Aggregate Capital Account definition

Aggregate Capital Account has the meaning set forth in Section 3.3(c).
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Aggregate Capital Account means, with respect to any Member, the sum of such Member’s Capital Accounts. In the event that all of the Capital Accounts of a Member are negative, then all such Capital Accounts shall be added to produce a total deficit Aggregate Capital Account for such Member. A positive balance in any of the Capital Account(s) of a Member shall be offset with a negative balance in its other Capital Account(s) to produce either a positive or a negative Aggregate Capital Account, as the case may be. In the event any Interests are Transferred in accordance with the terms of this Agreement, the Transferee shall succeed to the Capital Account(s) of the Transferor to the extent such Capital Account(s) relate to the Transferred Interests.
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Aggregate Capital Account means, with respect to any Member, the sum of (a) such Member’s Common Capital Account, and (b) such Member’s Preferred Capital Account. In the event that all of the Capital Accounts of a Member are negative, then all such Capital Accounts shall be added to produce a total deficit Aggregate Capital Account for such Member. A positive balance in any of the Capital Account(s) of a Member shall be offset with a negative balance in its other Capital Account(s) to produce either a positive or a negative Aggregate Capital Account, as the case may be. In the event any Interests are Transferred in accordance with the terms of this Agreement, the Transferee shall succeed to the Capital Account(s) of the Transferor to the extent such Capital Account(s) relate to the Transferred Interests.
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Examples of Aggregate Capital Account in a sentence

  • If any Member has a deficit balance in its Aggregate Capital Account (after giving effect to all contributions, distributions, and allocations for all Allocation Years, including the Allocation Year during which such liquidation occurs), such Member shall have no obligation to make any contribution to the capital of the Company with respect to such deficit, and such deficit shall not be considered a debt owed to the Company or to any other Person for any purpose whatsoever.

  • No Member shall be required to restore a deficit balance in its Aggregate Capital Account or to lend any funds to the Company or, after its Capital Contributions have been made, to make any additional contributions, assessments, or payments to the Company, notwithstanding anything to the contrary contained herein.

  • It is acknowledged that the Capital Accounts and the Aggregate Capital Account of each Participating Group in the Joint Venture are accounts maintained separately from the accounts of the JV Companies.

  • The Cost Reimbursement Amount) (but not the Risk Premium Amount) shall be added to the non-contributing Participating Group’s Aggregate Capital Account.

  • The sole risk Participating Group shall concurrently contribute to the Joint Venture its entitlement to priority cash flows from the Development Project, and shall add the amount of its actual Costs calculated in accordance with section 9.14(7), less the Cost Reimbursement Amount, to its Aggregate Capital Account so that the capital contributions of both Participating Groups is credited in proportion to their Ownership Interests.