Common use of Additional Allocations Clause in Contracts

Additional Allocations. The following special allocations shall be made: (a) If the Company has Profits for any Fiscal Year (determined before giving effect to any allocation pursuant to this Section C.4.8(a)), any Member whose Partially Adjusted Capital Account is greater than its Target Capital Account for such Fiscal Year shall be specially allocated items of Member deduction or loss for such Fiscal Year equal to the difference between its Target Capital Account and its Partially Adjusted Capital Account. In the event the Company has insufficient items of deduction and loss for such Fiscal Year to satisfy the previous sentence with respect to all such Members, the available items of deduction and loss shall be divided among such Members in proportion to their differences. (b) If the Company has a Loss for any Fiscal Year (determined prior to giving effect to any allocation pursuant to this Section C.4.8(b)), any Member whose Target Capital Account is greater than its Partially Adjusted Capital Account for such Fiscal Year shall be specially allocated items of Company income or gain for such Fiscal Year equal to the difference between its Partially Adjusted Capital Account and Target Capital Account. In the event the Company has insufficient items of income or gain for such Fiscal Year to satisfy the previous sentence with respect to all such Members, the available items of income or gain shall be divided among such Members in proportion to such differences.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Linn Energy, LLC), Limited Liability Company Agreement

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Additional Allocations. The following special allocations shall be made: (a) If the Company has Profits for any Fiscal Year (determined before giving effect to any allocation pursuant to this Section C.4.8(aA.4.4(a)), any Member whose Partially Adjusted Capital Account is greater than its Target Capital Account for such Fiscal Year shall be specially allocated items of Member deduction or loss for such Fiscal Year equal to the difference between its Target Capital Account and its Partially Adjusted Capital Account. In the event the Company has insufficient items of deduction and loss for such Fiscal Year to satisfy the previous sentence with respect to all such Members, the available items of deduction and loss shall be divided among such Members in proportion to their differences. (b) If the Company has a Loss for any Fiscal Year (determined prior to giving effect to any allocation pursuant to this Section C.4.8(bA.4.4(b)), any Member whose Target Capital Account is greater than its Partially Adjusted Capital Account for such Fiscal Year shall be specially allocated items of Company income or gain for such Fiscal Year equal to the difference between its Partially Adjusted Capital Account and Target Capital Account. In the event the Company has insufficient items of income or gain for such Fiscal Year to satisfy the previous sentence with respect to all such Members, the available items of income or gain shall be divided among such Members in proportion to such differences.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Jagged Peak Energy Inc.)

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Additional Allocations. The following special allocations shall be made: (a) If the Company has Profits for any Fiscal Year (determined before giving effect to any allocation pursuant to this Section C.4.8(aA.4.9(a)), any Member whose Partially Adjusted Capital Account is greater than its Target Capital Account for such Fiscal Year shall be specially allocated items of Member deduction or loss for such Fiscal Year equal to the difference between its Target Capital Account and its Partially Adjusted Capital Account. In the event the Company has insufficient items of deduction and loss for such Fiscal Year to satisfy the previous sentence with respect to all such Members, the available items of deduction and loss shall be divided among such Members in proportion to their differences. (b) If the Company has a Loss for any Fiscal Year (determined prior to giving effect to any allocation pursuant to this Section C.4.8(bA.4.9(b)), any Member whose Target Capital Account is greater than its Partially Adjusted Capital Account for such Fiscal Year shall be specially allocated items of Company income or gain for such Fiscal Year equal to the difference between its Partially Adjusted Capital Account and Target Capital Account. In the event the Company has insufficient items of income or gain for such Fiscal Year to satisfy the previous sentence with respect to all such Members, the available items of income or gain shall be divided among such Members in proportion to such differences.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Jagged Peak Energy Inc.)

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