Allocations of Income and Loss. For each taxable year, (i) each holder of Preferred Units will be allocated net income of the Partnership in an amount equal to the distributions made on such holder’s Preferred Units during such taxable year, and (ii) each holder of Preferred Units will be allocated its pro rata share, based on the portion of outstanding Preferred Units held by it, of any net loss of the Partnership that is not allocated to holders of Partnership Common Units or other interests in the Partnership. Upon liquidation, dissolution or winding up of the Partnership, the holders of Preferred Units will be allocated income and gain sufficient to enable them to realize the Liquidation Preference in full.
Appears in 6 contracts
Samples: Limited Partnership Agreement (Aimco Properties L.P.), Limited Partnership Agreement (Apartment Income REIT Corp.), Limited Partnership Agreement (Apartment Income REIT Corp.)
Allocations of Income and Loss. For each taxable year, (i) each holder of Preferred Units will be allocated net income of the Partnership in an amount equal to the distributions made on such holder’s 's Preferred Units during such taxable year, and (ii) each holder of Preferred Units will be allocated its pro rata share, based on the portion of outstanding Preferred Units held by it, of any net loss of the Partnership that is not allocated to holders of Partnership Common Units or other interests in the Partnership. Upon liquidation, dissolution or winding up of the Partnership, the holders of Preferred Units will be allocated income and gain sufficient to enable them to realize the Liquidation Preference in full.
Appears in 6 contracts
Samples: Amendment to the Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co), Amendment to the Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co), Second Amendment to the Third Amended and Restated Agreement of Limited Partnership (Aimco Properties Lp)
