Common use of Transfer of Capital Accounts Clause in Contracts

Transfer of Capital Accounts. The original Capital Account established for each transferee Series II Shareholder shall be in the same amount as the Capital Account of the Series II Shareholder (or portion thereof) to which such transferee Shareholder succeeds at the time of such transfer. The Capital Account of any Series II Shareholder whose interest in Series II shall be increased or decreased by means of the transfer of Shares shall have a corresponding adjustment to such Series II Shareholder’s Capital Account. Any reference in this Agreement to a Capital Contribution of or distribution to a Series II Shareholder that has succeeded to Shares in Series II of any other Series II Shareholder shall include any Capital Contributions or distributions previously made by or to the former Series II Shareholder on account of such Shares in Series II.

Transfer of Capital Accounts. The original Capital Account established for each transferee Series II Shareholder Member shall be in the same amount as the Capital Account of the Series II Shareholder Member (or portion thereof) to which such transferee Shareholder Member succeeds at the time of such transfer. The Capital Account of any Series II Shareholder Member whose interest in Series II shall be increased or decreased by means of the transfer of Shares shall have a corresponding adjustment to such Series II ShareholderMember’s Capital Account. Any reference in this Agreement to a Capital Contribution of or distribution to a Series II Shareholder Member that has succeeded to Shares in Series II of any other Series II Shareholder Member shall include any Capital Contributions or distributions previously made by or to the former Series II Shareholder Member on account of such Shares in Series II.