Partially Adjusted Capital Account means, with respect to any Member for any taxable year or other period of the Company, the Capital Account balance of such Member at the beginning of such year or period, adjusted for all contributions and distributions made or deemed made to or by such Member during such year or period and all special allocations to such Member pursuant to Section 6.2 with respect to such year or period, but before giving effect to any allocations of Net Profit or Net Loss to such Member pursuant to Section 6.1 with respect to such year or period.
Partially Adjusted Capital Account means, with respect to any Member and the Managing Member, and any fiscal year, the aggregate Capital Account for such Member and Managing Member as of the beginning of such fiscal year, adjusted in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv) with respect to such fiscal year but before giving effect to any allocations of Profit or Loss, or items of income, gain, loss and deduction for such fiscal year.
Partially Adjusted Capital Account means, with respect to any Partner and any Fiscal Year, the Capital Account of such Partner at the beginning of such Fiscal Year, adjusted as set forth in Section 4.3 hereof for all contributions and distributions during such year and all Required Allocations with respect to such Fiscal Year, but before giving effect to any allocation of Net Income and Net Loss for such Fiscal Year pursuant to Section 5.1 hereof;
Examples of Partially Adjusted Capital Account in a sentence
No portion of the Profits for any Fiscal Year shall be allocated to a Member whose Partially Adjusted Capital Account is greater than or equal to its Target Capital Account for such Fiscal Year.
No portion of the Net Profits for any taxable year shall be allocated to a Member whose Partially Adjusted Capital Account is greater than or equal to such Member's Target Capital Account for such Fiscal Year.
No portion of the Net Losses for any taxable year shall be allocated to a Member whose Partially Adjusted Capital Account is less than or equal to such Member's Target Capital Account for such Fiscal Year.
No portion of Profits or Losses for any Fiscal Year shall be allocated to a Partner, in the case of Profits, whose Partially Adjusted Capital Account is greater than its Target Capital Account or, in the case of Losses, whose Target Capital Account is greater than or equal to its Partially Adjusted Capital Account for such Fiscal Year.
No portion of the Losses for any Fiscal Year shall be allocated to a Member whose Target Capital Account is greater than or equal to its Partially Adjusted Capital Account for such Fiscal Year.
More Definitions of Partially Adjusted Capital Account
Partially Adjusted Capital Account means, with respect to any Member for any Fiscal Year, the Capital Account balance of such Member at the beginning of such period, adjusted as set forth in the definition of Capital Account for all contributions and distributions during such period and all special allocations pursuant to Section 7.3 with respect to such period but before giving effect to any allocation with respect to such period pursuant to Section 7.2.
Partially Adjusted Capital Account means with respect to any Partner as of the last day of any Accounting Period, the Capital Account of such Partner as of the beginning of the Accounting Period ending on such date, adjusted as set forth in Section 7.3 to reflect (a) all contributions made by and distributions made to such Partner during the Accounting Period ending on such date and (b) all allocations of items of Company income, gain, loss or expense made for such Accounting Period pursuant to Sections 7.5-7.8, but (c) before giving effect to any allocation of Net Profit or Net Loss made for such Accounting Period pursuant to Section 7.5.
Partially Adjusted Capital Account means, with respect to any Partner as of the close of business on an Adjustment Date, the Capital Account of such Partner as of the beginning of the applicable accounting period ending on such Adjustment Date, after giving effect to all allocations of items of income, gain, loss or deduction not included in the definition of “Profits” or “Losses” and all Capital Contributions and distributions during such period but before giving effect to any allocations of Profits and Losses for such period pursuant to Section 6.2.1, increased by (i) such Partner’s share of “partnership minimum gain” (as determined pursuant to Regulations Section 1.704-2(g)) as of the end of such period and (ii) such Partner’s share of “partner nonrecourse debt minimum gain” (as determined pursuant to Regulations Section 1.704-2(i)) as of the end of such period.
Partially Adjusted Capital Account means with respect to any Partner for any period, the Capital Account of such Partner at the beginning of such period, adjusted for all Capital Contributions and distributions during such period and all special allocations pursuant to Exhibit E, but before giving effect to any allocations of Net Profit or Net Loss pursuant to Section 6.1.
Partially Adjusted Capital Account means with respect to any Partner for any taxable year, the Capital Account of such Partner at the beginning of such taxable year, increased by all contributions during such year and all special allocations of income and gain pursuant to the last paragraph of Section 4.4 and Section 4.5 with respect to such taxable year, and decreased by all distributions during such taxable year and all special allocations of losses and deductions pursuant to the last paragraph of Section 4.4 and Section 4.5, but before giving effect to any allocation of Profits or Losses for such taxable year pursuant to Section 4.4(a) and (b).
Partially Adjusted Capital Account means, with respect to any Member for any Taxable Year or other period of the Company, the Capital Account balance of such Member at the beginning of such year or period, adjusted for all contributions and distributions during such year or period and all special allocations pursuant to Section 6.02 with respect to such year or period.
Partially Adjusted Capital Account means with respect to any Member for any Fiscal Year, the Capital Account of such Member at the beginning of such Fiscal Year, increased by all contributions during such year and all special allocations of income and gain pursuant to Section 6.3 of this Agreement and Section 1.2 of Appendix 1 with respect to such Fiscal Year, and decreased by all distributions during such fiscal year and all special allocations of losses and deductions pursuant to Section 6.3 of this Agreement and Section 1.2 of Appendix 1, but before giving effect to any allocation of Profits or Losses for such Fiscal Year pursuant to Section 6.1 and Section 6.2.