Allocations of Profit and Loss from a Capital Transaction Sample Clauses

Allocations of Profit and Loss from a Capital Transaction. After giving effect to the Special Allocations set forth in Section 4.3, if, at the end of any taxable year in which there is any Capital Transaction, the quotient obtained by dividing any Member’s positive Economic Capital Account Balance by the aggregate of all Members’ Economic Capital Account Balances at such time (such Member’s “Economic Capital Account Quotient”), would differ from such Member’s percentage of Membership Units, then Profit (and items thereof) and Loss (and items thereof) attributable to such Capital Transaction shall be allocated among the Members in a manner such that the positive Economic Capital Account Quotient of each Member, immediately after giving effect to such allocation, is, as nearly possible, equal to such Member’s percentage of Membership Units; provided, however, that this Section 4.2.1 shall not be applied to cause any Member to have an Adjusted Capital Account Deficit. If the preceding sentence would not apply (because the Economic Capital Account Quotient of each Member is equal to such Member’s percentage of Membership Unit), then, after giving effect to the Special Allocations set forth in Section 4.3, at the end of any taxable year in which there is any Capital Transaction, Profit and Loss (or any items of either of them) attributable to such Capital Transaction shall be allocated to the Members in proportion to their percentage of Membership Units. No Member shall be entitled to any allocation of Profit or Loss (or any items of either of them) attributable to a Capital Transaction which occurred prior to such Member becoming a Member.
Sample 1
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Related to Allocations of Profit and Loss from a Capital Transaction

  • Allocations of Profit and Loss Whenever a proportionate part of the Company’s Profit and Loss is allocated to the Member, every item of income, gain, loss, deduction and credit entering into the computation of such Profit or Loss applicable to the period during which such Profit or Loss was realized shall be allocated to the Member.

  • Allocation of Profit and Loss Article V, 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:

  • Adjustments to Capital Accounts At the end of each Fiscal Period, the Capital Accounts of the Partners shall be adjusted in the following manner:

  • 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 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.

  • Net Loss After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows:

  • Book Capital Accounts The Book Capital Account balance of each Holder shall be adjusted each day by the following amounts:

  • Profits and Losses Distributions The Member shall treat all of the profits and losses of the Company as its own. All distributions shall be made to the Member at times and in amounts determined by the Member or the Board of Managers. The Company shall not make distributions to the Member if such distribution would violate Section 18-607 of the Act.

  • Deficit Capital Accounts No Member will be required to pay to the Company, to any other Member or to any third party any deficit balance that may exist from time to time in the Member’s Capital Account.

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

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