Common use of Transfer of Capital Accounts Clause in Contracts

Transfer of Capital Accounts. The original Capital Account established for each Substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) to which such Substituted Member succeeds, at the time such Substituted Member is admitted to the Company. The Capital Account of any Member whose interest in the Company shall be increased or decreased by means of the Transfer to it of all or part of the Units of another Member shall be appropriately adjusted to reflect such transfer or repurchase. Any reference in this Agreement to a Capital Contribution of or Distribution to a Member that has succeeded any other Member shall include any Capital Contributions or Distributions previously made by or to the former Member on account of the Units of such former Member transferred to such Member.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (loanDepot, Inc.), Limited Liability Company Agreement (Clearwater Analytics Holdings, Inc.), Limited Liability Company Agreement (loanDepot, Inc.)

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Transfer of Capital Accounts. The original Capital Account established for each Substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) to which such Substituted Member succeeds, at the time such Substituted Member is admitted to the Company. The Capital Account of any Member Unitholder whose interest in the Company shall be increased or decreased by means of the Transfer to it of all or part of the Units of another Member Unitholder shall be appropriately adjusted to reflect such transfer or repurchaseTransfer. Any reference in this Agreement to a Capital Contribution of or Distribution to a Member Unitholder that has succeeded any other Member Unitholder shall include any Capital Contributions or Distributions previously made by or to the former Member Unitholder on account of the Units of such former Member transferred Unitholder Transferred to such MemberUnitholder.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement

Transfer of Capital Accounts. The original Capital Account established for each Substituted a substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) to which that such Substituted substituted Member succeeds, succeeds at the time such Substituted substituted Member is admitted to as a Member of the Company. The Capital Account of any Member whose interest in the Company shall be Interest is increased or decreased by means of the Transfer transfer to it of all or part of the Units Interest of another Member, and the Capital Account of any Member whose Interest is thereby decreased, shall be appropriately adjusted to reflect such transfer or repurchasetransfer. Any reference in this Agreement to a Capital Contribution of or Distribution distribution to a Member that has succeeded any other then-Member shall include any without limitation a Capital Contributions Contribution or Distributions distribution previously made by or to the former any prior Member on account of the Units Interest of such former Member transferred to such then-Member.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement

Transfer of Capital Accounts. The original Capital Account established for each Substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) to which such Substituted Member succeeds, at the time such Substituted Member is admitted to the Company. The Capital Account of any Member whose interest in the Company shall be increased or decreased by means of the Transfer transfer to it of all or part of the Units of another Member shall be appropriately adjusted to reflect such transfer or repurchasetransfer. Any reference in this Agreement to a Capital Contribution (or Cash Capital Contribution) of or Distribution distribution to a Member that has succeeded any other Member shall include any Capital Contributions (or Distributions Cash Capital Contribution) or distributions previously made by or to the former Member on account of the Units of such former Member transferred to such Member.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (U.S. Shipping Partners L.P.), Limited Liability Company Agreement (U.S. Shipping Partners L.P.)

Transfer of Capital Accounts. The original Capital Account established for each Substituted substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) to which such Substituted substituted Member succeeds, at the time such Substituted substituted Member is admitted to the Company. The Capital Account of any Member whose interest in the Company shall be increased or decreased by means of the Transfer transfer to it of all or part of the Units Membership Interest of another Member shall be appropriately adjusted to reflect such transfer or repurchasetransfer. Any reference in this Agreement to a Capital Contribution of or Distribution distribution to a Member that has succeeded any other Member shall include any Capital Contributions or Distributions distributions previously made by or to the former Member on account of the Units Membership Interest of such former Member transferred to such Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Centerpoint Properties Trust)

Transfer of Capital Accounts. The original Capital Account established for each Substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) of the Member attributable to the Units of such Member to which such Substituted Member succeeds, at the time such Substituted Member is admitted to as a Member of the Company. The Capital Account of any Member whose interest in the Company shall be increased or decreased by means of the Transfer to it of all or part of the Units of another Member or the repurchase of Units shall be appropriately adjusted to reflect such transfer Transfer or repurchase. Any reference in this Agreement to a Capital Contribution of or Distribution to a Member that has succeeded any other Member shall include any Capital Contributions or Distributions previously made by or to the former Member on account of the Units of such former Member transferred Transferred to such Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Nuvve Holding Corp.)

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Transfer of Capital Accounts. The original Capital Account established for each Substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) of the Member attributable to the Units of such Member to which such Substituted Member succeeds, at the time such Substituted Member is admitted to as a Member of the Company. The Capital Account of any Member whose interest in the Company shall be increased or decreased by means of the Transfer to it of all or part of the Units of another Member or the repurchase of Units shall be appropriately adjusted to reflect such transfer Transfer or repurchase. Any reference in this Agreement to a Capital Contribution of or Distribution to a Member that has succeeded any other Member shall include any Capital Contributions or Distributions previously made by or to the former Member on account of the Units of such former Member transferred to such Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (California Resources Corp)

Transfer of Capital Accounts. The original Capital Account established for each Substituted Member shall be in the same amount as the Capital Account of the Member Unitholder (or portion thereof) to which such Substituted Member succeeds, at the time such Substituted Member is admitted to the Company. The Capital Account of any Member whose interest in the Company Unitholder shall be increased or decreased by means of the Transfer transfer to it of all or part of the Units of another Member shall be appropriately adjusted to reflect such transfer or repurchaseUnitholder. Any reference in this Agreement to a Capital Contribution of or Distribution to a Member Unitholder that has succeeded any other Member Unitholder shall include any Capital Contributions or Distributions previously made by or to the former Member Unitholder on account of the Units of such former Member Unitholder transferred to such Member.successor Unitholder. [*] INDICATES CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT AND HAS BEEN FILED SEPARATELY WITH THE COMMISSION

Appears in 1 contract

Samples: Limited Liability Company Agreement (ChromaDex Corp.)

Transfer of Capital Accounts. The original Capital Account established for each Substituted Member shall will be in the same amount as the Capital Account of the Member (or portion thereof) of the Member to which such Substituted Member succeeds, at the time such Substituted Member is admitted to as a Member of the Company. The Capital Account of any Member whose interest in the Company shall be is increased or decreased by means of the a Transfer to it of all or part less than all of the Units of another Member shall will be appropriately adjusted to reflect such transfer or repurchaseTransfer. Any reference in this Agreement to a Capital Contribution of or a Distribution to a Substituted Member that has succeeded to all or less than all of the Units of any other Member shall will include any Capital Contributions or Distributions previously made by or to the former Member such Transferor on account of the Units of such former Member transferred Transferred to such Substituted Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Symbotic Inc.)

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