Modified Negative Capital Account. The deficit balance of a Capital Account in excess of the portion of the deficit the Member is deemed obligated to restore pursuant to Code Section 704(b) and applicable Regulations.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Lilli Ann LLC), Limited Liability Company Agreement (Lilli Ann LLC), Limited Liability Company Agreement (Lilli Ann LLC)
Modified Negative Capital Account. The deficit balance of a Capital Account in excess of the portion amount of the deficit deficit, if any, a Member is obligated to contribute to the Member Company under the Agreement or is deemed obligated to restore pursuant to the Code Section 704(b) and applicable Regulations.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Dynex Capital Inc)
