Debits. Each Member's Capital Account shall be decreased by (1) the amount of cash and the Asset Value of any property distributed to the Member, (2) the Member's allocable share of Losses pursuant to Article V, below, and (3) the amount of any debt of the Member that is assumed by the Company or secured by any property contributed by the Member to the Company.
Debits. Each Partnership Unit Holder’s Capital Account shall be debited with (reduced by) the amount of cash and the Fair Market Value of any property distributed to such Partnership Unit Holder (except to the extent a distribution is treated as a “guaranteed payment” under Section 707(c) of the Code), any expenses or losses allocated to such Partnership Unit Holder pursuant to Section 7.1, and the amount of any liabilities or indebtedness of such Partnership Unit Holder that is assumed by the Partnership or that is secured by any property contributed by such Partnership Unit Holder to the Partnership.
Debits. Employees may carry forward up to ten (10) debit hours in an accounting period. Debit hours in excess of ten (10) will be reported to the Senior Department Head/Manager, and if not cleared within the succeeding accounting period, will be automatically deducted from the employee’s pay cheque, at the regular rate of pay, on the next appropriate payroll date. All debit hours must be cleared annually by November 30th or the hours will be deducted from the employee’s pay cheque, at the regular rate of pay. Debit hours are not interchangeable with leaves of approved absences.
Debits. To each Member’s Capital Account there shall be debited the amount of cash and the Gross Asset Value of any assets of the Company Distributed to such Member, such Member’s distributive share of Net Losses and any items in the nature of expenses, deductions or losses which are specially allocated pursuant to Sections 2.2 and 2.3 of this Schedule B, and the amount of any liabilities of such Member assumed by the Company or which are secured by any property contributed by such Member to the Company;
Debits. To each Person’s Capital Account there shall be debited the amount of cash and the Gross Asset Value of any Partnership Property distributed to such Person pursuant to any provision of this Agreement, such Person’s distributive share of Losses and any items in the nature of expenses or losses which are specially allocated pursuant to Section 4.2 or Section 4.3 hereof, and the amount of any liabilities of such Person which are assumed by the Partnership or which are secured by any property contributed by such Person to the Partnership.
Debits. Without prejudice to Condition 5.7, the Bank may, at its discretion, debit any sums (whether in respect of principal, interest, fees, costs or otherwise) due from the Borrower to the Bank under the Facility to any account of the Borrower with the Bank, notwithstanding that any such debit results in a debit balance or an increased debit balance on the relevant account.