Positive Capital Account definition

Positive Capital Account means a Capital Account with a balance greater than zero.

Positive Capital Account means, as to a Partner at any point in time, the amount, if any, by which (1) the sum of the aggregate Capital Contributions of such Partner, the aggregate Profits and gains allocated prior to such point in time to such Partner exceeds (2) the sum of aggregate Losses, losses and distributions allocated prior to such point in time to such Partner.

Positive Capital Account means a Capital Account with a balance greater than zero. “Profit” and “Loss” mean, for each taxable year of the Company (or other period for which Profit or Loss must be computed) the Company’s taxable income or loss determined in accordance with Code Section 703(a), with the following adjustments:

Examples of Positive Capital Account in a sentence

• In its sole discretion, the Manager may periodically make distributions of Cash Flow (which the parties acknowledge is determined subject to the Company’s payment commitments then accrued and owed to SD under the terms of Section 4.1.a, and as further subject to the Company’s distribution commitment to SD set forth in this Section below) to PHS to the extent of its Positive Capital Account.

• In the event that the amount of the Partnership’s net loss from a Sale of Assets allocable under this subparagraph is insufficient to eliminate each Partner’s Positive Capital Account, then the Partnership’s loss from the Sale of Assets shall be allocated proportionately among such Partners with Positive Capital Accounts in the same ratio that each Partner’s Positive Capital Account bears to the sum of all of the Partners’ Positive Capital Accounts.

• Each owner of Units has a sufficient Pro Forma Positive Capital Account Balance to permit such owner to receive the share of the aggregate proceeds of the Approved Company Sale to which it is entitled pursuant to Section 4 hereof.

• Except as otherwise provided in this Agreement or by the Act, the Members are entitled to payment of their Capital Account balances only from the Company and are not entitled to recover their Positive Capital Account balance or share of Net Profits from any individual Member, except as provided in Article X.

• Positive Capital Account" means a Capital Account with a balance greater than zero.

More Definitions of Positive Capital Account

Positive Capital Account means a Capital Account with a balance greater than zero. (j) "Profit and Loss" means, for each fiscal year or other period, an amount equal to the Company's taxable income or loss for such year or period, determined in accordance with Section 703(a) of the Code (for this purpose, all 10 <PAGE> items of income, gain, loss, or deduction required to be stated separately pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss); provided, however, that in the event the Regulations promulgated under Section 704 of the Code require Book Value of assets to be used in determining profit or loss, then, for purposes of maintaining Capital Accounts in accordance with such Regulations, the taxable income or loss shall be computed using the Book Value of the assets. (k) "Restoration Amount" means, with respect to each Member: (a) the Member's share of Minimum Gain and (b) the amount, if any, which the Member is unconditionally required under this Agreement or by law to contribute to the Company (including the Member's share of debts of the Company that the Member has guaranteed and loans made by a Member to the Company).

Positive Capital Account means that the balance of a Partner’s Capital Account is greater than zero.

Positive Capital Account means a Capital Account with a balance greater than zero. “Profit” and “Loss” means, for each Fiscal Year of the Company (or other period for

Positive Capital Account shall be the amount by which each Partner’s distributive share of the Partnership’s Net Profits less each Partner’s distributive share of the Partnership’s Net Losses, exceeds the sum of each Partner’s Capital Contributions less the sum of cash and the Total Asset Value of property previously distributed to such Partner other than distributions of cash flow.

Positive Capital Account means a Capital Account with a credit balance.

Positive Capital Account mans a Capital Account with a balance greater than zero.

Positive Capital Account means a Capital Account