Common use of Adjusted Capital Account Deficit Clause in Contracts

Adjusted Capital Account Deficit. An allocation of Losses under Section 4.2(a), Section 4.2(b), or Section 4.2(c), shall not be made to the extent it would create or increase an Adjusted Capital Account Deficit for any Member at the end of any Fiscal Year. Any Losses not allocated because of the preceding sentence shall be allocated to the other Members in proportion to such Members' respective Percentage Interests; provided, however, that to the extent such allocation would create or increase an Adjusted Capital Account Deficit for another Member at the end of any Fiscal Year, such allocation shall be made to the remaining Members in proportion to the respective Percentage Interests of such Members.

Appears in 1 contract

Samples: Operating Agreement (Sterling Construction Co Inc)

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Adjusted Capital Account Deficit. An allocation of Losses under Section 4.2(a), ) or Section 4.2(b), or Section 4.2(c), ) hereof shall not be made to the extent it would create or increase an Adjusted Capital Account Deficit for any a Member or Members at the end of any Fiscal Year. Any Losses not allocated because of the preceding sentence shall be allocated to the other Member or Members in proportion to such Member's or Members' respective Percentage Interests; provided, however, that to the extent such allocation would create or increase an Adjusted Capital Account Deficit for another Member or Members at the end of any Fiscal Year, such allocation shall be made to the remaining Member or Members in proportion to the respective Percentage Interests of such Member or Members.

Appears in 1 contract

Samples: Operating Agreement (Wynn Resorts LTD)

Adjusted Capital Account Deficit. An allocation of Net Losses under Section 4.2(a), Section 4.2(b), 6.2.1 or Section 4.2(c), 6.2.2 hereof shall not be made to the extent it would create or increase an Adjusted Capital Account Deficit for any a Member or Members at the end of any Fiscal Year. Any Net Losses not allocated because of the preceding sentence shall be allocated to the other Member or Members in proportion to such Member’s or Members' respective Percentage Interests; provided, however, that to the extent such allocation would create or increase an Adjusted Capital Account Deficit for another Member or Members at the end of any Fiscal Year, such allocation shall be made to the remaining Member or Members in proportion to the respective Percentage Interests of such Member or Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Charter Communications Inc /Mo/)

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Adjusted Capital Account Deficit. An allocation of Net Losses under Section 4.2(a), Section 4.2(b), 6.2.1 or Section 4.2(c), 6.2.2 hereof shall not be made to the extent it would create or increase an Adjusted Capital Account Deficit for any a Member or Members at the end of any Fiscal Year. Any Net Losses not allocated because of the preceding sentence shall be allocated to the other Member or Members in proportion to such Member’s or Members' respective Percentage InterestsAdjusted Capital Accounts; provided, however, that to the extent such allocation would create or increase an Adjusted Capital Account Deficit for another Member or Members at the end of any Fiscal Year, such allocation shall be made to the remaining Member or Members in proportion to the respective Percentage Interests Adjusted Capital Accounts of such Member or Members.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Lions Gate Entertainment Corp /Cn/)

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