Allocation of Net Profits from Operations Sample Clauses

Allocation of Net Profits from Operations. (a) The Net Profits of the Company for each Fiscal Year shall be allocated as follows: (i) First, to the Advisory Member in an amount equal to a cumulative return of 1.5% per annum on all Capital Contributions provided that for any period in which the Advisory Member does not serve as Investment Advisor pursuant to an investment advisory arrangement that has been approved according to the applicable provisions of the 1940 Act, the Advisory Member shall be receive an annual allocation based on a percentage equal to the days the Advisory Member served as Investment Advisor pursuant to a duly approved investment advisory arrangement divided by 365 days; (ii) Second, to the holders of the Preferred Interests in accordance with the Certificate of Designation; (iii) Third, to the Members other than the Advisory Member who have negative balances in their Capital Accounts, in proportion to the respective amounts of such negative balances; and (iv) Fourth, to the Members other than the Advisory Member pro rata in accordance with such Member's respective Capital Accounts. (b) All provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with the Code and Treasury Regulations thereunder and shall be interpreted and applied in a manner consistent with such law. Upon notification to the Members, the Managers shall make any necessary modifications to this Section 7.3 in the event unanticipated events occur that might otherwise cause this Agreement not to comply with such law or any changes thereto.
Sample 1
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Allocation of Net Profits from Operations. (a) The Net Profits of the Partnership for each Fiscal Year shall be allocated as follows: (i) First, to the holders of the Preferred Interests, if any, in accordance with the Certificate of Designation; (ii) Second, to the Partners, other than the holders of the Preferred Interests, if any, who have negative balances in their Capital Accounts, in proportion to the respective amounts of such negative balances; and (iii) Third, to the Partners, other than the holders of the Preferred Interests, if any, pro rata in accordance with such Partner's respective Capital Accounts. (b) All provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with the Code and Treasury Regulations thereunder and shall be interpreted and applied in a manner consistent with such law. Upon notification to the Partners, the Directors shall make any necessary modifications to this Section 7.3 in the event unanticipated events occur that might otherwise cause this Agreement not to comply with such law or any changes thereto.
Sample 1

Related to Allocation of Net Profits from Operations

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • Allocation of Net Income and Net Loss Net Income or Net Loss of the Partnership shall be determined as of the end of each calendar year and as of the end of any interim period extending through the day immediately preceding any (i) disproportionate Capital Contribution, (ii) disproportionate distribution, (iii) Transfer of a Partnership Interest in accordance with the terms of this Agreement, or (iv) Withdrawal Event. If a calendar year includes an interim period, the determination of Net Income or Net Loss for the period extending through the last day of the calendar year shall include only that period of less than twelve (12) months occurring from the day immediately following the last day of the latest interim period during the calendar year and extending through the last day of the calendar year. For all purposes, including income tax purposes, Net Income, if any, of the Partnership for each calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period. In the event of a Net Loss for a particular calendar year or interim period, then, for such calendar year or interim period, the Net Loss for such calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Allocations of Net Profits and Net Losses Except as otherwise set forth herein, Net Profits and Net Losses shall be allocated for each Fiscal Year to the Members in proportion to their respective Capital Accounts.

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • Allocations of Net Income and Net Loss Except as otherwise provided in this Agreement, after giving effect to the special allocations in subparagraph 1(c) and paragraph 2, Net Income, Net Loss and, to the extent necessary, individual items of income, gain, loss or deduction, of the Partnership for each fiscal year or other applicable period of the Partnership shall be allocated among the General Partner and Limited Partners in accordance with their respective Percentage Interests.

  • Allocation of Profit and Loss Section 5.01 of the Partnership Agreement is hereby deleted in its entirety and the following new Section 5.01 is inserted in its place:

  • Allocation of Profit or Loss All Profit or Loss shall be allocated to the Member.

  • Profits and Losses Distributions Until the admission of additional Members, the Original Member shall be entitled to all allocations of LLC profits and losses and to allocations of distributions.

  • Net Losses After giving effect to the special allocations set forth in Section 6.1(d), Net Losses for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Losses for such taxable period shall be allocated as follows: (i) First, 2% to the General Partner, and 98% to the Unitholders, Pro Rata, until the aggregate Net Losses allocated pursuant to this Section 6.1(b)(i) for the current taxable year and all previous taxable years is equal to the aggregate Net Income allocated to such Partners pursuant to Section 6.1(a)(iii) for all previous taxable years, provided that the Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable year (or increase any existing deficit balance in its Adjusted Capital Account); (ii) Second, 2% to the General Partner, and 98% to the Unitholders, Pro Rata; provided, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(ii) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable year (or increase any existing deficit balance in its Adjusted Capital Account); (iii) Third, the balance, if any, 100% to the General Partner.

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