Negative Capital Account Balances. In the event that any Member shall have a deficit balance in his, her or its Capital Account, such Member shall have no obligation, during the term of the Company or upon dissolution or liquidation thereof, to restore such negative balance or make any Capital Contributions to the Company by reason thereof, except as may be required by applicable law.
Negative Capital Account Balances. If all items of Profit for a Fiscal Year or other period have been allocated in accordance with Section 8.1(a) and there remain items of Loss to be allocated, then such items of Loss will be allocated to the Members pro rata according to the number of Units held by each of them. If, prior to making any allocation of items of Profit or Loss for any Fiscal Year or other period, any Member has a negative Capital Account balance, then items of Profit will be allocated to all such Members, pro rata according to the amounts by which their respective Capital Account balances are less then zero, until no Member has a negative Capital Account balance.
Negative Capital Account Balances. If any member has a negative Capital Account after the liquidation of the Company, he shall not be obligated to contribute capital in the amount of such deficit.
Negative Capital Account Balances. If all items of profit for a Fiscal Year or other period have been allocated in accordance with Section 8.1(a) and there remain items of loss to be allocated, then such items of loss will be allocated to the Partners pro rata according to the number of Units held by each of them. If, prior to making any allocation of items of profit or loss for any Fiscal Year or other period, any Partner has a negative Capital Account balance, then items of profit will be allocated to all such Partners, pro rata according to the amounts by which their respective Capital Account balances are less then zero, until no Partner has a negative Capital Account balance.
Negative Capital Account Balances. Notwithstanding the other provisions of this Section 5.2, allocation of net Losses shall not be Bade to any Limited Partner if such allocation would result in such Limited Partner having a negative balance in its Capital Account in excess of the amount such Partner is required to restore on the liquidation of the Partnership (or of its interest in the partnership). For purposes of determining a Partner’s Capital Account balance (and the amount it is required to restore) in applying the provisions of this paragraph (h), the anticipated adjustments, allocations and distributions described in Treasury Regulation § 1.704-1(b) (2) (ii) (d)(4), (5) and (6) shall be taken into account, and each Partner shall be deemed obligated to restore its deficit Capital Account balance to the extent of its share of Partnership Minimum Gain and Partner Nonrecourse Minimum Gain, if any. Any amount that cannot be allocated hereunder will be allocated to the other Partner.
Negative Capital Account Balances. No Partner shall have any obligation to restore any negative balance in its Capital Account upon liquidation of the Partnership.
Negative Capital Account Balances. Members will have no obligation to restore any negative balance in their respective Capital Accounts.
Negative Capital Account Balances. No Member will have the obligation to contribute to the Company any amount in respect of such Member’s negative Capital Account balance.
Negative Capital Account Balances. If any Member has a deficit balance in his, her or its Capital Account (after giving effect to all contributions, distributions and allocations for all fiscal years, including the fiscal year during which such liquidation occurs), such Member shall have no obligation to make any contribution to the capital of the Company with respect to such deficit, and such deficit shall not be considered a debt owed to the Company or to any other Person for any purpose whatsoever.
Negative Capital Account Balances. Except as provided herein, a Partner with a negative balance in such Partner’s capital account shall not have any obligation to the Partnership or any Partner to eliminate such negative balance by contribution of capital to the Partnership or otherwise, and in no event shall any such negative balance constitute an asset of the Partnership.
