Capital Account Statement definition
Capital Account Statement has the meaning provided such term in Section 6.14.
Examples of Capital Account Statement in a sentence
Promptly following the Execution Date (but in any event no later than five (5) Business Days prior to Closing), Magellan Seller shall (a) prepare, or cause to be prepared, a statement setting forth the Capital Account of each Seller as of December 31, 2017 calculated in accordance with Section 5.6 of the LLC Agreement (the “Capital Account Statement”) and (b) deliver the Capital Account Statement and reasonable supporting information to Buyer.
The Company shall issue annually to each Member an Individual Capital Account Statement that discloses their account balance and any changes since the previous Statement.