Common use of Establishment and Determination of Capital Accounts Clause in Contracts

Establishment and Determination of Capital Accounts. A capital account (“Capital Account”) shall be established for each Member on the books of the Company initially reflecting an amount equal to such Member’s initial Capital Contribution pursuant to Section 3.3. Each Holder’s Capital Account shall be (a) increased by any additional Capital Contributions made by such Holder pursuant to the terms of this Agreement and such Holder’s share of Profits and any other items of income and gain allocated to such Holder pursuant to Article V, (b) decreased by such Holder’s share of Losses and any other deduction allocated to such Holder pursuant to Article V and any distributions to such Holder of cash or the Fair Market Value of any other property (net of liabilities assumed by such Holder and liabilities to which such property is subject) distributed to such Holder and (c) adjusted as otherwise required by the Code and the regulations thereunder, including but not limited to, the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). Any references in this Agreement to the Capital Account of a Holder shall be deemed to refer to such Capital Account as the same may be increased or decreased from time to time as set forth above. A transferee of a Membership Interest shall succeed to the Capital Account relating to the Membership Interest transferred.

Establishment and Determination of Capital Accounts. A capital account (“Capital Account”"CAPITAL ACCOUNT") shall be established for each Member Owner on the books of the Company initially reflecting an amount equal to such Member’s Owner's initial Capital Contribution pursuant to Section 3.33.03. Each Holder’s Owner's Capital Account shall be (a) increased by any additional Capital Contributions made by such Holder Owner pursuant to the terms of this Agreement and such Holder’s Owner's share of Profits and any other items of income and gain allocated to such Holder Owner pursuant to Article V, (b) decreased by such Holder’s Owner's share of Losses items of loss, deduction and any other deduction expense allocated to such Holder Owner pursuant to Article V and any distributions to such Holder Owner of cash or the Fair Market Value fair market value of any other property (net of liabilities assumed by such Holder Owner and liabilities to which such property is subject) distributed to such Holder Owner and (c) adjusted as otherwise required by the Code and the regulations thereunder, including but not limited to, the rules of Treasury Regulation Section 1.704-1(b)(2)(iv); PROVIDED that, in the case of any adjustment permitted by Treasury Regulation Section 1.704-1(b)(2)(iv)(f), such adjustment may be made at the discretion of the Managing Member (or, if none, the Class A Members). Any references in this Agreement to the Capital Account of a Holder an Owner shall be deemed to refer to such Capital Account as the same may be increased or decreased from time to time as set forth above. A transferee of a Membership Interest shall succeed to the Capital Account relating to the Membership Interest transferred.

Establishment and Determination of Capital Accounts. A capital account (“Capital Account”) shall be established for each Member on the books of the Company initially reflecting an amount equal to such Member’s initial Capital Contribution pursuant to Section 3.38. Each Holder’s Capital Account shall be (a) increased by any additional Capital Contributions made by such Holder pursuant to the terms of this Agreement and such Holder’s share of Profits and any other items of income and gain allocated to such Holder pursuant to Article VSection 10, (b) decreased by such Holder’s share of Losses and any other deduction allocated to such Holder pursuant to Article V Section 10 and any distributions to such Holder of cash or the Fair Market Value of any other property (net of liabilities assumed by such Holder and liabilities to which such property is subject) distributed to such Holder and (c) adjusted as otherwise required by the Code and the regulations thereunder, including but not limited to, the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). Any references in this Agreement to the Capital Account of a Holder shall be deemed to refer to such Capital Account as the same may be increased or decreased from time to time as set forth above. A transferee of a Membership Interest shall succeed to the Capital Account relating to the Membership Interest transferred.

Establishment and Determination of Capital Accounts. A capital account (“Capital Account”) shall be established for each Member on the books of the Company initially reflecting an amount equal to such Member’s initial Capital Contribution pursuant to Section 3.3. Each Holder’s Capital Account shall be (a) increased by any additional Capital Contributions made by such Holder pursuant to the terms of this Agreement and such Holder’s share of Profits and any other items of income and gain allocated to such Holder pursuant to Article V, (b) decreased by such Holder’s share of Losses and any other deduction allocated to such Holder pursuant to Article V and any distributions Distributions to such Holder of cash or the Fair Market Value of any other property (net of liabilities assumed by such Holder and liabilities to which such property is subject) distributed to such Holder and (c) adjusted as otherwise required by the Code and the regulations thereunder, including but not limited to, the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). Any references in this Agreement to the Capital Account of a Holder shall be deemed to refer to such Capital Account as the same may be increased or decreased from time to time as set forth above. A transferee of a Membership Interest shall succeed to the Capital Account relating to the Membership Interest transferred.