Capital Accounts and Allocations. (a) A separate capital account (a "Capital Account") shall be maintained on the Partnership's books for each Partner. In the event any Interest is transferred in accordance with the terms of this Agreement, the transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred Interest.
Appears in 3 contracts
Sources: Partnership Agreement (Mercury Air Group Inc), Partnership Agreement (Mercury Air Group Inc), Partnership Agreement (Fk Partners)