accordance with these provisions.

Decreased by. (A) All distributions, whether of the capital or income, to or for the account of the Member Partner (other than payments received by the Member Partner in repayment of any loan); (B) The MemberPartner's share of losses of the Company Partnership determined during each fiscal year pursuant to this Agreement; and (C) The agreed fair market value of any property (less liabilities assumed by the MemberPartner) distributed by the Company Partnership to the MemberPartner. The foregoing provisions are intended to comply with the provisions contained in Treasury Regulations 1.704-1(b)(2)(iv) under the Internal Revenue Code of 1986, as amended (the "Internal Revenue Code"), and capital accounts shall be maintained in accordance with these provisions.