Capital Account Ledger. The Managing GP (or the Cash Manager on its behalf), shall maintain the Capital Account Ledger or sub-ledgers in respect of each Partner. Any increase or decrease in the Capital Contribution Balance of a Partner shall be credited or debited to such Partner’s Capital Account Ledger on each Calculation Date. The Capital Contribution Balance of each Partner as recorded in the Capital Account Ledger from time to time, shall represent such Partner’s interest in the capital of the Partnership, provided that at no time shall the Capital Contribution Balance of the Liquidation GP be greater than, or the Liquidation GP be entitled to a return of capital from the Partnership of greater than, $0.01 unless agreed to by each of the other Partners.
Capital Account Ledger. The Managing GP shall maintain the Capital Account Ledger or sub-ledgers in respect of each Partner. Any increase or decrease in the Capital Contribution Balance of a Partner shall be credited or debited to such Partner's Capital Account Ledger on each Distribution Day. The Capital Contribution Balance of each Partner as recorded in the Capital Account Ledger from time to time, shall represent such Partner's interest in the capital of the Partnership.
Capital Account Ledger. A separate Capital Account Ledger shall be maintained for each Member's Capital Contribution. An equivalent record shall be maintained for each Members’ distributions and allocations. The Capital Account for each Member shall be increased by the amount of any cash and the fair market value of any property or assets, tangible or intangible, contributed to the Company by such Member (net of any liability secured by such contributed property that the Company is considered to assume or become subject to), and (ii) any profits distributed to such Member. The Capital Account for each Member shall be reduced by (i) the amount of any cash and the fair market value of any property or assets distributed to the Member by the Company (net of liabilities secured by such distributed property that the Member is considered to assume or become subject to on account of his/her/its ownership interest), (ii) any other amount of allocations or distributions paid to such Member, and (iii) any losses distributed to such Member. If any property other than cash is distributed to a Member, the Capital Accounts of the Members shall be adjusted as if the property had instead been sold by the Company for a price equal to its fair market value and the proceeds distributed.
