Distributions, Deductions and Losses. Each Member's capital account shall be decreased by: (1) the amount of money distributed to that Member; (2) the fair market value at the time of distribution of all property other than money distributed to that Member, reduced by any liabilities secured by that property which are assumed or taken subject to by that Member; and (3) that Member's share of Company losses and deductions, including Company expenditures which are not deductible or capitalizable for federal income tax purposes, as computed for book purposes.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Fresh2 Group LTD), Limited Liability Company Agreement, Limited Liability Company Agreement (Miller Petroleum Inc)
Distributions, Deductions and Losses. Each Member's ’s capital account shall be decreased by: (1) the amount of money distributed to that Member; (2) the fair market value at the time of distribution of all property other than money distributed to that Member, if any, reduced by any liabilities secured by that property which are assumed or taken subject to by that Member; and (3) that Member's ’s share of Company losses and deductions, including Company expenditures which are not deductible or capitalizable for federal income tax purposes, as computed for book purposes.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (First Wind Holdings Inc.), Limited Liability Company Agreement (First Wind Holdings Inc.)
