Common use of Subtractions From Capital Accounts Clause in Contracts

Subtractions From Capital Accounts. Subsequent to the opening Capital Account, a Partner’s Capital Account will be reduced by the following items: (a) Such Partner’s share of the Partnership’s realized and unrealized losses (including expenditures described in Code Section 705(a)(2)(B) or treated as an expenditure by reason of Treasury Regulation Section 1.704-1 (b)(2)); (b) The amount of cash and the fair market value of property distributed to such Partner (net of any liabilities assumed by such Partner or to which the distributed property is subject); and (c) Such other amounts that are required for the Capital Account to be determined and maintained in accordance with the Treasury Regulations.

Subtractions From Capital Accounts. Subsequent to the opening Capital Account, a Partner’s 's Capital Account will be reduced by the following items: (a) Such Partner’s 's share of the Partnership’s 's realized and unrealized losses (including expenditures described in Code Section 705(a)(2)(B) or treated as an expenditure by reason of Treasury Regulation Section 1.704-1 (b)(21(b)(2)); (b) The amount of cash and the fair market value of property distributed to such Partner (net of any liabilities assumed by such Partner or to which the distributed property is subject); and (c) Such other amounts that are required for the Capital Account to be determined and maintained in accordance with the Treasury Regulations.

Subtractions From Capital Accounts. Subsequent to the opening Capital Account, a Partner’s Capital Account will be reduced by the following items: (a) Such Partner’s share of the Partnership’s realized and unrealized losses (including expenditures described in Code Section 705(a)(2)(B) or treated as an expenditure by reason of Treasury Regulation Section 1.704-1 (b)(21(b)(2)); (b) The amount of cash and the fair market value of property distributed to such Partner (net of any liabilities assumed by such Partner or to which the distributed property is subject); and (c) Such other amounts that are required for the Capital Account to be determined and maintained in accordance with the Treasury Regulations.