Common use of Capital Account Deficits Clause in Contracts

Capital Account Deficits. Net Loss (or items of Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.4, to the extent permitted by Regulations Section 1.704-1(b), Net Income shall be allocated to the General Partner in an amount necessary to offset the Net Loss previously allocated to the General Partner under this Section 5.4.

Capital Account Deficits. Net Loss (or items of Net Lossloss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss net loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss net loss to the General Partner in accordance with this Section 5.45.1(d), to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General such Partner in an amount necessary to offset the Net Loss net loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s 's Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s 's shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.45.1(d), to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General such Partner in an amount necessary to offset the Net Loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Lossloss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss net loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss net loss to the General Partner in accordance with this Section 5.45.1(f), to the extent permitted by Regulations Section 1.704-1(b), Net Income profit shall be allocated to the General such Partner in an amount necessary to offset the Net Loss net loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.45.1(d), to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General such Partner in an amount necessary to offset the Net Loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.45.1(d), to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General Partner in an amount necessary to offset the Net Loss previously allocated to the General Partner under this Section 5.45.1(d).

Capital Account Deficits. Net Loss (or items of Net Loss) During such period that the Partnership has Nonrecourse Debt, loss shall not be allocated to a Limited the General Partner to the extent that such allocation would cause or increase a deficit in such Partner’s 's Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s 's shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704Gain and liabilities allocated to such Partner under Regulation Section 1.752-2(g)(1) and 1.704-2(i)(53(a). Any Net Loss in excess of that limitation shall be allocated to the General PartnerLimited Partners in accordance with their Percentage Interests. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.45.1(e), to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General such Partner in an amount necessary to offset the Net Loss previously allocated to the General such Partner under this Section 5.45.1(e).

Capital Account Deficits. Net Loss (or items of Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal taxable year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Minim um Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5). Any Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.45.1(f), to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General such Partner in an amount necessary to offset the Net Loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s 's Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s 's shares of Partnership Minimum Gain and Partner Non-recourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-1.704 2(g)(1) and 1.704-2(i)(5). Any Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.45.1(d), to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General such Partner in an amount necessary to offset the Net Loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Lossloss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss net loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss net loss to the General Partner in accordance with this Section 5.45.1(f), to the extent permitted by Regulations Section 1.704-1(b), Net Income income shall be allocated to the General such Partner in an amount necessary to offset the Net Loss net loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Lossloss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss net loss in excess of that limitation shall be allocated to the REIT General Partner. After the occurrence of an allocation of Net Loss net loss to the REIT General Partner in accordance with this Section 5.45.1(f), to the extent permitted by Regulations Section 1.704-1(b), Net Income income shall be allocated to the General such Partner in an amount necessary to offset the Net Loss net loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.45.1(f), to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General such Partner in an amount necessary to offset the Net Loss previously allocated to the General such Partner under this Section 5.45.1(f).

Capital Account Deficits. Net Loss (or items of Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Net Loss to the General Partner in accordance with this Section 5.45.1.4, to the extent permitted by Regulations Section 1.704-1(b), Net Income Profit shall be allocated to the General Partner in an amount necessary to offset the Net Loss previously allocated to the General Partner under this Section 5.45.1.4.