Common use of Deficit Capital Accounts Clause in Contracts

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company, or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership Interests, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 20 contracts

Samples: Organization Agreement (Futures Strategic Trust), Organization Agreement (Diversified Futures Trust I), Organization Agreement (Kenmar Global Trust)

AutoNDA by SimpleDocs

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership Interests, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 10 contracts

Samples: Operating Agreement (Jefferson Holdings Inc.), Operating Agreement (Jefferson Holdings Inc.), Operating Agreement (Jefferson Holdings Inc.)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account capital account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership InterestsSharing Ratios, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account 's capital account to zero.

Appears in 7 contracts

Samples: Company Agreement (Hall Structured Finance II, LLC), Operating Agreement (Public Service Co of North Carolina Inc), Limited Liability Company Agreement (Exco Resources Inc)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to upon dissolution of the extent that Company, the deficit, if any, in the Capital Account capital account of any Member Member, including any deficit that results from or is attributable to deductions and losses of the Company, Company (including non-cash items such as depreciation) or distributions of money assets pursuant to this Agreement to all Members in proportion to their respective Membership InterestsMembers, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account capital account to zero.

Appears in 4 contracts

Samples: Operating Agreement (Ministry Partners Investment Corp), Limited Liability Company Operating Agreement (Magnachip Semiconductor LLC), Limited Liability Company Operating Agreement (MagnaChip Semiconductor LTD (United Kingdom))

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership Interestsinterests, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account capital account to zero.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (DelStaff, LLC), Limited Liability Company Agreement (DelStaff, LLC), Operating Agreement (River Medical Inc)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership Percentage Interests, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 3 contracts

Samples: Operating Agreement (Rodman & Renshaw Capital Group, Inc.), Limited Liability Company Agreement (SS&C Technologies Holdings Inc), Operating Agreement (Noble Advisors, LLC)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Operating Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account capital account of any the Member results from or is attributable to deductions and losses of the Company, Company (including non-cash items such as depreciation) or distributions of money pursuant to this Operating Agreement to all Members in proportion to their respective Membership Intereststhe Member, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members the Member shall not be obligated to contribute such amount to the Company to bring the balance of such the Member’s Capital Account capital account to zero.

Appears in 2 contracts

Samples: Operating Agreement (A.W. Realty Company, LLC), Operating Agreement (A.W. Realty Company, LLC)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions Distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership Interests, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 2 contracts

Samples: Operating Agreement (Touchstone Resources Usa, Inc.), Operating Agreement (Maverick Oil & Gas, Inc.)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money assets pursuant to this Agreement to all Members in proportion to their respective Membership InterestsMembers, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account 's capital account to zero.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Internet Capital Group Inc), Limited Liability Company Agreement (Internet Capital Group Inc)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership Percentage Interests, upon dissolution termination of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 2 contracts

Samples: Company Agreement (River Medical Inc), Company Agreement (Green America Recycling, LLC)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law Law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money assets pursuant to this Agreement to all Members in proportion to their respective Membership InterestsMembers, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (MediaAlpha, Inc.)

AutoNDA by SimpleDocs

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Operating Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Operating Agreement to all Members in proportion to their respective Membership InterestsMembers, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members Member shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Employment Agreement (North American Gaming & Entertainment Corp)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to upon dissolution of the extent that Company, the deficit, if any, in the Capital Account capital account of any Member Member, including any deficit that results from or .or is attributable to to’ deductions and losses of the Company, Company (including non-cash items such as depreciation) or distributions of money assets pursuant to this Agreement to all Members in proportion to their respective Membership InterestsMembers, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account capital account to zero.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (MacDermid Group Inc.)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the a deficit, if any, in the Capital Account of any the Sole Member results from or is attributable to deductions and losses of the CompanyCompany (including noncash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership InterestsAgreement, upon dissolution of the Company Company, such deficit shall not be an asset of the Company and such Members the Sole Member shall not be obligated to contribute such amount to the Company to bring the balance of such the Sole Member’s Capital Account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Safeway Stores 42, Inc.)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreementagreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account capital account of any Member member results from or is attributable to deductions and losses of the Companycompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement agreement to all Members members in proportion to their respective Membership Interestspercentage interests, upon dissolution of the Company company such deficit shall not be an asset of the Company company and such Members members shall not be obligated to contribute such amount to the Company company to bring the balance of such Membermember’s Capital Account capital account to zero.

Appears in 1 contract

Samples: Operating Agreement

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the any Member’s Capital Account of any Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership Interestsaccordance with the provisions of this Article XII, upon dissolution termination of the Company such deficit shall not be an asset of the Company and such Members Member shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (PREMIER NUTRITION Corp)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the a deficit, if any, in the Capital Account of any the Sole Member results from or is attributable to deductions and losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership InterestsAgreement, upon dissolution of the Company Company, such deficit shall not be an asset of the Company and such Members the Sole Member shall not be obligated to contribute such amount to the Company to bring the balance of such the Sole Member’s Capital Account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Safeway Stores 42, Inc.)

Deficit Capital Accounts. As contemplated by Section 4.4, notwithstanding Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses Losses of the CompanyCompany (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Membership InterestsSharing Ratios, upon dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 1 contract

Samples: Operating Agreement (Piedmont Natural Gas Co Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.