Common use of Deficit Capital Accounts at Liquidation Clause in Contracts

Deficit Capital Accounts at Liquidation. It is understood and agreed that one purpose of the provisions of this Section 8 is to insure that none of the Members has a deficit Capital Account balance after liquidation and to insure that all allocations under this Section 8 will be respected by the Internal Revenue Service. The Members and the Company neither intend nor expect that any Member will have a deficit Capital Account balance after liquidation; and, notwithstanding anything to the contrary in this Agreement, the provisions of this Agreement shall be construed and interpreted to give effect to such intention. However, if following a liquidation of a Member's interest as determined under Treasury Regulation Section 1.704- 1(b)92)(ii)(g), a Member has a deficit balance in such Member's Capital Account after the allocation of Net Income pursuant to this Section 8 and Section 16.3 and all other adjustments have been made to such Member's Capital Account for Company operations and liquidation, no Member shall have any obligation to restore such deficit balance. 9.

Deficit Capital Accounts at Liquidation. It is understood and agreed that one purpose of the provisions of this Section 8 Exhibit E is to insure that none of the Members has a deficit Capital Account balance after liquidation and to insure that all allocations under this Section 8 Exhibit E will be respected by the Internal Revenue Service. The Members and the Company neither intend nor expect that any Member will have a deficit Capital Account balance after liquidation; liquidation and, notwithstanding anything to the contrary in this Agreement, the provisions of this Agreement shall be construed and interpreted to give effect to such intention. However, if following a liquidation of a Member's ’s interest as determined under Treasury Regulation Section 1.704- 1(b)92)(ii)(g1.704-1(b)(2)(ii)(g), a Member has a deficit balance in such Member's ’s Capital Account after the allocation of Net Income pursuant to this Section 8 and Section 16.3 Exhibit E and all other adjustments have been made to such Member's ’s Capital Account for Company operations and liquidation, no Member shall have any obligation to restore such deficit balance. 9.

Deficit Capital Accounts at Liquidation. It is understood and agreed that one purpose of the provisions of this Section 8 7 is to insure that none of the Members has a deficit Capital Account balance after liquidation and to insure that all allocations under this Section 8 7 will be respected by the Internal Revenue Service. The Members and the Company neither intend nor expect that any Member will have a deficit Capital Account balance after liquidation; liquidation and, notwithstanding anything to the contrary in this Agreement, the provisions of this Agreement shall be construed and interpreted to give effect to such intention. However, if following a liquidation of a Member's interest as determined under Treasury Regulation Section 1.704- 1(b)92)(ii)(g1.704-1(b)(2)(ii)(g), a Member has a deficit balance in such Member's Capital Account after the allocation of Net Income pursuant to this Section 8 7 and Section 16.3 12 and all other adjustments have been made to such Member's Capital Account for Company operations and liquidation, no Member shall have any obligation to restore such deficit balance. 9.

Deficit Capital Accounts at Liquidation. It is understood and agreed that one purpose of the provisions of this Section 8 is to insure that none of the Members has a deficit Capital Account balance after liquidation and to insure that all allocations under this Section 8 will be respected by the Internal Revenue Service. The Members and the Company neither intend nor expect that any Member will have a deficit Capital Account balance after liquidation; and, notwithstanding anything any thing to the contrary in this Agreement, the provisions of this Agreement shall be construed and interpreted to give effect to such intention. However, if following a liquidation of a Member's interest as determined under Treasury Regulation Section 1.704- 1(b)92)(ii)(g), a Member has a deficit balance in such Member's Capital Account after the allocation of Net Income pursuant to this Section 8 and Section 16.3 and all other adjustments have been made to such Member's Capital Account for Company operations and liquidation, no Member shall have any obligation to restore such deficit balance. 9.