Allocations of Income and Loss. Subject to the terms of Section 5 hereof, for each taxable year, (i) each holder of Preferred Units will be allocated, to the extent possible, 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.
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. Subject to the terms of Section 5 hereof, for each taxable year, (i) each holder of Preferred Units will be allocated, to the extent possible, 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.
Appears in 3 contracts
Samples: Amendment to Limited Partnership Agreement (Aimco Properties L.P.), Third Amended and Restated Agreement of Limited Partnership (Aimco Properties Lp), Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Allocations of Income and Loss. Subject to the terms of Section 5 hereof, for each taxable year, (ia) each holder of Preferred Units will be allocated, to the extent possible, net income of the Partnership in an amount equal to the distributions made on such holder’s Preferred Units during such taxable year, and (iib) 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.
Appears in 1 contract
Samples: Limited Partnership Agreement (Aimco Properties L.P.)
Allocations of Income and Loss. Subject to the terms of Section 5 4 hereof, for each taxable year, (i) each holder of Preferred Units will be allocated, to the extent possible, 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.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Allocations of Income and Loss. Subject to the terms of Section 5 hereof, for each taxable year, (ia) each holder of Preferred Units will be allocated, to the extent possible, 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 (iib) 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.
Appears in 1 contract
Samples: Limited Partnership Agreement (Aimco Properties L.P.)
