No Capital Accounts Sample Clauses

No Capital Accounts. Since the Partnership becomes a disregarded entity at the effective time of this Agreement, no capital accounts will be maintained for the Partners except as required by the Act.
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No Capital Accounts. The Company shall not maintain capital accounts for any Member. Membership Fees shall be accounted for by the Company as ordinary revenues.

Related to No Capital Accounts

  • Capital Accounts The Company will maintain a Capital Account for each Member on a cumulative basis in accordance with federal income tax accounting principles.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

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