Capital Account Maintenance. A separate “Capital Account” shall be maintained for each Member under Section 18.2 for the full term of this Agreement in accordance with the requirements of Section 704(b) of the Code and the Treasury Regulations thereunder. A Member’s Capital Account shall be determined as provided in Section 18.2.
Capital Account Maintenance. The Partnership shall maintain a separate Capital Account (the “Capital Account”) for each Partner. The Capital Account of each Partner shall be credited with the cash and the fair market value of any property (net of liabilities assumed by the Partnership and liabilities to which such property is subject) contributed to the Partnership by such Partner, plus all income, gain, or Profits of the Partnership allocated to such Partner pursuant to Section 7.2 of this Agreement (including for purposes of this Section income and gain exempt from tax), and shall be debited by the sum of all Losses or deductions of the Partnership allocated to such Partner pursuant to Section 7.2 of this Agreement, such Partner’s distributive share of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code and expenditures treated as such pursuant to Treasury Regulations Section 1.704- l(b)(2)(iv)(i) and all cash and the fair market value of any property (net of liabilities assumed by the Partner and the liabilities to which such property is subject) distributed by the Partnership to such Partner pursuant to Sections 7.1 and 13.2 of this Agreement. The computation of the amount of the Capital Account of a Partner shall be determined in all events solely in accordance with the rules set forth in Treasury Regulations Section 1.704-l(b)(2)(iv), as it now exists and may be amended, and, in the event that the treatment called for in such regulation is inconsistent with the provisions of this Agreement, the rules of the aforementioned regulation shall control. Any reference in any section of this Agreement to the Capital Account of a Partner shall be deemed to refer to such Capital Account as the same may be credited or debited from time to time as set forth above.
Capital Account Maintenance. An individual Capital Account shall be established and maintained by the Partnership for each Unit Holder in accordance with the applicable provisions of the Regulations.
Capital Account Maintenance. (a) The Company will maintain the Capital Accounts in accordance with Treasury Regulation 1.704-1(b)(2)(iv).
Capital Account Maintenance. The Company shall maintain for each Shareholder (or a beneficial owner of Member Interests held by a nominee in any case in which the nominee has furnished the identity of such owner to the Company in accordance with Section 6031(c) of the Code or any other method acceptable to the Board of Directors in its sole discretion) a separate Capital Account in accordance with the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). Such Capital Account shall be increased by (i) the amount of all Capital Contributions made by such Shareholder to the Company and (ii) that portion of the Company's Net Income allocated to such Shareholder under Section 9.5 and all items of income and gain specially allocated to such Shareholder under Section 9.6, and decreased by (x) the amount of cash or Net Agreed Value of all actual and deemed distributions of cash or property made to such Shareholder pursuant to this Agreement and (y) that portion of the Company's Net Loss allocated to such Shareholder under Section 9.5 and all items of Company deduction and loss specially allocated to such Shareholder under Section 9.6.
Capital Account Maintenance. The method by which the Capital Accounts are maintained is intended to comply with Section 704(b) of the Code and the Treasury Regulations thereunder and shall be interpreted and applied in a manner consistent therewith.
Capital Account Maintenance. The Capital Accounts of the Members shall be maintained in accordance with the following provisions:
Capital Account Maintenance. The Company shall establish and maintain for each Member a separate capital account (a “Capital Account”) on its books and records in accordance with Section 704(b) of the Code and Section 1.704-1(b)(2)(iv) of the Regulations and in accordance with such other provisions of Section 1.704-1(b) of the Regulations that must be complied with in order for the Capital Accounts to be determined in accordance with the provisions of such 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.
Capital Account Maintenance. For all purposes of this Amended Operating Agreement and throughout the entire term of the Company, (i) capital account balances shall be maintained in accordance with the rules of Section 1.704-1(b)(2)(iv) of the Treasury Regulations, (ii) liquidating distributions shall be made in accordance with the requirements of Section 1.804-1(b)(2)(ii)(b)(2) of the Treasury Regulations and (iii) the Company shall comply with the qualified income offset requirements of Section 1.704-1(b)(2)(ii)(d) of the Treasury Regulations.
