Deficit Capital Account Restoration. (a) Subject to Section 13.4(b), if an Original Limited Partner listed on Schedule 13.4(a) (who constituted an "Electing Partner" of Branch and is referred to hereinafter as an "Electing Partner") and any Additional Limited Partner who elects to be added to such Schedule (also an "Electing Partner"), on the date of the "liquidation" of his respective interest in the Partnership (within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g)), has a negative balance in his Capital Account, then such Electing Partner shall contribute in cash to the capital of the Partnership the lesser of (i) the maximum amount (if any such maximum amount is stated) listed beside such Electing Partner's name on Schedule 13.4(a) or (ii) the amount required to increase his Capital Account as of such date to zero. Any such contribution required of a Partner hereunder shall be made on or before the later of (i) the end of the Partnership fiscal year in which the interest of such Partner is liquidated or (ii) the ninetieth (90th) day following the date of such liquidation. Notwithstanding any provision hereof to the contrary, all amounts so contributed by a partner to the capital of the Partnership shall, upon the liquidation of the Partnership under this Article 13, be first paid to any then creditors of the Partnership, including Partners that are Partnership creditors (in the order provided in Section 13.2(a)), and any remaining amount shall be distributed to the other Partners then having positive balances in their respective Capital Accounts in proportion to such positive balances.
Deficit Capital Account Restoration. Except as provided in the last sentence of Section 3.9 hereof, no Member shall have any obligation to make Additional Capital Contributions to the Company in order to restore any deficit Capital Account balance upon liquidation of the Company or liquidation of such Member's Interest in the Company.
Deficit Capital Account Restoration. Except as otherwise provided herein, Members shall not be obligated to restore any negative capital account or contribute any amounts to the Company in respect of any negative capital account, nor shall any Member be liable for any of the debts, losses, liabilities or obligations of the Company beyond such Member's capital contributions. Members shall not be obligated to restore any reduction in their own capital account.
Deficit Capital Account Restoration. Upon dissolution of the Partnership, the Partners shall pay cash to the Partnership in the amount of any negative balances in their respective Capital Accounts after taking into account all capital account adjustments for the Partnership taxable year during which such liquidation occurs (including the allocation of any unrealized Profit or Loss). The cash contributed pursuant to the preceding sentence shall be applied first to pay any debts and obligations of the Partnership and then to be distributed to Partners with positive Capital Account balances.
Deficit Capital Account Restoration. If, upon the dissolution and liquidation of the Company, after crediting all income upon sale of the Company's assets that have been sold, and after making the allocations provided for in Section 9.4.1 , any Member has a negative capital account, such Member shall not be obligated to contribute to the Company an amount equal to the negative capital account.
Deficit Capital Account Restoration. 64 Section 13.5
Deficit Capital Account Restoration. A. Subject to Section 13.10B, if a Class A Limited Partner listed on Schedule Section 13.10A (an “Electing Partner”) has a negative balance in his Capital Account on the date of the “liquidation” of his interest in the Partnership (within the meaning of Regulations Section 1.704-l(b)(2)(ii)(g) but excluding a constructive liquidation resulting from a tax termination of the Partnership under Section 708(b)(1)(B) of the Code)), then such Electing Partner shall contribute in cash to the capital of the Partnership the lesser of (i) the maximum amount (if any such maximum amount is stated) listed beside such Electing Partner’s name on Schedule Section 13.10A or (ii) the amount required to increase his Capital Account as of such date to zero. Any such contribution required of a Partner hereunder shall be made on or before the later of (i) the end of the Partnership Year in which the interest of such Partner is liquidated or (ii) the ninetieth (90th) day following the date of such liquidation. Notwithstanding any provision hereof to the contrary, all amounts so contributed by a Partner to the capital of the Partnership shall, upon the liquidation of the Partnership under this Article 13, be first paid to any then creditors of the Partnership, including Partners that are Partnership creditors (in the order provided in Section 13.2A), and any remaining amount shall be distributed to the other Partners then having positive balances in their respective Capital Accounts in proportion to such positive balances.
Deficit Capital Account Restoration. (a) Subject to Section 13.4(b), if an Original Limited Partner listed on Schedule 13.4(a) (who constituted an "Electing Partner" of Branch and is referred to hereinafter as an "Electing Partner"), on the date of the "liquidation" of his respective interest in the Partnership (within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g)), has a negative balance in his Capital Account, then such Electing Partner shall contribute in cash to the capital of the Partnership the lesser of (i) the maximum amount (if any such maximum amount is stated) listed beside such Electing Partner's name on Schedule 13.4(a) or (ii) the amount required to increase his Capital Account as of such date to zero. Any such contribution required of a Partner hereunder shall be made on or before the later of (i) the end of the Partnership fiscal year in which the interest of such Partner is liquidated or (ii) the ninetieth (90th) day following the date of such liquidation. Notwithstanding any provision hereof to the contrary, all amounts so contributed by a partner to the capital of the Partnership shall, upon the liquidation of the Partnership under this Article 13, be first paid to any then creditors of the Partnership, including Partners that are Partnership creditors (in the order provided in Section 13.2(a)), and any remaining amount shall be distributed to the other Partners then having positive balances in their respective Capital Accounts in proportion to such positive balances.
Deficit Capital Account Restoration. Notwithstanding anything to the contrary contained in this Agreement, a General Partner with a deficit in such General Partner's Capital Account following the liquidation of such General Partner's interest in the Partnership pursuant to Section 13.3 hereof, after taking into account all Capital Account adjustments provided for in Article V for the Taxable Year during which such liquidation occurs (other than those made on account of this Section 13.4), shall restore the amount of such deficit to the Partnership by the end of such Taxable Year (or, if later, within ninety days after the date of such liquidation), which amount shall be distributed to the other Partners in accordance with such other Partners' positive Capital Account balances, if any, or paid to the creditors of the Partnership.
Deficit Capital Account Restoration. (a) In no event shall any Limited Partner be required to restore a negative Capital Account balance and no Limited Partner shall have any liability to the Partnership, to any other Partner or to the creditors of the Partnership on account of any deficit balance in such Limited Partner’s Capital Account.
