Common use of Transfer of Capital Account Clause in Contracts

Transfer of Capital Account. The original Capital Account established for each transferee shall be in the same amount as the Capital Account or portion thereof of the Member which such transferee succeeds, at the time such transferee is admitted to the Venture. The Capital Account of any Member whose Percentage Interest shall be increased by means of the Transfer to it of all or part of the Interest of another Member shall be appropriately adjusted to reflect such Transfer. Any reference in this Agreement to a Capital Contribution of, or distribution to, a then-Member shall include a Capital Contribution or distribution, as the case may be, previously made by or to any prior Member on account of the Interest of such then-Member.

Transfer of Capital Account. The original Capital Account established for each transferee shall be in the same amount as the Capital Account or portion thereof of the Member Partner which such transferee succeeds, at the time such transferee is admitted to the VenturePartnership. The Capital Account of any Member Partner whose Percentage Interest shall be increased by means of the Transfer to it of all or part of the Interest of another Member Partner shall be appropriately adjusted to reflect such Transfer. Any reference in this Agreement to a Capital Contribution of, or distribution to, a then-Member then‑Partner shall include a Capital Contribution or distribution, as the case may be, distribution previously made by or to any prior Member Partner on account of the Interest of such then-Memberthen‑Partner.

Transfer of Capital Account. The original Capital Account established for each transferee shall be in the same amount as the Capital Account or portion thereof of the Member which such transferee succeeds, at the time such transferee is admitted to the Venture. The Capital Account of any Member whose Percentage Interest shall be increased by means of the Transfer to it of all or part of the Interest of another Member shall be appropriately adjusted to reflect such Transfer. Any reference in this Agreement to a Capital Contribution of, or distribution to, a then-Member then‑Member shall include a Capital Contribution or distribution, as the case may be, previously made by or to any prior Member on account of the Interest of such then-Memberthen‑Member.

Transfer of Capital Account. The original Capital Account established for each transferee shall be in the same amount as the Capital Account or portion thereof of the Member for such Project which such transferee succeeds, at the time such transferee is admitted to the Venture. The Capital Account of any Member whose Percentage Interest with respect to a Project shall be increased by means of the Transfer to it of all or part of the Interest of another Member with respect to such Project shall be appropriately adjusted to reflect such Transfer. Any reference in this Agreement to a Capital Contribution of, or distribution to, a then-Member shall include a Capital Contribution or distribution, as the case may be, previously made by or to any prior Member on account of the Interest of such then-Member.