Common use of Deficit Capital Accounts Clause in Contracts

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Interests, upon termination of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 2 contracts

Samples: Company Agreement (Green America Recycling, LLC), Company Agreement (River Medical Inc)

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Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Interests, upon termination of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 2 contracts

Samples: Operating Agreement (GolfSuites 1, Inc.), s3.amazonaws.com

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the a deficit, if any, in the Capital Account of any Member results from or is attributable to (a) deductions and losses of the Company (including non-cash items such as depreciation), or (b) distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage InterestsMembers, upon termination dissolution of the Company such that deficit shall not be an asset of the Company and such Members that Member shall not be obligated to contribute such that amount to the Company to bring the balance of such that Member’s 's Capital Account to zero.

Appears in 2 contracts

Samples: Operating Agreement (United Grocers Inc /Or/), Operating Agreement (United Grocers Inc /Or/)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members ratably in proportion to their respective Percentage Membership Interests, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount any amounts to the Company to bring the balance of such Member’s Capital Account 's capital account to zero.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (El Paso Energy Partners Lp), El Paso Energy Partners Lp

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Membership Interests, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s member's Capital Account to zero; provided, however, that the obligations of the Members to make Subsequent Capital Contributions pursuant to Section 4.2 of this Agreement shall remain in effect.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Amtran Inc)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Operating Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account capital account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Operating Agreement to all Members in proportion to their respective Percentage InterestsSharing Ratios, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account 's capital account to zero.

Appears in 1 contract

Samples: Operating Agreement (Ashton Houston Residential L.L.C.)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members ratably in proportion to their respective Percentage InterestsMembership Interest, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount any amounts to the Company to bring the balance of such Member’s Capital Account 's capital account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (El Paso Energy Partners Lp)

Deficit Capital Accounts. Notwithstanding ___ anything to the contrary ___ contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Interests, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Primesource Corp)

Deficit Capital Accounts. Notwithstanding anything to the contrary ------------------------ contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage InterestsSharing Ratios, upon termination dissolution of the Company Company, such deficit shall not be an asset of the Company and such Members members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Operating Agreement (Bresler & Reiner Inc)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member Holder results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), ) or distributions of money pursuant to this Agreement to all Members Holders in proportion to their respective Percentage Interestsa manner consistent with Section 5.2 and Sections 12.2 and 12.3, upon termination dissolution of the Company such deficit shall not be an asset Asset of the Company and such Members Holders shall not be obligated to contribute such amount to the Company to bring the balance of such MemberHolder’s Capital Account capital account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Grede Wisconsin Subsidiaries LLC)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Interestsinterests, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account 's capital account to zero.

Appears in 1 contract

Samples: Operating Agreement (Mobile Medic Ambulance Service Inc)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account capital account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage InterestsSharing Rations, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account capital account to zero.

Appears in 1 contract

Samples: Operating Agreement (Interhealth Facility Transport, Inc.)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including including. non-cash items such as depreciation), or distributions of money pursuant to this this: Agreement to all Members in proportion to their respective Percentage Interests, upon termination ,dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 1 contract

Samples: Operating Agreement (Ryerson International Material Management Services, Inc.)

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Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account capital account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Membership Interests, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account Member?s capital account to zero.. ARTICLE X -

Appears in 1 contract

Samples: Operating Agreement (Sensory Performance Technology, Inc)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions Distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Membership Interests, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Operating Agreement (Continental Southern Resources Inc)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash non‐cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Interests, upon termination of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Company Agreement (Deeproot Growth Runs Deep Fund, LLC)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Intereststhe number of Units held by them, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s Capital Account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (FUND.COM Inc.)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the a deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Interests, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members Member shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Inovio Biomedical Corp)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage Interests, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Operating Agreement (Maverick Oil & Gas, Inc.)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses Losses of the Company (including non-cash items such as depreciation), or distributions of money pursuant to this Agreement to all Members in proportion to their respective Percentage InterestsSharing Ratios, upon termination dissolution of the Company such deficit shall not be an asset of the Company and such Members shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Operating Agreement (Piedmont Natural Gas Co Inc)

Deficit Capital Accounts. Notwithstanding anything to the contrary contained in this Agreement, Agreement and notwithstanding any custom or rule of law to the contrary, to the extent that the deficit, if any, in the Capital Account of any Member results from or is attributable to deductions and losses of the Company (including including, without limitation, non-cash items such as depreciation), or distributions of money or other assets pursuant to this Agreement to all Members in proportion to their respective Percentage InterestsUnits, upon termination dissolution of the Company such deficit shall not be an asset of the a Company Asset and such Members Member shall not be obligated to contribute such amount to the Company to bring the balance of such Member’s 's Capital Account to zero.

Appears in 1 contract

Samples: Operating Agreement (Entrade Inc)

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