Common use of Account Balances Clause in Contracts

Account Balances. Except as otherwise provided in this Agreement, whenever it becomes necessary to ascertain the balance of any Partner’s Capital Account, such determination shall be made after giving effect to all allocations of Partnership income, gains, losses and deductions for the current year, and all distributions for such year, in each case in respect of transactions effected prior to the date as of which such determination is being made.

Account Balances. Except as otherwise provided in this Agreement, whenever it becomes necessary to ascertain the balance of any PartnerMember’s Capital Account, such determination shall be made after giving effect to all allocations of Partnership Company income, gainsgain, losses loss and deductions for the current year, and all distributions for such year, in each case in respect of transactions effected prior to the date as of which such determination is being made.