Common use of Creation and Maintenance Clause in Contracts

Creation and Maintenance. There shall be established on the books of the Partnership a capital account for each Partner (such Partner’s “Capital Account”) that shall be: (a) Increased by (1) any Contributions made to the Partnership by such Partner pursuant to this Agreement, (2) any part of a Default Charge added to the Capital Account of such Partner pursuant to Section 6.4.2, and (3) any amounts in the nature of income or gain added to the Capital Account of such Partner pursuant to Sections 8.2, 8.3, 8.4 or 8.5; and (b) Decreased by (1) any distributions made to such Partner, (2) any Default Charge subtracted from the Capital Account of such Partner pursuant to Section 6.4.2; and (3) any amounts in the nature of loss or expense subtracted from the Capital Account of such Partner pursuant to Sections 8.2, 8.3, 8.4 or 8.5.

Creation and Maintenance. There shall be established on the books of the Partnership a capital account for each Partner (such Partner’s the “Capital Account”) that shall be: (a) 8.1.1.1 Increased by (1) any Contributions capital contributions made to the Partnership by such Partner pursuant to this Agreement, (2) any part of a Default Charge added to the Capital Account of such Partner pursuant to Section 6.4.2, and (3) any amounts in the nature of income or gain from time to time added to the Capital Account of such Partner pursuant to Sections 8.2, 8.3, 8.4 or 8.5; and (b) 8.1.1.2 Decreased by (1) any distributions made to such Partner, (2) any Default Charge subtracted from the Capital Account of such Partner pursuant to Section 6.4.2; and (3) any amounts in the nature of loss or expense subtracted from the Capital Account of such Partner pursuant to Sections 8.2, 8.3, 8.4 or 8.5.