Members' Accounts and Withdrawals. An individual Capital Account shall be maintained for each Member in accordance with requirements of the Code and the Regulations promulgated thereunder. Except as provided in Section 8.12 below, no Member shall be entitled to withdraw or to make demand for withdrawal of any part of its Capital Account or to receive any distribution except as provided herein.
Members' Accounts and Withdrawals. An individual Capital Account shall be maintained for each Member in accordance with requirements of the Code and the Regulations promulgated thereunder for limited liability companies. It shall be credited initially with the amount of each Member's Capital Contribution and shall be increased by such Member's share of income and gain and any additional contributions at fair market value, decreased by such Member's share of distributions and losses, and increased and/or decreased by those other items required by the Code and the Regulations. No Member shall be entitled to withdraw or to make demand for withdrawal of any part of his or her Capital Account or to receive any distribution except as provided herein.
Members' Accounts and Withdrawals. AN INDIVIDUAL CAPITAL ACCOUNT SHALL BE MAINTAINED FOR EACH MEMBER IN ACCORDANCE WITH REQUIREMENTS OF THE CODE AND THE REGULATIONS PROMULGATED THEREUNDER. EXCEPT AS PROVIDED IN SECTION 8.12 BELOW, NO MEMBER SHALL BE ENTITLED TO WITHDRAW OR TO MAKE DEMAND FOR WITHDRAWAL OF ANY PART OF ITS CAPITAL ACCOUNT OR TO RECEIVE ANY DISTRIBUTION EXCEPT AS PROVIDED HEREIN.
