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.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (QCR Holdings Inc)
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 V5, 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.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
Debits. Each Member's ’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 ’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.
Appears in 1 contract
Samples: Operating Agreement
Debits. Each Member's ’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 ’s allocable share of Losses pursuant to Article V, below, V 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.
Appears in 1 contract
