Common use of Allocations of Profits or Losses Clause in Contracts

Allocations of Profits or Losses. (a) After giving effect to the Regulatory Allocations set forth in Section 6.4 and the special allocations set forth in Section 6.3(b), and except as provided in Section 6.3(c), for any Fiscal Year or other period, all Profits or Losses for such Fiscal Year or other period shall be allocated to the Members in a manner such that the Capital Account of each Member, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to (1) the distributions that would be made to such Member pursuant to Section 6.1 if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Book Value, all liabilities were satisfied (limited with respect to each non-recourse liability to the Book Value of the assets securing such liability), and the net assets of the Company were distributed in accordance with Section 6.1 to the Members immediately after making such allocation, minus, (2) such Member’s share of Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(g) and Member Nonrecourse Debt Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(i)(5), computed immediately prior to the hypothetical sale of assets. (b) All deductions arising from the payment of any of the Vessel Management Fees shall be specially allocated to the Capital Account of AMCIC. (c) Losses shall not be allocated pursuant to Section 6.3 to the extent that such allocation would cause a Member to have a deficit balance in its Adjusted Capital Account (or increase any existing deficit balance in its Adjusted Capital Account) at the end of such Fiscal Year or other period. All Losses in excess of the limitation set forth in this Section 6.3(b) shall be allocated to the Members who do not have a deficit balance in their Adjusted Capital Account in proportion to their relative Percentage Interests but only to the extent that such Losses do not cause any such Member to have a deficit in its Adjusted Capital Account. LIMITED LIABILITY COMPANY AGREEMENT BENTHE SHIPCO LLC

Allocations of Profits or Losses. (a) After giving effect to the Regulatory Allocations set forth in Section 6.4 and the special allocations set forth in Section 6.3(b), and except as provided in Section 6.3(c), for any Fiscal Year or other period, all Profits or Losses for such Fiscal Year or other period shall be allocated to the Members in a manner such that the Capital Account of each Member, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to (1) the distributions that would be made to such Member pursuant to Section 6.1 if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Book Value, all liabilities were satisfied (limited with respect to each non-recourse liability to the Book Value of the assets securing such liability), and the net assets of the Company were distributed in accordance with Section 6.1 to the Members immediately after making such allocation, minus, (2) such Member’s share of Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(g) and Member Nonrecourse Debt Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(i)(5), computed immediately prior to the hypothetical sale of assets. (b) All deductions arising from the payment of any of the Vessel Management Fees shall be specially allocated to the Capital Account of AMCIC. (c) Losses shall not be allocated pursuant to Section 6.3 to the extent that such allocation would cause a Member to have a deficit balance in its Adjusted Capital Account (or increase any existing deficit balance in its Adjusted Capital Account) at the end of such Fiscal Year or other period. All Losses in excess of the limitation set forth in this Section 6.3(b) shall be allocated to the Members who do not have a deficit balance in their Adjusted Capital Account in proportion to their relative Percentage Interests but only to the extent that such Losses do not cause any such Member to have a deficit in its Adjusted Capital Account. LIMITED LIABILITY COMPANY AGREEMENT BENTHE SHIPCO IRON XXXX XXXXXX LLC

Allocations of Profits or Losses. (a) After giving effect to the Regulatory Allocations set forth in Section 6.4 and the special allocations set forth in Section 6.3(b), and except as provided in Section 6.3(c), for any Fiscal Year or other period, all Profits or Losses for such Fiscal Year or other period shall be allocated to the Members in a manner such that the Capital Account of each Member, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to (1) the distributions that would be made to such Member pursuant to Section 6.1 if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Book Value, all liabilities were satisfied (limited with respect to each non-recourse liability to the Book Value of the assets securing such liability), and the net assets of the Company were distributed in accordance with Section 6.1 to the Members immediately after making such allocation, minus, (2) such Member’s share of Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(g) and Member Nonrecourse Debt Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(i)(5), computed immediately prior to the hypothetical sale of assets. (b) All deductions arising from the payment of any of the Vessel Management Fees shall be specially allocated to the Capital Account of AMCIC. (c) Losses shall not be allocated pursuant to Section 6.3 to the extent that such allocation would cause a Member to have a deficit balance in its Adjusted Capital Account (or increase any existing deficit balance in its Adjusted Capital Account) at the end of such Fiscal Year or other period. All Losses in excess of the limitation set forth in this Section 6.3(b) shall be allocated to the Members who do not have a deficit balance in their Adjusted Capital Account in proportion to their relative Percentage Interests but only to the extent that such Losses do not cause any such Member to have a deficit in its Adjusted Capital Account. LIMITED LIABILITY COMPANY AGREEMENT BENTHE SHIPCO XXXXX XXXXXX LLC

Allocations of Profits or Losses. (a) After giving effect to the Regulatory Allocations set forth in Section 6.4 and the special allocations set forth in Section 6.3(b), and except as provided in Section 6.3(c), for any Fiscal Year or other period, all Profits or Losses for such Fiscal Year or other period shall be allocated to the Members in a manner such that the Capital Account of each Member, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to (1) the distributions that would be made to such Member pursuant to Section 6.1 if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Book Value, all liabilities were satisfied (limited with respect to each non-recourse liability to the Book Value of the assets securing such liability), and the net assets of the Company were distributed in accordance with Section 6.1 to the Members immediately after making such allocation, minus, (2) such Member’s share of Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(g) and Member Nonrecourse Debt Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(i)(5), computed immediately prior to the hypothetical sale of assets. (b) All deductions arising from the payment of any of the Vessel Management Fees shall be specially allocated to the Capital Account of AMCIC. (c) Losses shall not be allocated pursuant to Section 6.3 to the extent that such allocation would cause a Member to have a deficit balance in its Adjusted Capital Account (or increase any existing deficit balance in its Adjusted Capital Account) at the end of such Fiscal Year or other period. All Losses in excess of the limitation set forth in this Section 6.3(b) shall be allocated to the Members who do not have a deficit balance in their Adjusted Capital Account in proportion to their relative Percentage Interests but only to the extent that such Losses do not cause any such Member to have a deficit in its Adjusted Capital Account. LIMITED LIABILITY COMPANY AGREEMENT BENTHE SHIPCO XXXXX XXXXXXX XXXXXX LLC

Allocations of Profits or Losses. (a) After giving effect to the Regulatory Allocations set forth in Section 6.4 and the special allocations set forth in Section 6.3(b), and except as provided in Section 6.3(c), for any Fiscal Year or other period, all Profits or Losses for such Fiscal Year or other period shall be allocated to the Members in a manner such that the Capital Account of each Member, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to (1) the distributions that would be made to such Member pursuant to Section 6.1 if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Book Value, all liabilities were satisfied (limited with respect to each non-recourse liability to the Book Value of the assets securing such liability), and the net assets of the Company were distributed in accordance with Section 6.1 to the Members immediately after making such allocation, minus, (2) such Member’s share of Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(g) and Member Nonrecourse Debt Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(i)(5), computed immediately prior to the hypothetical sale of assets. (b) All deductions arising from the payment of any of the Vessel Management Fees shall be specially allocated to the Capital Account of AMCIC. (c) Losses shall not be allocated pursuant to Section 6.3 to the extent that such allocation would cause a Member to have a deficit balance in its Adjusted Capital Account (or increase any existing deficit balance in its Adjusted Capital Account) at the end of such Fiscal Year or other period. All Losses in excess of the limitation set forth in this Section 6.3(b) shall be allocated to the Members who do not have a deficit balance in their Adjusted Capital Account in proportion to their relative Percentage Interests but only to the extent that such Losses do not cause any such Member to have a deficit in its Adjusted Capital Account. LIMITED LIABILITY COMPANY AGREEMENT BENTHE HOPE SHIPCO LLC

Allocations of Profits or Losses. (a) After giving effect to the Regulatory Allocations set forth in Section 6.4 and the special allocations set forth in Section 6.3(b)6.4, and except as provided in Section 6.3(c6.3(b), for any Fiscal Year or other periodYear, all Profits or Losses for such Fiscal Year or other period shall be allocated to the Members in a manner such that the Capital Account of each Member, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to (1) the distributions that would be made to such Member pursuant to Section 6.1 if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Book Value, all liabilities were satisfied (limited with respect to each non-recourse liability to the Book Value of the assets securing such liability), and the net assets of the Company were distributed in accordance with Section 6.1 to the Members immediately after making such allocation, minus, (2) such Member’s share of Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(g) and Member Nonrecourse Debt Minimum Gain determined pursuant to Treasury Regulation Section 1.704-2(i)(5), computed immediately prior to the hypothetical sale of assets. (b) All deductions arising from the payment of any of the Vessel Management Fees shall be specially allocated to the Capital Account of AMCIC. (c) Losses shall not be allocated pursuant to Section 6.3 to the extent that such allocation would cause a Member to have a deficit balance in its Adjusted Capital Account (or increase any existing deficit balance in its Adjusted Capital Account) at the end of such Fiscal Year or other period. All Losses in excess of the limitation set forth in this Section 6.3(b) shall be allocated to the Members who do not have a deficit balance in their Adjusted Capital Account LIMITED LIABILITY COMPANY AGREEMENT XXXXXXXXX XXXXXX LLC in proportion to their relative Percentage Interests but only to the extent that such Losses do not cause any such Member to have a deficit in its Adjusted Capital Account. LIMITED LIABILITY COMPANY AGREEMENT BENTHE SHIPCO LLC.