Xxxxxxx Accounts. A separate Capital Account shall be maintained for each Member as set forth in Article 2 of Appendix A. The initial Capital Account of each Member shall be as reflected on Appendix B.
Xxxxxxx Accounts. A separate account (each, a “Capital Account”) shall be established and maintained for each Member which shall be increased by (i) the amount of cash and the fair market value, as determined by the Manager, of any other property contributed by such Member to the Company as a Capital Contribution (net of liabilities secured by such property or that the Company is considered to assume or take the property subject to pursuant to Code Section 752) and (ii) such Member’s share of the Net Profit of the Company, and the Capital Account shall be reduced by (i) the amount of cash and the fair market value, as determined by the Manager, of any other property distributed to such Member (net of liabilities secured by such property or that the Member is considered to assume or take the property subject to pursuant to Code Section 752) and (ii) such Member’s share of the Net Loss of the Company. It is the intention of the Members that the Capital Accounts of the Company be maintained in accordance with the provisions of Section 704(b) of the Code and the Regulations thereunder and that this Agreement be interpreted consistently therewith.
Xxxxxxx Accounts. The Company shall establish and maintain a separate Capital Account for each Member and for each permitted transferee of a Membership Interest. The Capital Account of each permitted transferee of a Membership Interest shall initially be equal to the Capital Account of the transferor as of the effective date of the Transfer.
Xxxxxxx Accounts. Your account will be considered dormant if you have not transacted business in your account for a period of two years. If your account becomes dormant, it will be subject to a dormant account fee in addition to any other applicable account fees. The Bank reserves the right to withhold any payment, withdrawal, or transfer from a dormant account until the Bank, to its sole and complete satisfaction, is able to reestablish contact with the owner of the dormant account. You agree to keep your account in active status. Under applicable law, we may be required to turn over to appropriate state authorities any funds held in the account if, for at least five (5) years, the account has been “inactive” as defined by Florida law. Prior to doing so, the Bank will mail a notice to your last known address. If you do not respond by the date set forth for response in the notice, we will forward the funds in the account to the appropriate state agency. You can retrieve the funds by contacting the appropriate state agency at the address set forth in the notice.
Xxxxxxx Accounts. Assets in your Account may be subject to state and federal law regarding abandoned and unclaimed property. If there is no activity in your Account (other than periodic interest payments or similar transactions initiated by us) for a prolonged period, as determined by the law of the relevant state (typically the state listed as your Account statement address in our records), your Account may be deemed abandoned, in which case we will turn over the Account Assets in your Account to the appropriate state authority, as required under applicable law. Unless we have previously determined that we do not have valid contact information for you, we will generally attempt to contact you prior to the expiration of the relevant unclaimed property law so that you may claim the account. To the extent permitted by applicable law, we will deduct from your Account any reasonable expenses we incur in attempting to contact you and, as necessary, in remitting the Account to the state once it has been deemed abandoned. Without limiting any other provision of this Agreement, once we have turned over your abandoned Account Assets to the relevant state authority, we will have no further obligation to you with respect to the Account, and you must apply to the relevant state authority to reclaim your property.
Xxxxxxx Accounts. Funds, securities and/or other property held in any dormant account may, under applicable state law, escheat to the state, meaning the state will take possession of the property. Generally, the laws of the state of your last known residence or domicile will apply in determining whether an account is dormant. State laws vary as to the circumstances under which an account will be considered dormant.
Xxxxxxx Accounts. 11 3.0.Xx Requirement to Restore Negative Capital Account.11 3.0.Xxxxx by Members.11 3.0.Xx Reliance by Creditors.12 3.10.Issuance of Additional Membership Interests.12
Xxxxxxx Accounts. A. The Partners shall make an initial investment of capital, whether in cash or property, contemporaneously with the execution of this Agreement. Such cash and/or property contributions of each Partner are attached to this Agreement as Exhibit "A." In addition to each Partner's share of the profits and losses of the Partnership, as set forth in Section 5, each Partner is entitled to an interest in the assets of the Partnership.
Xxxxxxx Accounts. Agency shall be entitled to a rate of eighteen point fifty percent (18.5%) of the total amount collected on all primary placements of Accounts. Agency shall be entitled to a rate of eighteen point fifty percent (18.5%) of the total amount collected on all secondary placements.
Xxxxxxx Accounts. There shall be maintained a capital account in the name of each Partner. Any increase or decrease in the value of the Partnership on any valuation date shall be credited or debited, respectively, to each Partner's capital account on that date. Any other method of valuating each Partner's capital account may be substituted for this method, provided the substituted method results in exactly the same valuation as previously provided herein. Each Partner's contribution to, or capital withdrawal from, the Partnership shall be credited or debited, respectively, to that Partner's capital account.
