Succession to Capital Accounts. In the event any Person becomes a Substitute Member in accordance with the provisions of this Agreement, such Substitute Member shall succeed to the Capital Account of the former Member (the “Transferor Member”) to the extent such Capital Account relates to the Transferred Units.
Succession to Capital Accounts. In the event any interest in the Partnership is Sold in accordance with the terms of this Agreement, the transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred interest. For purposes of the immediately preceding sentence, the portion of the Capital Account to which the transferee succeeds shall be that percentage of the transferor’s total Capital Account as the Percentage Interest being transferred bears to the total Percentage Interest of the transferor, taking into account Section 9.6.
Succession to Capital Accounts. In the event any Person becomes a Substitute Partner in accordance with the provisions of this Agreement, such Substitute Partner shall succeed to the Capital Account of the former Partner to the extent such Capital Account relates to the Transferred Units (as determined by the General Partner).
Succession to Capital Accounts. Subject to Section 11.4, in the event of a transfer of any Partnership Interest permitted herein, the Capital Account of the transferor Partner that is attributable to the transferred Partnership Interest shall be carried over to the transferee of such interest and adjusted as provided in the Regulations under Code section 704.
Succession to Capital Accounts. If any Person becomes a substituted Limited Partner in accordance with the provisions of Section 7.1, such substituted Limited Partner shall succeed to the relevant Capital Account(s) of the transferor Limited Partner to the extent such Capital Account(s) relate to the transferred Interest (or portion thereof).
Succession to Capital Accounts. In the event the Limited Partner transfers all, or any portion of its Interest in accordance with the terms of this Agreement, its transferee shall succeed to the capital account of the transferor to the extent that it relates to the transferred Interest or portion thereof.
