Determination of Book Capital Account Balances and Net Income Sample Clauses

Determination of Book Capital Account Balances and Net Income. Except as otherwise provided in the authorizing resolution for a Series, it is the intention of the Board of Directors that the Partnership or, if Series are authorized, each Series shall be treated as a partnership for federal income tax purposes, and the Interests of the Partnership or each such Series shall possess the relative rights and privileges described in this Section 8. Notwithstanding any other provision in this Partnership Agreement to the contrary, the determination and maintenance of Book Capital Accounts (as hereinafter defined) and allocations of income or loss to each Investor of a Series shall be determined in accordance with the following special provisions:
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Determination of Book Capital Account Balances and Net Income. Except as may be otherwise provided in this Partnership Agreement or in the resolutions adopted by the Board of Directors in the establishment of a Series or Shares, it is the intention of the Board of Directors that the Fund or, if Series are authorized, each Series shall be treated as one or more separate partnership(s) for federal income tax purposes, and the Shares of the Fund or each such Series shall possess the relative rights and privileges described in this Article IX, Section 7. However, pursuant to Article III, Section 5, the Board of Directors reserves the right to treat the Fund or, if Series are authorized, each Series as a separate corporation and/or to make an election to be taxable as a RIC under Subchapter M of the Code for federal income tax purposes. Any changes in the tax treatment of an existing Series shall be effected only with the written consent of a majority of affected Investors. Notwithstanding any other provision in this Partnership Agreement to the contrary, the determination and maintenance of Book Capital Accounts (as hereinafter defined) and allocations of income or loss to each Investor of a Series shall be determined in accordance with the following special provisions:
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Determination of Book Capital Account Balances and Net Income. The determination and maintenance of Book Capital Accounts and allocations of income or loss to each Holder of the Trust (or series thereof) shall be determined in accordance with the following special provisions:
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Determination of Book Capital Account Balances and Net Income. Except as may be otherwise provided in the authorizing resolution for a Series, it is the intention of the Board of Directors that the Fund or, if Series are authorized, each Series shall be treated as one or more separate partnership(s) for federal income tax purposes, and the Shares of the Fund or each such Series shall possess the relative rights and privileges described in this Article VIII, Section 8. However, pursuant to Article II, Section 5, the Board of Directors reserves the right to treat the Fund or, if Series are authorized, each Series as a separate corporation and/or to make an election to be taxable as a RIC under Subchapter M of the Code for federal income tax purposes. Any changes in the tax treatment of an existing Series shall be effected only with the written consent of a majority of the affected Investors. Notwithstanding any other provision in this Partnership Agreement to the contrary, the determination and maintenance of Book Capital Accounts (as hereinafter defined) and allocations of income or loss to each Investor of a Series shall be determined in accordance with the following special provisions:
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Related to Determination of Book Capital Account Balances and Net Income

  • Book Capital Accounts The Book Capital Account balance of each Holder shall be adjusted each day by the following amounts:

  • Determination of Net Asset Value, Net Income and Distributions Subject to applicable federal law including the 1940 Act and Section 3.6 hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of the Trust or any Series or Class or net income attributable to the Shares of the Trust or any Series or Class, or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable. Without limiting the generality of the foregoing, but subject to applicable federal law including the 1940 Act, any dividend or distribution may be paid in cash and/or securities or other property, and the composition of any such distribution shall be determined by the Trustees (or by any officer of the Trust or any other Person or Persons to whom such authority has been delegated by the Trustees) and may be different among Shareholders including differences among Shareholders of the same Series or Class.

  • Adjustments to Capital Accounts At the end of each Fiscal Period, the Capital Accounts of the Partners shall be adjusted in the following manner:

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • Capital Account (a) There shall be established for each Member on the books of the Company a Capital Account in accordance with Section 704 of the Code and the Treasury Regulations promulgated thereunder.

  • Capital Contributions and Capital Accounts (a) The value of the interests contributed by the Class A Certificateholders and the Class I Certificateholders shall equal the amount paid by such Certificateholders for such interests, respectively, and such amounts shall constitute the opening balance in their Capital Accounts (as hereinafter defined). The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above. Such amount shall constitute the opening balance in the Class IC Certificateholder's Capital Account.

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

  • Determination of Net Asset Value The Trustees shall cause the Net Asset Value of Shares of each Series or Class to be determined from time to time in a manner consistent with applicable laws and regulations. The Trustees may delegate the power and duty to determine Net Asset Value per Share to one or more Trustees or officers of the Trust or to a custodian, depository or other agent appointed for such purpose. The Net Asset Value of Shares shall be determined separately for each Series or Class at such times as may be prescribed by the Trustees or, in the absence of action by the Trustees, as of the close of regular trading on the New York Stock Exchange on each day for all or part of which such Exchange is open for unrestricted trading.

  • Deficit Capital Accounts No Member will be required to pay to the Company, to any other Member or to any third party any deficit balance that may exist from time to time in the Member’s Capital Account.

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