Common use of Allocations of Gain and Loss Clause in Contracts

Allocations of Gain and Loss. A. Subject to the provisions of Section 4.10, Gain recognized by the Partnership shall be allocated (after giving effect to the allocations referred to in Sections 4.01 and 4.02 and all distributions other than distributions pursuant to Section 4.07B) with respect to any Fiscal Year in the following order of priority: (i) first, to all Partners whose Capital Accounts have negative balances, in the ratio of such negative balances until such negative balances are brought to zero; (ii) second, to the Limited Partners in the amount necessary to bring the aggregate of their Capital Account balances to an amount equal to 99% of the Capital Priority Amount and to the General Partner in the amount necessary to bring its Capital Account balance to an amount equal to 1% of the Capital Priority Amount; provided, however, that if there is insufficient Gain to bring such balances to such levels, then (a) Gain first shall be allocated so as to cause the ratio of the aggregate balance in the Capital Account of the Limited Partners to the General Partner's Capital Account balance to be 99 to 1 and (b) any remaining Gain allocable pursuant to this subsection (ii) shall be allocated 99% to the Limited Partners and 1% to the General Partner; and (iii) thereafter, any remaining Gain shall be allocated among the Partners so that, to the extent possible, the ratio of (A) the aggregate balance in the Capital Accounts of the Limited Partners in excess of 99% of the Capital Priority Amount to (B) the balance in the General Partner's Capital Account in excess of 1% of the Capital Priority Amount, is 80 to 20. B. Subject to the provisions of Section 4.10, Losses recognized by the Partnership shall be allocated (after giving effect to the allocations referred to in Sections 4.01 and 4.02 and all distributions other than distributions pursuant to Section 4.07B) with respect to any Fiscal Year in the following order of priority; (i) first, Losses shall be allocated to the Partners with positive Capital Account balances until all positive balances in the Partners' Capital Accounts shall have been eliminated, with such allocation being made in proportion to the outstanding positive Capital Account balances; and (ii) second, all remaining Losses shall be allocated 100% to the General Partner.

Allocations of Gain and Loss. A. Subject to the provisions of Section 4.10, Gain recognized by the Partnership shall be allocated (after giving effect to the allocations referred to in Sections 4.01 and 4.02 and all distributions other than distributions pursuant to Section 4.07B) with respect to any Fiscal Year in the following order of priority: (i) first, to all Partners whose Capital Accounts have negative balances, in the ratio of such negative balances until such negative balances are brought to zero; (ii) second, to the Limited Partners in the amount necessary to bring the aggregate of their Capital Account balances to an amount equal to 99% of the Capital Priority Amount and to the General Partner in the amount necessary to bring its Capital Account balance to an amount equal to 1% of the Capital Priority Amount; provided, however, that if there is insufficient Gain to bring such balances to such levels, then (a) Gain first shall be allocated so as to cause the ratio of the aggregate balance of the balances in the Capital Account Accounts of the Limited Partners to the General Partner's Capital Account Accounts balance to be 99 to 1 and (b) any remaining Gain allocable pursuant to this subsection (ii) shall be allocated 99% to the Limited Partners and 1% to the General Partner; and (iii) thereafter, any remaining Gain shall be allocated among the Partners so that, to the extent possible, the ratio of (A) the aggregate balance of the balances in the Capital Accounts of the Limited Partners in excess of 99% of the Capital Priority Amount to (B) the balance in the General Partner's Capital Account in excess of 1% of the Capital Priority Amount, Amount is 80 to 20. B. Subject to the provisions of Section 4.10, Losses recognized by the Partnership shall be allocated (after giving effect to the allocations referred to in Sections 4.01 and 4.02 and all distributions other than distributions pursuant to Section 4.07B) with respect to any Fiscal Year in the following order of priority;: (i) first, Losses shall be allocated to the Partners with positive Capital Account balances until all positive balances in the Partners' Capital Accounts shall have been eliminated, with such allocation being made in proportion to the outstanding positive Capital Account balances; and and (ii) second, all remaining Losses shall be allocated 100% to the General Partner.

Allocations of Gain and Loss. A. Subject to the provisions of Section 4.104.11, Gain recognized by the Partnership shall be allocated (after giving effect to the allocations referred to in Sections 4.01 and 4.02 and all distributions other than distributions pursuant to Section 4.07B4.08) with respect to any Fiscal Year in the following order of priority: (i) first, to all Partners whose Capital Accounts have negative balances, in the ratio of such negative balances until such negative balances are brought to zero; (ii) second, to the Limited Partners in the amount necessary to bring the aggregate of their respective Capital Account balances to an amount equal to 99% of the Capital Priority Amount and to the General Partner in the amount necessary to bring its Capital Account balance to an amount equal to 1% of 1/99 multiplied by the Limited Partners' Capital Priority Amount; provided, however, that if there is insufficient Gain to bring such balances to such levels, then (a) Gain first shall be allocated so as to cause the ratio of the aggregate balance in the Limited Partners' Capital Account of the Limited Partners balances to the General Partner's Capital Account balance to be 99 to 1 and (b) any remaining Gain allocable pursuant to this subsection (ii) shall be allocated 99% to the Limited Partners and 1% to the General Partner; and (iii) thereafter, any remaining Gain shall be allocated among the Partners so that, to the extent possible, the ratio of (A) the aggregate balance in the Capital Accounts Account of the Limited Partners in excess of 99% of the Capital Priority Amount to (B) the balance in the General Partner's Capital Account in excess of 1% 1/99 of the Limited Partners' Capital Priority Amount, is 80 to 20. B. Subject to the provisions of Section 4.104.11, Losses recognized by the Partnership shall be allocated (after giving effect to the allocations referred to in Sections 4.01 and 4.02 and all distributions other than distributions pursuant to Section 4.07B4.08) with respect to any Fiscal Year in the following order of priority;: (i) first, Losses shall be allocated to the Partners with positive Capital Account balances until all positive balances in the Partners' Capital Accounts Account balances shall have been eliminated, eliminated with such allocation being made in proportion to the outstanding positive Capital Account balances; and (ii) second, all remaining Losses shall be allocated 10025% to the Limited Partners and 75% to the General Partner.