Maintenance of Capital Accounts. The Company shall maintain a separate Capital Account for each Unitholder according to the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). For this purpose, the Company may (in the sole discretion of the Manager), upon the occurrence of the events specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(f), increase or decrease the Capital Accounts in accordance with the rules of such regulation and Treasury Regulation Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of the Company property; provided that unless otherwise determined by the Manager, the Company will not increase the Capital Accounts of the Unitholders in connection with any issuance of Class B Common Units. Without limiting the foregoing, each Unitholder’s Capital Account shall be adjusted:
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Carvana Co.), Limited Liability Company Agreement (Carvana Co.), Limited Liability Company Agreement (Carvana Co.)
Maintenance of Capital Accounts. The Company shall maintain a separate Capital Account for each Unitholder according to the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). For this purpose, the Company may (in the sole discretion of the Manager), upon the occurrence of the events specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(f), increase or decrease the Capital Accounts in accordance with the rules of such regulation and Treasury Regulation Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of the Company property; provided that unless otherwise determined by the Manager, the Company will not increase the Capital Accounts of the Unitholders in connection with any issuance of Class B Common Units. Without limiting the foregoing, each Unitholder’s Capital Account shall be adjusted:
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Powerschool Holdings, Inc.), Limited Liability Company Agreement (Maravai Lifesciences Holdings, Inc.), Limited Liability Company Agreement (Maravai Lifesciences Holdings, Inc.)
Maintenance of Capital Accounts. The Company shall maintain a separate Capital Account for each Unitholder according to the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). For this purpose, the Company may (in the sole discretion of the ManagerBoard), upon the occurrence of the events specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(f), increase or decrease the Capital Accounts in accordance with the rules of such regulation and Treasury Regulation Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of the Company property; provided that unless otherwise determined by the Manager, the Company will not increase the Capital Accounts of the Unitholders in connection with any issuance of Class B Common Units. Without limiting the foregoing, each Unitholder’s Capital Account shall be adjusted, without duplication:
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Horizon Acquisition Corp), Limited Liability Company Agreement (Vivid Seats Inc.), Limited Liability Company Agreement (Vivid Seats Inc.)
Maintenance of Capital Accounts. The Company shall maintain a separate Capital Account for each Unitholder according to the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). For this purpose, the Company may (in the sole discretion of the Manager), upon the occurrence of the events specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(f), increase or decrease the Capital Accounts in accordance with the rules of such regulation and Treasury Regulation Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of the Company property; provided that unless otherwise determined by the Manager, the Company will not increase the Capital Accounts of the Unitholders in connection with any issuance of Class B Common Units. Without limiting the foregoing, each Unitholder’s Capital Account shall be adjusted, without duplication:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (GSR II Meteora Acquisition Corp.), Limited Liability Company Agreement (Bitcoin Depot Inc.)
Maintenance of Capital Accounts. The Company shall maintain a separate Capital Account for each Unitholder according to the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). For this purpose, the Company may (in the sole discretion of the ManagerManaging Member), upon the occurrence of the events specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(f), increase or decrease the Capital Accounts in accordance with the rules of such regulation and Treasury Regulation Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of the Company property; provided that unless otherwise determined by the Manager, the Company will not increase the Capital Accounts of the Unitholders in connection with any issuance of Class B Common Units. Without limiting the foregoing, each Unitholder’s Capital Account shall be adjusted:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Real Good Food Company, Inc.), Limited Liability Company Agreement (Real Good Food Company, Inc.)
Maintenance of Capital Accounts. The Company shall maintain a separate Capital Account for each Unitholder according to the rules of Treasury Regulation Section 1.704-1(b)(2)(iv). For this purpose, the Company may (in the sole discretion of the ManagerManaging Member), upon the occurrence of the events specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(f), increase or decrease the Capital Accounts in accordance with the rules of such regulation and Treasury Regulation Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of the Company property; provided that unless otherwise determined by the Manager, the Company will not increase the Capital Accounts of the Unitholders in connection with any issuance of Class B Common Units. Without limiting the foregoing, each Unitholder’s Capital Account shall be adjusted, without duplication:
Appears in 1 contract
Samples: Limited Liability Company Agreement (GSR II Meteora Acquisition Corp.)
