Two Positive Memorandum Account Balances Sample Clauses

Two Positive Memorandum Account Balances. If at any time there shall ---------------------------------------- exist a Positive Memorandum Account Balance with respect to a Member, and the other Member then makes a Discretionary Capital Contribution such that the second Member would also have a Positive Memorandum Account Balance, then the following clauses (1) through (3) shall apply, and the Positive Memorandum Account Balances of all Members shall be deemed netted out in accordance therewith. For purposes of the following, the Positive Memorandum Account Balances shall be deemed netted out in accordance with clauses (1) through (3) below immediately following creation of the Positive Memorandum Account Balance for the second Member:
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Related to Two Positive Memorandum Account Balances

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