Restoration of Deficit Capital Account Balances. If any Partner has a deficit balance in its, his or her Capital Account (after giving effect to all contributions, distributions, and allocations for all Fiscal Years, including the year during which the liquidation occurs), then such Partner shall have no obligation to make any Capital Contribution with respect to such deficit, and such deficit shall not be considered a debt owed to the Partnership or to any other Person for any purpose whatsoever.
Appears in 7 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement (Oaktree Capital Group, LLC), Limited Partnership Agreement (Oaktree Capital Group, LLC)
Restoration of Deficit Capital Account Balances. If any Partner has a deficit balance in its, his or her such Partner’s Capital Account (after giving effect to all contributions, distributions, and allocations for all Fiscal Years, including the year during which the liquidation occurs), then such Partner shall have no obligation to make any Capital Contribution with respect to such deficit, and such deficit shall not be considered a debt owed to the Partnership or to any other Person for any purpose whatsoever.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Brookfield Oaktree Holdings, LLC), Limited Partnership Agreement (Oaktree Capital Group, LLC), Limited Partnership Agreement (Oaktree Capital Group, LLC)
Restoration of Deficit Capital Account Balances. If any Partner Member has a deficit balance in its, his or her its Capital Account (after giving effect to all contributions, distributions, distributions and allocations for all Fiscal Years, including the year during which the liquidation occurs), then such Partner Member shall have no obligation to make any Capital Contribution with respect to such deficit, and such deficit shall not be considered a debt owed to the Partnership Company or to any other Person for any purpose whatsoever.
Appears in 1 contract
Samples: Operating Agreement (Kb Home)
