ALLOCATION OF LOSSES IN EXCESS OF CAPITAL ACCOUNT. The amount of any Net Loss in excess of any then positive balance in the Capital Account of a Limited Partner, which would be allocable to a Limited Partner but for this Section 8.03, shall be allocated to the Managing General Partners. Thereafter, Net Profit otherwise allocable to that Limited Partner pursuant to Section 8.01 first shall be allocated to the Managing General Partners until an amount of Net Profit equal to such amount of Net Loss previously allocated pursuant to this Section 8.03 has been allocated to the Managing General Partners.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Technology Funding Venture Partners V), Limited Partnership Agreement (Technology Funding Partners Iii L P), Limited Partnership Agreement (Technology Funding Venture Partners Iv)
