Allocations of Partnership Profits and Losses Sample Clauses

Allocations of Partnership Profits and Losses. (a) Except as otherwise provided in this Section 4.2, Profits and Losses of the Partnership shall be allocated among the Partners as follows: (i) Profits of the Partnership shall be allocated: (A) First, to the Partners in proportion to their respective negative Capital Account balances until no Partner has a negative Capital Account balance; (B) Next, to the Partners in proportion to their respective Unreturned Capital Contributions until the Capital Account balance of each Partner is not less than such Partner's Unreturned Capital Contribution; and (C) Finally, to the Partners in proportion to their respective Percentage Interests. (ii) Next, Losses of the Partnership shall be allocated: (A) First, to the Partners in proportion to the amounts by which the Capital Account balance of each Partner exceeds such Partner's Unreturned Capital Contribution until the Capital Account balance of each Partner does not exceed such Partner's Unreturned Capital Contribution; (B) Next, to the Partners in proportion to their respective Unreturned Capital Contributions until the Capital Account balance of each Partner does not exceed zero; and (C) Finally, to the Partners in proportion to their respective Percentage Interests. (iii) Notwithstanding the foregoing provisions of this Section 4.2(a): (A) Nonrecourse Deductions shall be allocated among the Partners in proportion to their respective Percentage Interests; (B) In accordance with the provisions of Treasury Regulation Section 1.704-2(i), each item of Partner Nonrecourse Deduction shall be allocated among the Partners in proportion to the economic risk of loss that the Partners bear with respect to the nonrecourse liability of the Partnership to which such item of Partner Nonrecourse Deduction is attributable; and (C) Solely for purposes of determining the amounts to be allocated among the Partners under Section 4.2(a)(i) and (ii), the Capital Account balances of the Partners shall not reflect any reduction thereof caused by (1) the allocation to the Partners' Capital Accounts of Nonrecourse Deductions or Partner Nonrecourse Deductions under this Section 4.2(a)(iii), or (2) any distributions that, notwithstanding the provisions of Section 4.5, are allocable to increases in the Partnership's Minimum Gain under Treasury Regulation Section 1.704-2(h) (except to the extent that such Nonrecourse Deductions, Partner Nonrecourse Deductions or distributions have been offset by operation of the minimum gain chargeback provis...
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Allocations of Partnership Profits and Losses. (a) Except as otherwise provided in this Section 4.2, Profits and Losses of the Partnership shall be allocated among the Partners as follows: (i) Profits of the Partnership shall be allocated: (A) First, to the Partners in proportion to their respective negative Capital Account balances until no Partner has a negative Capital Account balance; (B) Next, to the Partners in proportion to their respective Unreturned Capital Contributions until the Capital Account balance of each Partner is not less than such Partner's Unreturned Capital Contribution; and (C) Finally, to the Partners in proportion to their respective Percentage Interests. (ii) Next, Losses of the Partnership shall be allocated: (A) First, to the Partners in proportion to the amounts by which the Capital Account balance of each Partner exceeds such Partner's Unreturned Capital Contribution until the Capital Account balance of each Partner does not exceed such Partner's Unreturned Capital Contribution;
Sample 1
Allocations of Partnership Profits and Losses. (a) Allocation of Profits and Losses. Except as otherwise provided in this Article IV and Section 11.2(b) hereof, Partnership Net Income and Net Loss for each Fiscal Year (or partial Fiscal Year, if required) shall be allocated among the Partners as follows: (i) Net Income shall be allocated: (A) First, to the Partners in accordance with their negative Capital Account balances until no Partner has a negative Capital Account balance; then (B) To the Partners in the smallest amount necessary to bring all Partners’ Capital Accounts into the ratio of their Percentage Interests; and (C) Thereafter, to the Partners in accordance with their Percentage Interests. (ii) Net Loss shall be allocated: (A) To the Partners in accordance with their Percentage Interests, until each such Partner’s Capital Account does not exceed zero; and (B) Thereafter, to the General Partner. (b) Limitations on Allocation of Losses. Any allocation of loss, expense or deduction pursuant to Section 4.2(a)(ii) that would cause or increase a deficit balance in a Limited Partner’s Adjusted Capital Account as of the end of the Fiscal Year to which such allocation relates shall be reallocated to the General Partner.
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Allocations of Partnership Profits and Losses. All profits and losses of the Partnership shall be allocated to the Partners in accordance with their Sharing Ratios.
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Related to Allocations of Partnership Profits and Losses

  • Allocations of Profits and Losses Except as otherwise provided in this Agreement, Profits and Losses (and, to the extent necessary, individual items of income, gain or loss or deduction of the Partnership) shall be allocated in a manner such that the Capital Account of each Partner after giving effect to the Special Allocations set forth in Section 5.05 is, as nearly as possible, equal (proportionately) to (i) the distributions that would be made pursuant to Article IV if the Partnership were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Partnership liabilities were satisfied (limited with respect to each non-recourse liability to the Carrying Value of the assets securing such liability) and the net assets of the Partnership were distributed to the Partners pursuant to this Agreement, minus (ii) such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. For purposes of this Article V, each Unvested Unit shall be treated as a Vested Unit. Notwithstanding the foregoing, the General Partner shall make such adjustments to Capital Accounts as it determines in its sole discretion to be appropriate to ensure allocations are made in accordance with a partner’s interest in the Partnership.

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

  • Profits and Losses For financial accounting and tax purposes, the Company’s net profits or net losses shall be determined on an annual basis in accordance with the manner determined by the Board. In each year, profits and losses shall be allocated entirely to the Member.

  • 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.

  • 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.

  • 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 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.

  • Participation in Profits and Losses All profits and losses of the Company will 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.

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