Capital Account Adjustments. (a) Notwithstanding any provision in this Agreement to the contrary, each Member's Capital Account shall be maintained and adjusted in accordance with the Code and the Treasury Regulations thereunder, including without limitation (i) the adjustments permitted or required by Code Section 704(b) and (ii) the adjustments required to maintain Capital Accounts in accordance with the "substantial economic effect test" set forth in the Treasury Regulations under Code Section 704(b).
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Energy Conversion Devices Inc), Limited Liability Company Agreement (Energy Conversion Devices Inc), Operating Agreement (Energy Conversion Devices Inc)
