Opening Capital Account definition

Opening Capital Account has the meaning in §4.1.
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Opening Capital Account with respect to any fiscal period means:
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Opening Capital Account has the meaning set forth in Section 12(a) of this LLC Agreement.
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Examples of Opening Capital Account in a sentence

  • There will be established on the books of the Partnership an Opening Capital Account for each Partner in accordance with the definitions and methods of allocation prescribed in this Agreement.

  • The initial Opening Capital Account Balance of each Member shall be equal to such Member’s Initial Capital Contribution.

  • The Opening Capital Account as of the beginning of each subsequent Accounting Period shall be the Limited Partner’s Closing Capital Account for the immediately preceding Accounting Period (determined under §4.2), increased by any additional Capital Contribution, decreased by the amount of any withdrawals made by the Limited Partner as of the end of the preceding Accounting Period and by the amount of any distribution made to him during such Accounting Period under Article 6.

  • Its amount shall be determined by adjusting the Opening Capital Account of the Limited Partner for the Accounting Period as follows: Any increase or decrease in the Fund NAV for the Accounting Period shall be credited or debited (as the case may be) Pro Rata to the individual Opening Capital Accounts of all Limited Partners, including the General Partner.

  • The Opening Capital Account Balance of a Member for each Accounting Period subsequent to the Accounting Period in which such Member was admitted to the Company shall be an amount equal to the Closing Capital Account Balance of such Member, determined in accordance with Section 4.2, for the immediately preceding Accounting Period plus the amount of any Additional Capital Contributions made by such Member pursuant to Section 2.8(c) hereto as of the beginning of such subsequent Accounting Period.

  • Each Members Opening Capital Account Balance shall be (a) increased by the amount of any Additional Capital Contributions, (b) decreased by the amount of the Fees allocable to such Member’s Capital Account, (c) increased or decreased for allocations pursuant to Section 5.1, and then for distributions pursuant to Section 5.2 and (d) decreased for the amount of any withdrawals pursuant to Section 9.9, in each case in respect of such Accounting Period.

  • The Opening Capital Account as of the beginning of the Accounting Period in which the Limited Partner is admitted shall be his Capital Contribution as of that date.

  • The Opening Capital Account Balance of a Member for each Accounting Period subsequent to the Accounting Period in which such Member was admitted to the Company shall be an amount equal to the Closing Capital Account Balance of such Member, determined in accordance with Section 4.2, for the immediately preceding Accounting Period plus the amount of any Additional Capital Contributions made by such Member hereto as of the beginning of such subsequent Accounting Period.

  • Allocations will be made to the Opening Capital Account of each Partner in accordance with Section 6.3, as of the following dates: the close of each fiscal year of the Partnership; the day before the date of the admission of an Additional Private Limited Partner or increase in any Private Limited Partner's Commitment; the day before the dissolution of the Partnership; the date of a distribution; and such other dates as this Agreement may provide.

  • Allocations will be made to the Opening Capital Account of each Partner in accordance with Section 6.03, as of the following dates: the close of each fiscal year of the Partnership; the day before the date of the admission of an Additional Private Limited Partner or increase in any Private Limited Partner's Commitment; the day before the dissolution of the Partnership; the date of a distribution; and such other dates as this Agreement may provide.


More Definitions of Opening Capital Account

Opening Capital Account. Opening Capital Account" has the meaning set forth in Section 4.1 hereof.
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Opening Capital Account means the account established for each Partner on the books of the Partnership pursuant to Section 6.1 hereof.
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Opening Capital Account. A Partner's Capital Account as determined under paragraph 5.2.
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Related to Opening Capital Account

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

  • Adjusted Capital Account means the Capital Account maintained for each Partner as of the end of each Fiscal Year (i) increased by any amounts which such Partner is obligated to restore pursuant to any provision of this Agreement or is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) and (ii) decreased by the items described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6). The foregoing definition of Adjusted Capital Account is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Adjusted Capital Account Balance means, with respect to each Partner, the balance in such Partner’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(c)(4), (5) and (6); and (ii) by adding to such balance such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), and any amounts such Partner is obligated to restore pursuant to any provision of this Agreement or by applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Net Working Capital Adjustment Amount means an amount, which may be a positive or negative number, equal to the Net Working Capital as of the Effective Time minus the Net Working Capital Threshold.

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

  • Economic Capital Account Balances has the meaning set forth in Section 5.01(g) hereof.

  • Working Capital Adjustment Amount has the meaning set forth in Section 2.1(b)(ii). Section 1.2

  • 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 Account Limitation has the meaning set forth in Section 4.05(b) hereof.

  • Partially Adjusted Capital Account means, with respect to any Member for any taxable year or other period of the Company, the Capital Account balance of such Member at the beginning of such year or period, adjusted for all contributions and distributions made or deemed made to or by such Member during such year or period and all special allocations to such Member pursuant to Section 6.2 with respect to such year or period, but before giving effect to any allocations of Net Profit or Net Loss to such Member pursuant to Section 6.1 with respect to such year or period.

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Working Capital Deficit means the amount by which the Net Working Capital is less than the Target Net Working Capital.

  • Working Capital Adjustment shall have the meaning set forth in Section 3.5(c)(i).

  • Consolidated Working Capital Adjustment means, for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Working Capital Surplus means the amount by which the Working Capital is greater than the Target Working Capital Amount.

  • Net Working Capital Target means $0.00.

  • Working Capital Target has the meaning set forth in Section 1.3(b).

  • Net Working Capital Amount means, with respect to a Participating McNeil Partnership, the excess of the Positive Excess Cash Balance of such Participating McNeil Partnership over the cash on hand of such Participating McNeil Partnership immediately prior to the Effective Time.

  • Working Capital Escrow Amount means $500,000.

  • Working Capital Amount shall have the meaning specified in Section 3.4(e).

  • Target Net Working Capital Amount means $0.