Capital Account definition

Capital Account means, with respect to any Partner, the Capital Account maintained for such Partner in accordance with the following provisions:

Capital Account has the meaning provided in Section 4.5.

Capital Account means, with respect to any Member, the Capital Account maintained for such Member in accordance with Section 4.4.

Examples of Capital Account in a sentence

• No Member shall receive any interest, salary or drawing with respect to its Capital Contributions or its Capital Account, except as otherwise provided in this Agreement.

• Loans by any Member to the Company shall not be considered Capital Contributions and shall not affect the maintenance of such Member's Capital Account, other than to the extent provided in Section 4.4 (a)(iii), if applicable.

• In the event that any Units are Transferred 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 Units and, subject to Section 5.4, shall receive allocations and Distributions pursuant to Section 5, Section 6 and Section 7 in respect of such Units.

• Any funds withheld from a Distribution by reason of this Section 6.3(b) shall nonetheless be deemed Distributed to the Member in question for all purposes under this Agreement and, at the option of the Manager, shall be charged against the Member's Capital Account.

• In the event that any Member shall have a deficit balance in his, her or its Capital Account, such Member shall have no obligation, during the term of the Fund or upon dissolution or liquidation thereof, to restore such negative balance or make any Capital Contributions to the Fund by reason thereof, except as may be required by Applicable Law or in respect of any negative balance resulting from a withdrawal of capital or dissolution in contravention of this Agreement.

More Definitions of Capital Account

Capital Account means the capital account maintained for a Partner pursuant to Section 5.5. The “Capital Account” of a Partner in respect of any Partnership Interest shall be the amount that such Capital Account would be if such Partnership Interest were the only interest in the Partnership held by such Partner from and after the date on which such Partnership Interest was first issued.

Capital Account for each Member shall mean the account created and maintained for the Member in accordance with Section 704(b) of the Internal Revenue Code and Treasury Regulation Section 1.704-1(b)(2)(iv).

Capital Account means the capital account maintained for a Member pursuant to Section 3.3.

Capital Account means the capital account established and maintained for each Member pursuant to Section 5.02.

Capital Account has the meaning provided in Section 4.4 hereof.

Capital Account has the meaning set forth in Section 3.04 hereof.

Capital Account means the Capital Account maintained for a Partner pursuant to Exhibit B hereof.