Common use of Tax Capital Accounts Clause in Contracts

Tax Capital Accounts. A Tax Capital Account for the Partnership shall be established for each Partner. The initial balance of each Partner’s Tax Capital Account shall be the amount of its initial capital contribution to the Partnership less any applicable upfront charges. Each Partner’s Tax Capital Account shall be increased by the amount of (i) any additional capital contribution and (ii) the allocation to the Partner of Partnership profit (or items thereof) as provided in subparagraph (e) hereof, and shall be decreased by the amount of (i) money distributed to the Partner and the fair market value of property distributed to the Partner (net of liabilities securing such distributed property), (ii) the allocations to the Partner of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code, and (iii) the allocations to the Partner of Partnership loss (or items thereof) as provided in subparagraph (e) hereof.

Tax Capital Accounts. A Tax Capital Account for the Partnership shall be established for each Partner. The initial balance of each Partner’s Tax Capital Account shall be the amount of its initial capital contribution to the Partnership less any applicable upfront chargesthe one-time administrative charge. Each Partner’s Tax Capital Account shall be increased by the amount of (i) any additional capital contribution and (ii) the allocation to the Partner of Partnership profit (or items thereof) as provided in subparagraph (e) hereof, and shall be decreased by the amount of (i) money distributed to the Partner by the Partnership and the fair market value of property distributed to the Partner by the Partnership (net of liabilities securing such distributed property), (ii) the allocations to the Partner of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code, and (iii) the allocations to the Partner of Partnership loss (or items thereof) as provided in subparagraph (ef) hereof.

Tax Capital Accounts. A Tax Capital Account for the Partnership shall be established for each Partner. The initial balance of each Partner’s 's Tax Capital Account shall be the amount of its initial capital contribution to the Partnership less any applicable upfront charges. Each Partner’s 's Tax Capital Account shall be increased by the amount of (i) any additional capital contribution and (ii) the allocation to the Partner of Partnership Partnereship profit (or items thereof) as provided in subparagraph (e) hereof, and shall be decreased by the amount of (i) money distributed to the Partner and the fair market value of property distributed to the Partner (net of liabilities securing such distributed property), (ii) the allocations to the Partner of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code, and (iii) the allocations to the Partner of Partnership loss (or items thereof) as provided in subparagraph (e) hereof.

Tax Capital Accounts. A Tax Capital Account for the Partnership shall be established for each Partner. The initial balance of each Partner’s 's Tax Capital Account shall be the amount of its initial capital contribution to the Partnership less any applicable upfront chargesthe one-time administrative charge. Each Partner’s 's Tax Capital Account shall be increased by the amount of (i) any additional capital contribution and (ii) the allocation allocations to the Partner of Partnership profit (or items thereof) as provided in subparagraph (ef) hereof, and shall be decreased by the amount of (i) money distributed to the Partner by the Partnership and the fair market value of property distributed to the Partner by the Partnership (net of liabilities securing such distributed property), (ii) the allocations to the Partner of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code, and (iii) the allocations to the Partner of Partnership loss (or items thereof) as provided in subparagraph (ef) hereof.