Interest on and Return of Capital Accounts Sample Clauses

Interest on and Return of Capital Accounts. No Partner shall be entitled to any interest from the Partnership on such Partner’s capital account or on such Partner’s contributions to the capital of the Partnership and, except as otherwise provided herein, no Partner shall have the right to demand or to receive the return of all or any part of such Partner’s capital account or of such Partner’s contributions to the capital of the Partnership.
Sample 1Sample 2Sample 3See All (84)
AutoNDA by SimpleDocs
Interest on and Return of Capital Accounts. No Partner shall be entitled to any interest from the Partnership on such Partner’s capital account or on such Partner’s contributions to the capital of the Carrabba’s/Mid Atlantic-I, Limited Partnership 3 Partnership and, except as otherwise provided herein, no Partner shall have the right to demand or to receive the return of all or any part of such Partner’s capital account or of such Partner’s contributions to the capital of the Partnership.
Sample 1See All (29)
Interest on and Return of Capital Accounts. No Partner shall be entitled to any interest from the Partnership on such Partner’s capital account or on such Partner’s contributions to the capital of the Partnership and, except as otherwise provided herein, no Partner shall have the right to demand or to receive the return of all or any part of such Partner’s capital account or of such Partner’s contributions to the capital of the Partnership. Outback Steakhouse International, L.P. 2
Sample 1See All (10)
Interest on and Return of Capital Accounts. No Member shall be entitled to any interest from his Capital Account or on his Capital Contribution and, except as otherwise provided herein, no Member shall have the right to demand or to receive the return of all or any part of his Capital Account or of his Capital Contributions.
Sample 1
Interest on and Return of Capital Accounts. Except as set forth in the next succeeding sentence, no Member shall be entitled to any interest from his Capital Account or on its Capital Contribution and, except as otherwise provided herein, no Member shall have the right to demand or to receive the return of all or any part of his Capital Account or of his Capital Contributions. Notwithstanding the preceding sentence, the initial cash Capital Contribution by JV Partner shall be entitled to a preferred return accruing on the balance of such contribution remaining unexpended by the LLC, from time to time, at a rate equal to the "Overnight Repurchase Rate" as set forth in The Wall Street Journal (to be set for each calendar quarter on the first business day of such calendar quarter), until such amount is fully expended by the LLC in accordance with the provisions of this Agreement. The preferred return accruing from time to time on such unexpended balance shall be disbursed quarterly on the last business day at each calendar quarter by the LLC to the JV Partner by remittance of a check drawn on the operating account of the LLC payable as the JV Partner may direct from time to time.
Sample 1
Interest on and Return of Capital Accounts. No Holder will be entitled to receive any interest on its Capital Contributions or its Capital Account. Further, no Holder will have the right to demand or receive a return of its Capital Contributions or Capital Account, except as specifically provided for in this Agreement.
Sample 1

Related to Interest on and Return of Capital Accounts

  • Interest on and Return of Capital Contributions No Member shall be entitled to interest on its Capital Contribution or to return of its Capital Contribution, except as otherwise specifically provided for herein.

  • Limitations on Return of Capital Contributions Notwithstanding any of the provisions of this Article 5, no Partner shall have the right to receive and the General Partner shall not have the right to make, a distribution that includes a return of all or part of a Partner’s Capital Contributions, unless after giving effect to the return of a Capital Contribution, the sum of all Partnership liabilities, other than the liabilities to a Partner for the return of his Capital Contribution, does not exceed the fair market value of the Partnership’s assets.

  • Transfer of Capital Accounts The original Capital Account established for each substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) to which such substituted Member succeeds, at the time such substituted Member is admitted to the Company. The Capital Account of any Member whose interest in the Company shall be increased or decreased by means of the transfer of Shares. Any reference in this Agreement to a Capital Contribution of or distribution to a Member that has succeeded any other Member shall include any Capital Contributions or distributions previously made by or to the former Member on account of its Shares.

  • Maintenance of Capital Accounts The Company shall maintain a Capital Account for each Member on the books of the Company in accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv) and, to the extent consistent with such provisions, the following provisions:

  • Composition of Capital Accounts A separate capital account shall be maintained by the Partnership for each Partner in accordance with Section 704(b) of the Internal Revenue Code of 1986, as amended (the “Code”), and Treasury Regulations promulgated thereunder. There shall be credited to each Partner’s capital account (i) the amounts of money contributed by the Partner to the Partnership, (ii) the fair market value of property contributed by the Partner to the Partnership (net of liabilities secured by such contributed property that the Partnership is considered to assume or take subject to under Section 752 of the Code), and (iii) allocations to the Partner of Partnership income and gain (or items thereof), including income and gain exempt from tax, as computed for book purposes, in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv)(g), as set forth pursuant to Section 5.5 of this Agreement. Each Partner’s capital account shall be decreased by (i) the amount of money distributed to the Partner by the Partnership, (ii) the fair market value of property distributed to the Partner by the Partnership (net of liabilities secured by such distributed property that such Partner is considered to assume or take subject to pursuant to Section 752 of the Code), (iii) allocations to such Partner of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code, and (iv) allocations of Partnership loss and deduction (or items thereof), including loss or deduction, computed for book purposes, as described in Treasury Regulation Section 1.704-1(b)(2)(iv)(g), as set forth pursuant to Section 5.5 of this Agreement. If the General Partner also acquires a Limited Partnership Interest in the Partnership, it shall nonetheless have a single capital account that reflects both its interest as a General Partner and its interest as a Limited Partner. If a Partner owns more than one Partnership Interest, such Partner shall nonetheless have a single capital account that reflects all Partnership Interests of such Partner.

  • Return of Capital Contributions No Partner shall be entitled to withdraw any part of its Capital Contribution or its Capital Account or to receive any distribution from the Partnership, except as specifically provided in this Agreement. Except as otherwise provided herein, there shall be no obligation to return to any Partner or withdrawn Partner any part of such Partner’s Capital Contribution for so long as the Partnership continues in existence.

  • Priority and Return of Capital Except as may be provided in this Agreement, no Member shall have priority over any other Member, either as to the return of Capital Contributions or as to profits, losses or distributions; provided that this Section shall not apply to loans (as distinguished from Capital Contributions) that a Member has made to the Company.

  • Return of Capital Contribution From time to time the Partnership may have cash in excess of the amount required for the conduct of the affairs of the Partnership, and the General Partner may, with the Consent of the Special Limited Partner, determine that such cash should, in whole or in part, be returned to the Partners, pro rata, in reduction of their Capital Contribution. No such return shall be made unless all liabilities of the Partnership (except those to Partners on account of amounts credited to them pursuant to this Agreement) have been paid or there remain assets of the Partnership sufficient, in the sole discretion of the General Partner, to pay such liabilities.

  • Status of Capital Contributions (a) No Member shall receive any interest, salary or drawing with respect to its Capital Contributions or its Capital Account, except as otherwise specifically provided in this Agreement.

  • Profits and Losses Distributions The Member shall treat all of the profits and losses of the Company as its own. All distributions shall be made to the Member at times and in amounts determined by the Member or the Board of Managers. The Company shall not make distributions to the Member if such distribution would violate Section 18-607 of the Act.

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