Shareholders' Accounts Clause Samples

The 'Shareholders' Accounts' clause defines how the financial accounts related to each shareholder are maintained and managed within a company. Typically, this clause outlines the procedures for recording each shareholder's contributions, distributions, and any changes in share ownership, ensuring that all financial transactions affecting shareholders are accurately tracked. By establishing clear rules for the maintenance and review of these accounts, the clause helps prevent disputes over ownership and entitlements, thereby promoting transparency and accountability among shareholders.
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Shareholders' Accounts. Any amounts owed by Shareholders to the Company, as set forth on Schedule 2.1.19, shall have been paid to the --------------- Company, and any amounts owed by the Company to its shareholders, as set forth in Schedule 2.1.19, shall have been canceled, and there shall be no other --------------- amounts receivable from or payable to the Shareholders by the Company, other than for compensation for the current pay period coming due in the ordinary course of business; provided, however, that (i) the $28,412 payable to the Company from ▇▇▇▇ ▇▇▇▇▇▇▇▇ and the $14,674 payable to the Company from ▇▇▇▇ ▇▇▇▇▇▇▇▇ arising from the Company's payment of the premium on life insurance owned by each such Individual Shareholder on the life of the other Individual Shareholder need not be repaid to the Company; and (ii) Buyer shall have no obligation to make any further premium payments on such insurance policies or to make any payments to the Individual Shareholders in respect of the federal income tax payable by the Individual Shareholders arising from such premium payments by the Company.
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Shareholders' Accounts. Any amounts owed by Shareholders to the Company, as set forth on Schedule 2.1.19, shall have been paid to the Company, and any amounts owed by the Company to its shareholders, as set forth in Schedule 2.1.19, shall have been canceled, and there shall be no other amounts receivable from or payable to the Shareholders by the Company, other than for compensation for the current pay period coming due in the ordinary course of business.
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Shareholders' Accounts. On the Closing Date, NECG shall purchase from each Seller, at the Loan Purchase Price, the Shareholder's Account (if any) that each such Seller has extended to the Company, in accordance with the loan purchase agreement substantially in the form attached as Exhibit 2.1(c) (the "Loan Purchase Agreement").
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Shareholders' Accounts. The Authorized Members shall maintain separate capital and distribution accounts for each Managing Member. Each Managing Member’s capital account shall be determined and maintained in the manner set forth in Treasury Regulation 1.704-l(b)(2)(iv) and shall consist of his initial capital contribution increased by: (a) any additional capital contribution made by him/her; (b) credit balances transferred from his distribution account to his capital account; and decreased by: (a) distributions to him/her in reduction of Company capital; (b) the Managing Member’s share of Company losses if charged to his/her capital account.
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Related to Shareholders' Accounts

  • Shareholder Accounts The proportionate allocation of expenses based upon the number of each Fund’s shareholder accounts and transaction activity in those accounts, measured over a period of time, relative to the total number of shareholder accounts and transaction activity in those accounts for all Funds receiving number of portfolio transactions for all Funds receiving services from the Service Company during such period.

  • MEMBER'S ACCOUNTS The Member will maintain separate capital and distribution accounts. The Member's capital account will be determined and maintained in the manner set forth in Treasury Regulation 1.704-1(b)(2)(iv), each capital account will consist of the Member’s initial capital contribution: (a) increased by: i. Any additional capital contribution made by the Member; ii. Credit balances transferred from the Member’s distribution account to his or her capital account; and (b) decreased by: i. Distributions to the Member in reduction of Company capital; ii. The Member's share of Company losses if charged to his or her capital account.

  • Cash Accounts The Custodian will open and maintain in the name of the Client one or more cash deposit accounts (each a “Cash Account”) in such currencies as may be required in connection with the investment activity of the Client.

  • Designated Accounts The Collection Account, the Note Distribution Account and the Reserve Account, collectively. Determination Date: The tenth day of each calendar month, or if such tenth day is not a Business Day, the next succeeding Business Day. Discount Rate: 0.00% per annum.

  • Management Accounts To the extent that it owns any Management Account (including any lock-box related thereto), each Guarantor shall comply with Section 5.1 of the Base Indenture with respect to each such Management Account (including any lock-box related thereto).