Transferee’s Capital Account. In the event a Member or the holder of an Economic Interest transfers an Interest 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.
Transferee’s Capital Account. In the event of a permitted transfer of a Company Interest as provided in this Agreement, the capital account of the transferor shall become the capital account of the transferee to the extent it relates to the transferred Company Interest.
Transferee’s Capital Account. In the event of a transfer of any Membership Units, the transferee shall assume the Capital Account balance of the transferor.
Transferee’s Capital Account. In the event that any Partner Transfers any Interest 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, adjusted for distributions of Available Cash and Net Liquidation Proceeds made pursuant to this Agreement and allocations of Net Profits or Net Losses as of the end of the month that includes the date of such transfer (the “Effective Date”). The books of the Partnership shall be closed in accordance with Section 706(d) of the Code and consistent therewith (a) Net Profits and Net Losses of the Partnership recognized as of the Effective Date shall be allocated among the Persons who or which were Partners prior to the Effective Date in accordance with their respective Percentage Interests prior to the Effective Date and (b) Net Profits and Net Losses recognized after the Effective Date shall be allocated among the Persons who or which were Partners after the Effective Date in accordance with their respective Percentage Interests after the Effective Date.
Transferee’s Capital Account. In the event that any Member transfers any Membership Interest 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 Membership Interest, adjusted for distributions of available cash made pursuant to this Agreement and allocations of Profits or Losses as of the end of the month that includes the date of such transfer. The books of the Company shall be closed in accordance with Section 706(d) of the Code.
Transferee’s Capital Account. In the event any Units in the Company are Transferred in accordance with the terms of this Article VIII, the transferee shall succeed to the Capital Account of the transferor to the extent that it relates to the Units so transferred. Section 8.04
Transferee’s Capital Account. In the event that any Member Transfers any Company Interest 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 Company Interest, adjusted for distributions of available cash made pursuant to this Agreement and allocations of income, gain, losses, deductions, credits and items thereof as of the end of the month that includes the date of such transfer (the "Effective Date"). The books of the Company shall be closed in accordance with Section 706(d) of the Code and consistent therewith (a) income, gain, losses, deductions, credits and items thereof of the Company recognized as of the Effective Date shall be allocated among the Persons who or which were Members prior to the Effective Date in accordance with their respective Percentage Interests prior to the Effective Date and (b) income, gain, losses, deductions, credits and items thereof recognized after the Effective Date shall be allocated among the Persons who or which were Members after the Effective Date in accordance with their respective Percentage Interests after the Effective Date.
Transferee’s Capital Account. In the event any Interest is transferred in accordance with the terms of this Agreement, the transferee succeeds to the Capital Account of the transferor to the extent such Capital Account relates to the transferred Interest as provided in Treasury Regulation ss.1.704-1(b)(2)(iv)(1). However, if the transfer causes a termination of the Company under Code ss.708(b)(1)(B), the Company's properties will, except for purposes of distributions made pursuant to Section 5, be deemed to have been distributed in liquidation of the Company to the Members (including the transferee of the Interest) and deemed recontributed by such Members and transferees in reconstitution of the Company.
Transferee’s Capital Account. The transferee of all or a portion of a Member's Percentage Interest shall succeed to the Capital Account of the transferor, to the extent that it relates to the Percentage Interest transferred.
