Common use of General Rules for Adjustment of Capital Accounts Clause in Contracts

General Rules for Adjustment of Capital Accounts. The Capital Account of each Member shall be: 3.5.1 INCREASES. Increased by: (i) Such Member's cash contributions; (ii) The agreed fair market value of property contributed by such Member (net of liabilities secured by such contributed property that the LLC is considered to assume or take subject to under Code Section 752); (iii) All items of LLC income and gain (including income and gain exempt from tax) allocated to such Member pursuant to Article 4 or other provisions of this Agreement; and