Common use of CREDITING ACCOUNTS Clause in Contracts

CREDITING ACCOUNTS. Items of income, gains, expenses, deductions, losses and credits shall be credited or debited, as the case may be, to each Venturer's Capital Account.

CREDITING ACCOUNTS. Items of income, gains, expenses, deductions, losses and credits shall be credited or debited, debited as the case may be, to each Venturer's Capital AccountMember’s capital account as provided in Section 2.5 hereof and pursuant to the adjustments described in Section 3.4 hereof, if applicable.