Separate Capital Accounts. The Company shall maintain a separate Capital Account for each Member in accordance with the regulations promulgated under Section 704(b) of the Internal Revenue Code of 1986 as amended (the “Code”). The Capital Account shall reflect the Capital Contributions of each member.
Separate Capital Accounts. Each Partner shall have a separate Capital Account which shall be increased and decreased in accordance with Treasury Regulations §1.704-1(b)(2)(iv).
Separate Capital Accounts. The General Partner will maintain a separate capital account for each Partner and will credit the account of a Partner with such Capital Contribution and debit the account with the amount of Capital Contribution actually returned from time to time by the Partnership to the Partner. The interest of a Limited Partner will not terminate by reason of there being a negative or nil balance in the Limited Partner's account.
Separate Capital Accounts. A separate Capital Account shall be established and maintained for the General Partner and each Limited Partner.
Separate Capital Accounts. The Partnership maintains a separate Capital Account for each Partner relating to its respective Interest and, as contemplated by Section 4.8, may have one or more Sub-Accounts for the purpose of engaging in Hedging Transactions; provided, however, that if a Limited Partner makes a contribution of a Recontributed Amount to the Partnership prior to such Limited Partner’s Recovery Time, the Partnership will maintain a separate Capital Account for the Recontributed Amount (a “Recontribution Capital Account”). At the Recovery Time with respect to a Limited Partner’s Capital Account, the Partnership will combine such Limited Partner’s Capital Account and its Recontribution Capital Account into one single Capital Account.
Separate Capital Accounts. The Managing General Partner shall on receipt of an amount in respect of the Capital Contribution of a Partner, credit the capital account of such Partner with such amount. The Managing General Partner shall also credit to the capital account of each Partner the amount of all income and gains of the Partnership allocated to such Partner and shall debit the capital account of such Partner with the amount of all losses of the Partnership allocated to such Partner and the amount of any funds distributed from time to time by the Partnership to the Partner. The interest of a Partner shall not terminate by reason of there being a negative or nil balance in the Partner’s capital account. No Limited Partner shall be responsible for any losses of any other Partner, nor share in the income or, if applicable, allocation of tax deductible expenses attributable to any other Partner.
Separate Capital Accounts. 6.01 There shall be established on the books of the Limited Partnership under the heading Equity Capital a separate capital account for each Partner and each Partner shall be credited with the amount of its capital contributions to the Limited Partnership and debited with the amounts of distributions of capital. All allocations of Net Income or Net Loss, distributions to Partners and any Final Closing Preferred Credit shall be credited or debited to the capital account of those Partners holding Class M Units, Class K Common Units, Class K Preferred Units and Class E Activated Units for whom the allocation was made. No Partner shall be entitled to withdraw any part of its capital account or to receive any distribution or return of its capital contribution except as provided in this LP Agreement. Partners have no interest in such capital accounts unless otherwise specified herein. The interest of a Partner in the Limited Partnership shall not terminate by reason of a negative balance in its capital account. Initial Capital Contribution
Separate Capital Accounts. The General Partner will maintain a separate Capital Account for each Partner and, in the case of a Partner holding more than one Class, shall provide sufficient detail to identify the portion of such Capital Account that is attributable to each Class held by such Partner. The General Partner will, on receipt of an amount in respect of the Capital Contribution of a Partner, credit the account of such Partner with such amount and will debit the account with the amount of any funds distributed from time to time by Xxxxxx LP to the Partner as a return of capital. The interest of a Partner will not terminate by reason of there being a negative or nil balance in the Partner’s account. No Limited Partner will be responsible for any losses of any other Limited Partner, nor share in the income or allocation of tax deductible expenses attributable to the Units of any other Limited Partner. The General Partner may create Class specific Capital Accounts to separate the allocations attributable to the Underlying Property designated as to any specific Class from Willow LP’s other Classes.
Separate Capital Accounts. The General Partner will maintain a separate account (each, a “Capital Account”) for each Partner and will, on receipt of an amount in respect of the Committed Capital of a Partner, credit the account of such Partner with such amount and will debit the account with the amount of any funds distributed from time to time by the Partnership to the Partner as a return of capital. The interest of a Partner will not terminate by reason of there being a negative or nil balance in the Partner’s account. No Limited Partner will be responsible for any losses of any other Limited Partner, nor share in the income or allocation of tax deductible expenses attributable to the Units of any other Limited Partner.
Separate Capital Accounts. The General Partner will maintain a separate capital account for each Partner and will, on receipt of an amount in respect of a Capital Contribution, credit the account of the applicable Partner with such Capital Contribution and will debit the account with the amount of any Capital Contribution actually returned from time to time by the Partnership to the Partner. The interest of a Partner will not terminate by reason of there being a negative or nil balance in the Partner’s capital account. No Limited Partner shall be responsible for any losses of any other Limited Partner, nor share in the allocation of any cash distribution, income or loss attributable to the Units of any other Limited Partner.
