Establishment of Capital Accounts. The General Partner shall establish a separate Capital Account on the books of the Partnership for each Capital Contribution made by a Partner; except that a single Capital Account may be established for all Capital Contributions made by the General Partner. The opening balance of a Capital Account will be the amount of the Capital Contribution made thereto. The balance of each Capital Account shall be adjusted as provided in Section 5.02(b).
Appears in 5 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement, cdn2.hubspot.net
Establishment of Capital Accounts. (i) The General Partner shall establish a separate Capital Account on the books of the Partnership for each Capital Contribution made by a Partner; except that a single Capital Account may be established for all Capital Contributions made by the General Partner. The opening balance of a Capital Account will be the amount of the Capital Contribution made thereto. The balance of each Capital Account shall be adjusted as provided in Section 5.02(b).
Appears in 1 contract
Samples: Partnership Agreement
