Common use of Capital Accounts Generally Clause in Contracts

Capital Accounts Generally. (a) Except as otherwise provided in this Agreement, whenever it is necessary to determine the Capital Account of any Member for any purpose hereunder, the Capital Account of such Member shall be determined after giving effect to all adjustments provided for in Section 4.5 for the current Fiscal Year in respect of transactions effected prior to the date such determination is to be made.

Appears in 7 contracts

Samples: Limited Liability Company Agreement (MPLX Lp), Limited Liability Company Agreement (Markwest Energy Partners L P), Limited Liability Company Agreement (Markwest Energy Partners L P)

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Capital Accounts Generally. (a) Except as otherwise provided in this Agreement, whenever Whenever it is necessary to determine the Capital Account of any Member for any purpose hereunder, the Capital Account of such Member shall be determined after giving effect to all adjustments provided for in Section 4.5 herein for the current Fiscal Year in respect of transactions effected prior to the date such determination is to be made.

Appears in 1 contract

Samples: Operating Agreement (Trestle Transport, Inc.)

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