Capital Account definition

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

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

Capital Account has the meaning provided in Section 4.4 hereof.

Examples of Capital Account in a sentence

• In the event that any Membership Interest is 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 Membership Interest and, subject to Section 5.04, shall receive allocations and distributions pursuant to ARTICLE V, ARTICLE VI, and ARTICLE XII in respect of such Membership Interest.

• In the event that any Member shall have a deficit balance in its Capital Account, such Member shall have no obligation, including during the Term or upon dissolution or liquidation of the Company, to restore such negative balance or make any Capital Contributions to the Company 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.

• 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 3.03(a)(iii), if applicable.

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

• Notwithstanding any contrary provision of Section 3.05(II) of the Standard Terms and Conditions of Trust, such cash shall not be included in the balance of the Capital Account to be distributed to Unit holders.

More Definitions of Capital Account

Capital Account means the capital account maintained for a Member in accordance with Section 5.01.

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 has the meaning set forth in Section 3.03.

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

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

Capital Account has the meaning set forth in Section 5.03.