Transfer of Capital Accounts. The original Capital Account established for each transferee Series II Shareholder shall be in the same amount as the Capital Account of the Series II Shareholder (or portion thereof) to which such transferee Shareholder succeeds at the time of such transfer. The Capital Account of any Series II Shareholder whose interest in Series II shall be increased or decreased by means of the transfer of Shares shall have a corresponding adjustment to such Series II Shareholder’s Capital Account. Any reference in this Agreement to a Capital Contribution of or distribution to a Series II Shareholder that has succeeded to Shares in Series II of any other Series II Shareholder shall include any Capital Contributions or distributions previously made by or to the former Series II Shareholder on account of such Shares in Series II.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Apollo Asset Backed Credit Co LLC), Limited Liability Company Agreement (Apollo Asset Backed Credit Co LLC), Limited Liability Company Agreement (Apollo Asset Backed Credit Co LLC)
