Allocation of Net Loss. Subject to Sections 10.03 through 10.18, net loss for any fiscal year or portion thereof shall be allocated among the Members as follows:
(a) First, to the holders of Preferred Shares in proportion of the number of Preferred Shares held by such holders to the extent of their positive Capital Account balances;
(b) Thereafter, to the Members in proportion to the number of Shares held by such Members (with each Preferred Share treated as the number of Common Shares into which such Preferred Share is then convertible) to the extent of their positive Capital Account balances; and
(c) Thereafter, to the Members in proportion to the number of Shares held by such Members (with each Preferred Share treated as the number of Common Shares into which such Preferred Share is then convertible).
Allocation of Net Loss. In the event the Cooperative shall incur a net loss in any calendar year, such loss will be charged against the Member’s capital accounts or other unallocated equity accounts. If the net loss exceeds such amounts, or in any event if the Board so determines, the amount of such loss must be carried forward to subsequent calendar years and allocated to members. Any such allocated net loss shall be charged first against unallocated equity accounts of prior calendar years and then against Member’s capital share allocations. Allocated net losses which are not offset will be charged against the carrying value of capital certificates only upon termination of membership.
Allocation of Net Loss. After giving effect to the special allocations set forth in Sections 8.2 and 8.3 and subject to the limitation set forth in Section 8.1(c), the Net Loss for any fiscal year of the Company shall be allocated among the Members as follows:
(i) First, among the Members to the extent of and in reverse order of the allocations of Net Profits pursuant to Section 8.1(a)(iii) (other than Net Profits allocated as the result of any revaluation of Company assets pursuant to Section 8.5(b)(ii));
(ii) Second, among the Members in proportion to their positive Adjusted Capital Account balances until all such Adjusted Capital Account balances are equal to zero; and
(iii) Third, among the Members in proportion to their Percentage Interests.
Allocation of Net Loss. After giving effect to the special allocations set forth in Section 4.3, Section 4.4 and Section 4.5 hereof, if there is a Net Loss for any Fiscal Year, such Net Loss shall be allocated as set forth in Section 4.1(a) below, subject to the limitations in Section 4.1(b) below:
(a) Net Loss for any Fiscal Year shall be allocated in the following order and priority:
(i) First, to the Members, proportionately until the aggregate Net Loss allocated to each Member pursuant to this Section 4.1(a)(i) equals the aggregate Net Profit allocated to each Member pursuant to Section 4.2, with Net Loss being allocated to offset such prior allocations of Net Profit in the reverse order in which the same were made;
(ii) The balance, if any, to the Members in proportion to their respective Percentage Interests.
(b) Notwithstanding the allocations set forth in Section 4.1(a), no amount of Net Loss shall be allocated to any Member if such allocation would cause such Member to have an Adjusted Capital Account Deficit. The amount of the allocation of Net Loss which would otherwise have caused a Member to have an Adjusted Capital Account Deficit shall instead be allocated to those Members who would not have an Adjusted Capital Account Deficit as a result of the allocation in proportion to their Percentage Interests. If no Member may be allocated a Net Loss without creating or increasing an Adjusted Capital Account Deficit, then all further Net Loss shall be allocated among the Members in accordance with their Percentage Interests.
Allocation of Net Loss. Except as otherwise provided in this Article 4, Net Loss shall be allocated among the Members as follows:
(i) first, to offset any Net Profits allocated pursuant to Section 4.1.1(i) hereof, and then to offset any Net Profits allocated pursuant to Section 4.1.1 (ii) hereof (in each case pro rata in proportion to their shares of Net Profits being offset);
(ii) second, in proportion to the positive balances, if any, in the Members' respective Capital Accounts, until such balances are reduced to zero; and
(iii) third, to the Members, pro rata, in accordance with their Percentage Interests; provided, however, that if, and to the extent that the allocation of Net Loss in this manner would cause a Member to have an Adjusted Capital Account Deficit at the end of the Fiscal Year, then such Net Loss shall instead be allocated to the Member who has the largest Percentage Interest.
Allocation of Net Loss. Subject to Sections 3.2(e)-(f), net loss shall be allocated between the Partners, pari passu, in accordance with their Ownership Percentages.
Allocation of Net Loss. Except as otherwise provided in this Article, Net Loss shall be allocated among the Members as follows:
(i) first, in proportion to the positive balances, if any, in the Members' respective Capital Accounts, until such balances are reduced to zero; and
(ii) thereafter, to the Members, in proportion to their Capital Contributions.
Allocation of Net Loss. Except as otherwise provided in the further provisions of this Article IV, Net Loss of the Company for any fiscal year shall be allocated as follows and in the following order of priority:
(a) First, to LVSI until its Capital Account balance has been reduced to zero;
(b) Second, to Interface Holding until its Capital Account balance has been reduced to zero; and
(c) Thereafter, to LVSI.
Allocation of Net Loss. After giving effect to the allocations described in Sections 10.4, 10.5, and 10.6 hereof, the Net Losses of the Company for each Fiscal Year shall be allocated for both financial reporting and tax purposes as follows:
(a) First, to the extent that Net Profits have been allocated to the Members under Section 10.1 for any prior Fiscal Year, Net Losses shall be allocated to the Members in the inverse order of priority to the manner in which such Net Profits were allocated, in proportion to and to the extent of the excess, if any, of the aggregate Net Losses allocated to such Members under Section 10.2 over the aggregate Net Profits previously allocated to such Members under this Section 10.2(a);
(b) Second, to the Class A Members in proportion to and to the extent of their respective positive Capital Account balances, if any;
(c) Third, to the Class B Member to the extent of its positive Capital Account balance, if any; and
(d) Fourth, the remainder to the Class A Members in proportion to their respective Membership Interests.
Allocation of Net Loss. After applying the provisions of Section 5.4 and except as otherwise provided in Section 9.9, Net Loss for any Adjustment Period will be allocated in the following order and priority:
(a) first, to the extent Net Profit has been allocated pursuant to Section 5.1(b) for prior Adjustment Periods, Net Loss shall be allocated to offset such previously allocated Net Profit (among the Partner(s) in proportion to their respective shares of the Net Profit being offset);
(b) second, if the General Partner's Land Equity Account (computed as of the close of the Adjustment Period) exceeds the cumulative amount previously allocated to the General Partner under this Subsection 5.2(b), then to the General Partner to the extent of the excess;
(c) third, to the Partners in proportion to and to the extent of their respective positive Capital Account balances until the Capital Account balance of each such Partner is reduced to zero; and
(d) fourth, to the General Partner.
