Comcast 2010 Annual Report Download - page 237

No Member shall have priority over any other Member either as to the return of the amount of such Member
’s Capital Contributions or as to any
allocation of any item of income, gain, loss, deduction or credit of the Company (except to the extent granted by Company Securities hereinafter
approved by the Board pursuant to Section 3.03(b), subject to Section 4.10(a)).
Section 3.05. Capital Accounts .
(a) A capital account (a “ Capital Account ”) shall be maintained for each Member in accordance with the requirements of Section 704(b)
of the Code and the Treasury Regulations promulgated thereunder. The Capital Account of each such Member shall be equal to the amount of
the Capital Contributions made by such Member in exchange for such Member’s Units, and thereafter adjusted as follows:
(i) increased by the Additional Capital Contributions made, and any capital contributions deemed pursuant to Section 8.01(c)(x) to
be made, by such Member after the date of this Agreement with respect to such Units;
(ii) increased by items of income or gain which are allocated to such Member with respect to such Units under Article 8 and Article
12;
(iii) decreased by the items of loss and deduction which are allocated to the Member in respect of such Units under Article 8 and
Article 12; and
(iv) decreased by the amount of any cash and the Gross Asset Value of any asset of the Company distributed to such Member in
respect of such Units (net of any liability assumed by the Member or to which the distributed property is subject).
(b) Upon a Transfer of any Units in accordance with the terms of this Agreement, the transferee Member shall succeed to the Capital
Account of the transferor which is attributable to such Units.
(c) The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts shall be applied in
accordance with Treasury Regulations Sections 1.704-1(b) and 1.704-2.
Section 3.06. No Interest . No interest shall be paid on Capital Contributions or on the balance in a Member’s Capital Account.
Section 3.07. Preemptive Rights . (a) The Company shall give Comcast and HoldCo written notice (an “ Issuance Notice ”) of any
proposed issuance by the Company of any Company Securities at least 20 Business Days prior to the
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