Capital Account Deficits. Loss or items thereof shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account.
Appears in 20 contracts
Samples: Limited Partnership Agreement (Curbline Properties Corp.), Limited Partnership Agreement (Curbline Properties Corp.), Limited Partnership Agreement (Paramount Group, Inc.)
Capital Account Deficits. Loss or items thereof shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital AccountAccount (in which case the Loss or items(or portions thereof) that cannot be allocated to such Limited Partner shall be allocated to those Partners who can receive such allocations without violating this Section 6.1B in accordance with their respective Percentage Interests (or their respective positive Adjusted Capital Accounts if all such Partners hold only Preferred Units)).
Appears in 1 contract
Samples: Limited Partnership Agreement (Cole Real Estate Income Strategy (Daily Nav), Inc.)