Allocations of Profit Sample Clauses

Allocations of Profit. Except as otherwise provided herein, Profits of the Company shall be allocated for Federal income tax purposes in the following order of priority: 5.4.1 First, to the Members in proportion to the cumulative Losses previously allocated to each Member pursuant to Section 5.5.4 until the cumulative Profit allocated pursuant to this Section 5.4.1 equals the cumulative Losses allocated to such Members under Section 5.5.4 for all prior Company fiscal years; 5.4.2 Second, to UST and Prime in proportion to the UST Combined Priority Return and Prime Combined Priority Return, as applicable, until the cumulative Profit allocated to each pursuant to this Section 5.4.2 for all Company fiscal years is equal to the UST Combined Priority Return and Prime Combined Priority Return, respectively, for all Company fiscal years; 5.4.3 Third, to UST, until the Profit allocated pursuant to this Section 5.4.3 equals the cumulative Losses allocated to UST pursuant to Section 5.5.3 for all Company fiscal years; provided, however, any Losses allocated pursuant to this Section 5.4.3 for any fiscal year shall not exceed the UST Invested Capital at the end of such fiscal year; 5.4.4 Fourth, to Prime, until the Profit allocated pursuant to this Section 5.4.4 equals the cumulative Losses allocated to Prime pursuant to Section 5.5.2 for all Company fiscal years; provided, however, any Losses allocated pursuant to this Section 5.4.4 for any fiscal year shall not exceed the Prime Invested Capital at the end of such fiscal year; and 5.4.5 The balance to each Member, pro rata, in accordance with such Member's Sharing Capital Ratio.
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Allocations of Profit. Except as otherwise provided herein, Profits of the Company shall be allocated in the following order of priority: 5.4.1 First, to the Members in proportion to the cumulative unreversed Losses allocated to each Member pursuant to Section 5.5.3 until the cumulative Profit allocated pursuant to this Section 5.4.1 are equal to the cumulative Losses allocated to such Members under Section 5.5.3 for all prior Company taxable years; 5.4.2 Second, to OTR, in an amount equal to the excess, if any, of the Priority Return as of the end of such Company taxable year over the cumulative allocations of Profit allocated pursuant to this Section 5.4.2 (net of allocations of Losses made to OTR under Section 5.5.2) made to OTR for all prior Company taxable years; and 5.4.3 The balance, if any, to each Member, pro rata, in accordance with such Member's Interest.
Sample 1
Allocations of Profit. Notwithstanding anything to the contrary in Section 5.1(a)(i)(B) of the Partnership Agreement, and subject to Section 12(f) of this Note, while this Note is outstanding, prior to any allocation of Profit to any Preferred OP Unitholder under such Section 5.1(a)(i)(B), Profit shall first be allocated to the Payee, until the aggregate allocations of Profit under this Section 12(d) (net of any Loss allocations under Section 12(e)) equal the Unallocated Built-in Gain.
Sample 1
Allocations of Profit. Section 5.01(a)(i) of the Agreement shall be deleted and replaced with the following: (i) First, to the General Partner until the aggregate amount of profit allocated to the General Partner under this Section 5.01(a)(i) for the current and all prior years equals the aggregate Preferred Return distributed to the General Partner under Section 5.02(a)(i) for the current and all prior years, taking into account the distributions to the General Partner that are deemed to have been distributed on December 31 of each year pursuant to Section 5.02(f) hereof;
Sample 1
Allocations of Profit. After giving effect to the special allocations set forth in Sections 7.11 through 7.18 and in the order and priority of those Sections, Profit of the Company shall be allocated to each Member in accordance with its Sharing Ratio.
Sample 1

Related to Allocations of Profit

  • 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 Profits for any Year shall be allocated in the following order and priority: (i) First, to any Partner who was allocated Losses after the Capital Account of any other Partner was reduced to zero (0), to the extent of such Losses; provided, however, that in the event that the foregoing applies to more than one Partner, to those Partners pro rata according to the amount of such Losses allocated to each; and (ii) Second, to the Partners in accordance with their relative Percentage Interests.

  • 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.

  • Allocations of Income and Loss For each taxable year, each holder of Preferred Units will be allocated a portion of the Net Income and Net Loss of the Partnership equal to the portion of the Net Income and Net Loss of the Partnership that would be allocated to such holder pursuant to Article 6 of the Agreement if such holder held a number of Partnership Common Units equal to (i) the number of Preferred Units held by such holder, multiplied by (ii) 0.625. Upon liquidation, dissolution or winding up of the Partnership, the Partnership shall endeavor to allocate income and gain to the holders of the Preferred Units such that the Capital Accounts related to the Preferred Units are equal to their Liquidation Preference.

  • Allocations of Collections 35 SECTION 10. Payments..................................................................................................47 SECTION 11.

  • 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 Profit or Loss All Profit or Loss shall be allocated to the Member.

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

  • Allocation of Profit and Loss Section 5.01 of the Partnership Agreement is hereby deleted in its entirety and the following new Section 5.01 is inserted in its place:

  • Allocations of Principal Collections The Servicer shall allocate to the Series 1997-1 Certificateholders the following amounts as set forth below: