Common use of Book Capital Accounts Clause in Contracts

Book Capital Accounts. A capital account (the “Book Capital Account”) for each Member shall be maintained at all times during the term of the Company in accordance with this Section 1.2 and the capital accounting rules set forth in Section 1.704-1(b)(2)(iv) of the Income Tax Regulations, as the same may be amended from time to time (“Income Tax Regulations”). The Company shall make all adjustments required by said Section 1.704-1(b)(2)(iv), including the adjustments contained in Section 1.704-1(b)(2)(iv)(g) of the Income Tax Regulations (relating to “Section 704(c) Property”, as defined in Section 2.3B(1) of this Exhibit). In the event that at any time during the term of the Company it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section 1.2, then said accounts shall be retroactively adjusted so that the same shall conform to this Section 1.2.

Appears in 2 contracts

Samples: Loan Termination Agreement, Loan Termination Agreement (Thomas Properties Group Inc)

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Book Capital Accounts. A capital account (the "Book Capital Account") for each Member Partner shall be maintained at all times during the term of the Company Partnership in accordance with this Section 1.2 and the capital accounting rules set forth in Section 1.704-1(b)(2)(iv) of the Income Tax Regulations, as the same may be amended from time to time (“Income Tax "Regulations"). The Company Partnership shall make all adjustments required by said Section 1.704-1(b)(2)(iv), including including, without limitation, the adjustments contained in Section 1.704-1(b)(2)(iv)(g) of the Income Tax Regulations (relating to "Section 704(c) Property", as defined in Section 2.3B(1) of this ExhibitExhibit "B"). In the event that at any time during the term of the Company Partnership it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section 1.2, then said accounts shall be retroactively adjusted so that the same shall conform to this Section 1.2.

Appears in 1 contract

Samples: Limited Partnership Agreement (Ridgewood Properties Inc)

Book Capital Accounts. A capital account (the “Book Capital Account”) for each Member shall be maintained at all times during the term of the Company in accordance with this Section 1.2 and the capital accounting rules set forth in Section 1.704-1(b)(2)(iv) of the Income Tax Regulations, as the same may be amended from time to time (“Income Tax Regulations”). The Company shall make all adjustments required by said Section 1.704-1(b)(2)(iv), including including, without limitation, the adjustments contained in Section 1.704-1(b)(2)(iv)(g) of the Income Tax Regulations (relating to “Section 704(c) Property”, as defined in Section 2.3B(1) of this ExhibitAppendix “A”). In the event that at any time during the term of the Company it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section 1.2, then said accounts shall be retroactively adjusted so that the same shall conform to this Section 1.2.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Tejon Ranch Co)

Book Capital Accounts. A capital account (the “Book Capital Account”) for each Member shall be maintained at all times during the term of the Company in accordance with this Section 1.2 1(b) and the capital accounting rules set forth in Section 1.704-1(b)(2)(iv) of the Income Tax Regulations, as the same may be amended from time to time (“Income Tax Regulations”). The Company shall make all adjustments required by said Section 1.704-1(b)(2)(iv), including including, without limitation, the adjustments contained in Section 1.704-1(b)(2)(iv)(g) of the Income Tax Regulations (relating to Section 704(c) Property”, as defined in Section 2.3B(1) of this Exhibitproperty). In the event that at any time during the term of the Company beginning on the day immediately following the Effective Date it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section 1.21(b), then said accounts shall be retroactively adjusted so that the same shall conform to this Section 1.21(b).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Charter Communications Inc /Mo/)

Book Capital Accounts. A capital account (the “Book Capital Account”) for each Member shall be maintained at all times during the term of the Company in accordance with this Section 1.2 and the capital accounting rules set forth in Section 1.704-1(b)(2)(iv1.704‑1(b)(2)(iv) of the Income Tax Regulations, as the same may be amended from time to time (“Income Tax Regulations” (as defined in Section 2.4C of this Exhibit). The Company shall make all adjustments required by said Section 1.704-1(b)(2)(iv1.704‑1(b)(2)(iv), including the adjustments contained in Section 1.704-1(b)(2)(iv)(g1.704‑1(b)(2)(iv)(g) of the Income Tax Regulations (relating to “Section 704(c) Property”, as defined in Section 2.3B(1) of this Exhibit). In the event that at any time during the term of the Company it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section 1.2, then said accounts shall be retroactively adjusted so that the same shall conform to this Section 1.2.

Appears in 1 contract

Samples: Operating Agreement (Thomas Properties Group Inc)

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Book Capital Accounts. A capital account (the "Book --------------------- Capital Account') for each Member shall be established and maintained at all times during the term of the Company in accordance with this Section 1.2 and the capital accounting account maintenance rules set forth in Section Sections 1.704-1(b)(2)(iv1 (b)(2)(iv) and 1.704-2 of the Income Tax Regulations, as the same may be amended from time to time ("Income Tax Regulations”). The Company shall make all adjustments required by said Section 1.704-1(b)(2)(iv), including the adjustments contained in Section 1.704-1(b)(2)(iv)(g) of the Income Tax Regulations (relating to “Section 704(c) Property”, as defined in Section 2.3B(1) of this Exhibit"). In the event that at any time during the term of the Company it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section 1.2, then said accounts shall be retroactively adjusted so that the same shall conform Conform to this Section 1.2.

Appears in 1 contract

Samples: Agreement (Overseas Partners LTD)

Book Capital Accounts. A capital account (the “Book Capital Account”) for each Member shall be maintained at all times during the term of the Company in accordance with this Section 1.2 and the capital accounting rules set forth in Section 1.704-1(b)(2)(iv) of the Income Tax Regulations, as the same may be amended from time to time (“Income Tax Regulations”). The Company shall make all adjustments required by said Section 1.704-1(b)(2)(iv), including the adjustments contained in Section 1.704-1(b)(2)(iv)(g) of the Income Tax Regulations (relating to “Section 704(c) Property”, as defined in Section 2.3B(1) of this ExhibitAppendix). In the event that at any time during the term of the Company it shall be determined that the Book Capital Accounts shall not have been maintained as required by this Section 1.2, then said accounts shall be retroactively adjusted so that the same shall conform to this Section 1.2.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Tejon Ranch Co)

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