Capital Account definition

Capital Account means, with respect to any Partner, the Capital Account maintained for such Partner in accordance with the following provisions:

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Capital Account means, with respect to any Member, the Capital Account maintained for such Member in accordance with Section 4.4.

Capital Account has the meaning provided in Section 4.4 hereof.

Examples of Capital Account in a sentence

• Without limiting the generality of the foregoing, a deficit Capital Account of a Partner shall not be deemed to be a liability of such Partner nor an asset or property of the Partnership.

• If any allocation of Losses would cause a Member to have an Adjusted Capital Account Deficit or would increase a Member’s Adjusted Capital Account Deficit, those Losses instead shall, subject to the limitations in this Section 7.2(b), be allocated to the other Members Pro Rata.

• Proper adjustment shall be made to the amount of any Capital Account adjustment under this Section 2.3(d) to take into account any prior Capital Account adjustment under this Section 2.3. The foregoing provisions and the other provisions of this Trust Agreement relating to the maintenance of Capital Accounts are intended to comply with section 1.704-1(b) of the Treasury regulations and shall be interpreted and applied in a manner consistent with such regulations.

• Allocations pursuant to this Section 5.1(f)(ii) are solely for purposes of federal, state and local income taxes and shall not affect, or in any way be taken into account in computing, any Partner’s Capital Account or share of Profit, Loss, or any other items or distributions pursuant to any provision of this Agreement.

• No Partner shall be entitled to withdraw any part of its Capital Contribution or its Capital Account or to receive any distribution from the Partnership, except as specifically provided in this Agreement.

More Definitions of Capital Account

Capital Account means the capital account maintained for a Member in accordance with Section 5.01.

Capital Account means the capital account maintained for a Partner pursuant to Section 5.5. The “Capital Account” of a Partner in respect of any Partnership Interest shall be the amount that such Capital Account would be if such Partnership Interest were the only interest in the Partnership held by such Partner from and after the date on which such Partnership Interest was first issued.

Capital Account for each Member shall mean the account created and maintained for the Member in accordance with Section 704(b) of the Internal Revenue Code and Treasury Regulation Section 1.704-1(b)(2)(iv).

Capital Account has the meaning set forth in Section 3.03.

Capital Account means the capital account maintained for a Member pursuant to Section 3.3.

Capital Account means the Capital Account maintained for a Partner pursuant to Exhibit B hereof.

Capital Account has the meaning set forth in Section 5.03.