Capital Accounts definition

Capital Accounts. An individual capital account shall be maintained for each Partner, and capital contributions to the Partnership by the Partners shall be credited to such accounts. Partnership profits or losses shall also be charged or credited to the separate capital accounts in the manner provided in this Agreement. No interest shall be paid on the capital account of any Partner.

Capital Accounts. A capital account ("Capital Account") shall be established for each Member. All Capital Accounts shall be determined and maintained throughout the full term of this Agreement in accordance with the capital accounting rules of applicable Treasury Regulations issued under Section 704(b) of the Internal Revenue Code of 1986, as amended (the "Code"). Accordingly, the Capital Account of each Member shall be equal to the sum of the capital contributions made by that Member (i) increased by the amount of all net income and gain allocated to that Member pursuant to Section 5.1, and (ii) decreased by the amount of all losses and deductions allocated to that Member pursuant to Section 5.2 and amounts paid or distributed to that Member pursuant to Section 6.2 or Article 8. No interest shall be paid or credited on any Member's Capital Account.

Capital Accounts. As defined in Section 6.4.

Examples of Capital Accounts in a sentence

• The LLC may adjust the Capital Accounts of its Members to reflect revaluations of the LLC property whenever the adjustment would be permitted under Regulations Section 1.7041(b)(2)(iv)(f), provided that no adjustment shall be made in connection with the initial Capital Contributions.

• The Capital Accounts shall be maintained for the sole purpose of allocating items of income, gain, loss and deduction among the Members and shall have no effect on the amount of any distributions to any Members in liquidation or otherwise, other than in respect of any Profits Interests.

• No Member shall be entitled or required to make any addition- al contribution to the capital of the LLC; however, the LLC may, subject to Section 2.05, borrow from its Members as well as from banks or other lending institutions to finance its working capital or the acquisi- tion of assets upon such terms and conditions as shall be approved by the Board, and any borrowing from Members shall not be considered “Capital Contributions” or reflected in their Capital Accounts.

• Any non-cash asset distributed to one or more Members shall first be valued at its Fair Market Value as determined by the Managing Member to determine the Profit, Loss and special allocations that would have resulted if that asset had been sold for that value, which amounts shall be allocated pursuant to ARTICLE VI, and the Members’ Capital Accounts shall be adjusted to reflect those allocations.

• The Capital Accounts shall be maintained in accordance with Section 704(b) of the Code and applicable Treasury Regulations.

More Definitions of Capital Accounts

Capital Accounts shall have the meaning set forth in Section 10.01.

Capital Accounts has the meaning specified in Section 5.7 of the Trust Agreement.

Capital Accounts means, with respect to any Partner, the separate “book” account which the Partnership shall establish and maintain for such Partner in accordance with Section 704 (b) of the Code and Section 1.704-1(b)(2)(iv) of the Regulations and such other provisions of Section 1.704-l(b) of the Regulations that must be followed in order for the Capital Accounts to be determined in accordance with the provisions of said Regulations. In furtherance of the foregoing, the Capital Accounts shall be maintained in compliance with Section 1.704-1(b)(2)(iv) of the Regulations; and the provisions hereof shall be interpreted and applied in a manner consistent therewith. In the event that a Partnership Interest is transferred in accordance with the terms of this Agreement, the Capital Account, at the time of the transfer, of the transferor attributable to the transferred interest shall carry over to the transferee.

Capital Accounts mean the capital accounts maintained with respect to Partnership Interests pursuant to Section 5.1(a).

Capital Accounts means the capital accounts established by the Company for each Member pursuant to Section 5.5 hereof. Capital Accounts shall be determined and maintained throughout the full term of the Company for each Member in accordance with the rules of this definition. The balance of each Member’s Capital Account, as of any particular date, shall be an amount equal to the sum of the following:

Capital Accounts. An individual capital account shall be maintained for each Partner, and capital contributions to the Partnership by the Partners shall be credited to such accounts. Partnership profits or losses shall also be charged or credited to the separate capital accounts in the manner provided in this Agreement. No interest shall be paid on the capital account of any Partner. Allocations and Distributions: (Check One) ☐ - Partnership: A majority of the Partners shall vote to determine the timing and amount of any distribution and such determination shall be binding on all partners. ☐ - Limited Partnership: The General Partner shall determine the timing and amounts of distributions and such determination shall be binding on all Partners.

Capital Accounts has the meaning as set forth in Section 3.2.