Common use of Allocation of Excess Protected Gain among Protected Partners Clause in Contracts

Allocation of Excess Protected Gain among Protected Partners. For each Gain Limitation Year, the Excess Protected Gain (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.1) will be allocated among Protected Partners in proportion to their Unadjusted Protected Gain Percentages (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.1) for purposes of determining the amount of Protected Gain recognized by a Protected Partner that is subject to reimbursement pursuant to Article 4 hereof (for purpose of Article 4, the calculations of gain recognized by a Protected Partner and the reimbursement required shall be based upon the actual gain recognized by such Protected Partner without regard to the principles set forth in the parenthetical in the first paragraph of Section 2.1). Specifically, for each Gain Limitation Year, the amount of Protected Gain for which a Protected Partner may be reimbursed under Article 4 hereof will equal the product of (a) the Protected Partner’s Unadjusted Protected Gain Percentage (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.1), multiplied by (b) the Excess Protected Gain for such Gain Limitation Year (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.1); provided, however, that no Protected Partner shall be considered for this purpose to have recognized an amount of Protected Gain for a Gain Limitation Year that exceeds the Protected Gain actually recognized by such Protected Partner with respect to such Gain Limitation Year (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.1), and provided further, that the Protected Gain for which other Protected Partners are entitled to reimbursement shall be increased by the portion of the Excess Protected Gain for such year not allocated to Protected Partners by reason of the immediately preceding limitation (with such allocation to be in accordance with the Protected Gain recognized by the Protected Partners not subject to such limitation). Schedule 2.3 hereto sets forth an example that illustrates the application of this Section 2.3.

Allocation of Excess Protected Gain among Protected Partners. For each Gain Limitation Year, the Excess Protected Gain (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.13.1) will be allocated among Protected Partners in proportion to their Unadjusted Protected Gain Percentages (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.13.1) for purposes of determining the amount of Protected Gain recognized by a Protected Partner that is subject to reimbursement pursuant to Article 4 5 hereof (for purpose of Article 45, the calculations of gain recognized by a Protected Partner and the reimbursement required shall be based upon the actual gain recognized by such Protected Partner without regard to the principles set forth in the parenthetical in the first paragraph of Section 2.13.1). Specifically, for each Gain Limitation Year, the amount of Protected Gain for which a Protected Partner may be reimbursed under Article 4 5 hereof will equal the product of (a) the Protected Partner’s Unadjusted Protected Gain Percentage (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.13.1), multiplied by (b) the Excess Protected Gain for such Gain Limitation Year (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.13.1); provided, however, that no Protected Partner shall be considered for this purpose purposes of Article 5 to have recognized an amount of Protected Gain for a Gain Limitation Year that exceeds the Protected Gain actually recognized by such Protected Partner with respect to such Gain Limitation Year (computed in accordance with the principles set forth in the parenthetical in the first paragraph of Section 2.13.1), and provided further, that the Protected Gain for which other Protected Partners are entitled to reimbursement shall be increased by the portion of the Excess Protected Gain for such year not allocated to Protected Partners by reason of the immediately preceding such limitation (with such allocation to be in accordance with the Protected Gain recognized by the Protected Partners not subject to such limitation). Schedule 2.3 3.3 hereto sets forth an example that illustrates the application of this Section 2.33.3.