SALE AND CAPITAL ACCOUNT BALANCES Sample Clauses

SALE AND CAPITAL ACCOUNT BALANCES. 1.1 The Parties hereby acknowledge and agree that following the Sale, EFS Desert Sun has retained the Excluded Cash Grant Interests and Retained Obligations and the Purchaser has acquired the Assigned Interests which exclude the Excluded Cash Grant Interests and Retained Obligations. The Parties further acknowledge and agree that the Excluded Cash Grant Interests retained by EFS Desert Sun provide EFS Desert Sun with all of the rights under the Second Amended and Restated LLCA with respect to the Cash Grant to the full extent that EFS Desert Sun had such rights prior to the Sale. Additionally, the Parties acknowledge and agree that EFS Desert Sun rather than the Purchaser is solely responsible for the performance of any obligations under the Second Amended and Restated LLCA with respect to the Excluded Cash Grant Interests and the Retained Obligations.
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to SALE AND CAPITAL ACCOUNT BALANCES

  • Capital Contributions and Capital Accounts (a) The value of the interests contributed by the Class A Certificateholders and the Class I Certificateholders shall equal the amount paid by such Certificateholders for such interests, respectively, and such amounts shall constitute the opening balance in their Capital Accounts (as hereinafter defined). The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above. Such amount shall constitute the opening balance in the Class IC Certificateholder's Capital Account.

  • Capital Contributions Capital Accounts The capital contribution of the Sole Member is set forth on Annex A attached hereto. Except as required by applicable law, the Sole Member shall not at any time be required to make additional contributions of capital to the Company. The capital accounts of the members shall be adjusted for distributions and allocations made in accordance with Section 8.

  • Book Capital Accounts The Book Capital Account balance of each Holder shall be adjusted each day by the following amounts:

  • Capital Account (a) There shall be established for each Member on the books of the Company a Capital Account in accordance with Section 704 of the Code and the Treasury Regulations promulgated thereunder.

  • Capital Accounts The Company will maintain a Capital Account for each Member on a cumulative basis in accordance with federal income tax accounting principles.

  • Capital Accounts Allocations There shall be established in respect of each Holder a separate capital account in the books and records of the Up-MACRO Holding Trust in respect of the Holder's Capital Contributions to the Up-MACRO Holding Trust (each, a "Capital Account"), to which the following provisions shall apply:

  • Deficit Capital Accounts No Member will be required to pay to the Company, to any other Member or to any third party any deficit balance that may exist from time to time in the Member’s Capital Account.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • Account Balance The Servicer must never allow any Custodial T&I Account to become overdrawn as to any individual related Borrower. If there are insufficient funds in the account, the Servicer must advance its own funds to cure the overdraft.

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