Common use of Allocation of Profits and Losses Generally Clause in Contracts

Allocation of Profits and Losses Generally. Except as provided in 4.3 ------------------------------------------ through 4.12, Profits or Losses, as the case may be, for each Fiscal Year will be allocated to the Members as follows: [a] Profits will be allocated: [i] first, as to Profits allocated subsequent to the Preferred Allocation Date (as defined in the Parent Operating Agreement), 99% to the Parent Member, 0.5% to the LMC Member, and 0.5% to the Fox Member until the allocation required under 4.2[a][i] of the Parent Operating Agreement has been completed; [ii] second, as to Profits allocated in any Fiscal Year, to the Members to the extent of, and in proportion to, Losses previously allocated to such Members pursuant to 4.2[b][iii]. To the extent that a prior allocation of Losses has been offset by a prior allocation of Profits pursuant to this 4.2[a][ii], Profits will not be further allocated under this 4.2[a][ii] to offset such Losses; and [iii] thereafter, as to Profits allocated in any Fiscal Year, to the Members in proportion to their Ownership Interests. [b] Losses will be allocated: [i] first, as to Losses allocated subsequent to the Preferred Allocation Date (as defined in the Parent Operating Agreement), 99% to the Parent Member, 0.5% to the LMC Member), and 0.5% to the Fox Member until the cumulative amount so allocated for all Fiscal Years equals the cumulative amount of Profits previously allocated under 4.2[a][i] above; [ii] second, as to Losses allocated in any Fiscal Year, to the Members to the extent of, and in proportion to, Profits previously allocated to such Members pursuant to 4.2[a][iii]. To the extent that a prior allocation of Profits has been offset by a prior allocation of Losses pursuant to this 4.2[b][ii], Losses will not be further allocated under this 4.2[b][ii] to offset such Profits; and [iii] thereafter, as to Losses allocated in any Fiscal Year, to the Members in proportion to their Ownership Interests.

Allocation of Profits and Losses Generally. Except as provided in 4.3 ------------------------------------------ through 4.124.13, Profits or Losses, as the case may be, for each Fiscal Year will be allocated to the Members as follows: [a] Profits will be allocated: [i] first, as to Profits allocated subsequent to the Preferred Allocation Date (as defined in the Parent Operating Agreement)Date, 99% to the Parent Member, 0.5% to the LMC Member, and 0.5100% to the Fox Member until the allocation required cumulative amount so allocated for all Fiscal Years (net of cumulative Losses allocated to the Fox Member under 4.2[a][i] of 4.2[b][i]) is equal to the Parent Operating Agreement has been completedFox Preferred Amount; [ii] second, as to Profits allocated in any Fiscal Year, to the Members to the extent of, and in proportion to, Losses previously allocated to such Members pursuant to 4.2[b][iii]. To the extent that a prior allocation of Losses has been offset by a prior allocation of Profits pursuant to this 4.2[a][ii], Profits will not be further allocated under this 4.2[a][ii] to offset such Losses; and [iii] thereafter, as to Profits allocated in any Fiscal Year, to the Members in proportion to their Ownership Interests. [b] Losses will be allocated: [i] first, as to Losses allocated subsequent to the Preferred Allocation Date (as defined in the Parent Operating Agreement)Date, 99% to the Parent Member, 0.5% to the LMC Member), and 0.5100% to the Fox Member until the cumulative amount so allocated for all Fiscal Years equals is equal to the cumulative amount of Profits previously allocated under pursuant to 4.2[a][i] above]; [ii] second, as to Losses allocated in any Fiscal Year, to the Members to the extent of, and in proportion to, Profits previously allocated to such Members pursuant to 4.2[a][iii]. To the extent that a prior allocation of Profits has been offset by a prior allocation of Losses pursuant to this 4.2[b][ii], Losses will not be further allocated under this 4.2[b][ii] to offset such Profits; and [iii] thereafter, as to Losses allocated in any Fiscal Year, to the Members in proportion to their Ownership Interests.