Common use of Determination of Balance in Capital Accounts Clause in Contracts

Determination of Balance in Capital Accounts. Except as otherwise provided in this Agreement, whenever it is necessary to determine the Capital Account balance of any Partner for purposes of Sections 7 or 8, the Capital Account of the Partner shall be determined after giving effect to all adjustments provided for in Subsection 5.2 for the current Fiscal Year in respect of transactions effected prior to the date with respect to which such determination is to be made.

Appears in 12 contracts

Samples: Limited Partnership Agreement, Limited Partnership Agreement (UHS of Timberlawn, Inc.), Limited Partnership Agreement (UHS of Timberlawn, Inc.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!