Contributed Capital. (a) The Company shall maintain for each Member an account to be designated its “Contributed Capital”. The Contributed Capital account of each Initial Member shall be equal to its Initial Capital Contribution (including the amount attributed to any non-cash assets provided as Capital Contributions, as set forth in Schedule 3.01) to which shall be added any Subsequent Capital Contributions. The Contributed Capital account of any Additional Member that is not a Permitted Transferee of a Member shall be equal to (x) its initial Capital Contribution (including the amount attributed to any non-cash assets provided as Capital Contributions) or (y) such other amount, if any, as may be determined by the Members at the time such Additional Member is admitted as a Member, to which shall be added any Subsequent Capital Contribution. A Member’s Contributed Capital account shall be reduced by (i) the amount of cash distributed to the Member by the Company and (ii) the fair market value of any property distributed to the Member by the Company (as such property and its fair market value are agreed to by such Member and the Company Board)[**]. (b) Each Member shall have a single Contributed Capital account which shall reflect all of its Membership Interests in the Company. If any Member transfers its Membership Interest in the Company pursuant to the terms of this Agreement, the transferee shall succeed to the Contributed Capital account of the transferor. The Company will maintain records to enable separate identification of Capital Contributions and Distributions to the extent related to separate Membership Interests. (c) A Member’s “Pro Rata Portion” at any date of determination shall be the percentage obtained by dividing (A) the amount of such Member’s Contributed Capital account as of such date by (B) the aggregate amount of all Contributed Capital accounts of the Members as of such date, [**].
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Contributed Capital. (a) The Company shall maintain for each Member an account to be designated its “Contributed Capital”. The Contributed Capital account of each Initial Member shall be equal to its Initial Capital Contribution (including the amount attributed to any non-cash assets provided as Capital Contributions, as set forth in Schedule 3.01) to which shall be added any Subsequent Capital Contributions. The Contributed Capital account of any Additional Member that is not a Permitted Transferee of a Member shall be equal to (x) its initial Capital Contribution (including the amount attributed to any non-cash assets provided as Capital Contributions) or (y) such other amount, if any, as may be determined by the Members at the time such Additional Member is admitted as a Member, to which shall be added any Subsequent Capital Contribution. A Member’s Contributed Capital account shall be reduced by (i) the amount of cash distributed to the Member by the Company and (ii) the fair market value of any property distributed to the Member by the Company (as such property and its fair market value are agreed to by such Member and the Company Board)[**].
(b) Each Member shall have a single Contributed Capital account which shall reflect all of its Membership Interests in the Company. If any Member transfers its Membership Interest in the Company pursuant to the terms of this Agreement, the transferee shall succeed to the Contributed Capital account of the transferor. The Company will maintain records to enable separate identification of Capital Contributions and Distributions to the extent related to separate Membership Interests.
(c) A Member’s “Pro Rata Portion” at any date of determination shall be the percentage obtained by dividing (A) the amount of such Member’s Contributed Capital account as of such date by (B) the aggregate amount of all Contributed Capital accounts of the Members as of such date, [**].
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