DETERMINATION OF BALANCES. Except as otherwise provided in this Exhibit, whenever it is necessary to determine the Capital Account of any Member, the Capital Account of that Member shall be determined after giving effect to all allocations of Net Profits and Net Losses of the Company for the current year (including a portion thereof) as well as all distributions for such year in respect of transactions effected prior to the date such determination is to be made.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (CBL/Regency I, LLC), Limited Liability Company Agreement (CBL & Associates Properties Inc)
DETERMINATION OF BALANCES. Except as otherwise provided in this Exhibit, whenever it is necessary to determine the Capital Account of any Member, the Capital Account of that Member shall be determined after giving effect to all allocations of Net Profits and Net Losses of the Company Member Newco for the current year (including a portion thereof) as well as all distributions for such year in respect of transactions effected prior to the date such determination is to be made.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (CBL & Associates Properties Inc), Master Transaction Agreement (CBL & Associates Properties Inc)
