Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss and expense that are specially allocated pursuant to this Article 6 (other than Section 6.1A or Section 6.1B).
Appears in 14 contracts
Samples: Limited Partnership Agreement (Gaming & Leisure Properties, Inc.), Limited Partnership Agreement (Paramount Group, Inc.), Limited Partnership Agreement (Park View OZ REIT Inc)
Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss and expense that are specially allocated pursuant to this Article 6 (other than Section 6.1A or Section 6.1B6.1A).
Appears in 5 contracts
Samples: Limited Partnership Agreement (Nico Echo Park, Benefit Corp), Limited Partnership Agreement (Cole Real Estate Income Strategy (Daily Nav), Inc.), Agreement of Limited Partnership (Platform Ventures Diversified Housing REIT, LLC)
Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss gain and expense that are specially allocated pursuant to this Article 6 (other than Section 6.1A Sections 6.3, 6.4 or Section 6.1B)6.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Federal Realty OP LP), Limited Partnership Agreement (Federal Realty OP LP)
Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss and expense that are specially allocated pursuant to this Article 6 (other than Section 6.1A 6.1(a) or Section 6.1B6.1(b)).
Appears in 2 contracts
Samples: Limited Partnership Agreement (Curbline Properties Corp.), Limited Partnership Agreement (Curbline Properties Corp.)
Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense expense, or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss gain and expense that are specially allocated pursuant to this Article 6 (other than Section 6.1A Sections 5.01(c), 5.01(d), or Section 6.1B5.01(e).
Appears in 2 contracts
Samples: Limited Partnership Agreement (Wells Timberland REIT, Inc.), Limited Partnership Agreement (Wells Timberland REIT, Inc.)
Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss and expense that are specially allocated pursuant to this Article 6 (other than Section 6.1A 6.1A(1) or Section 6.1B).
Appears in 2 contracts
Samples: Amendment to the Agreement of Limited Partnership, Amended and Restated Agreement of Limited Partnership (DiamondRock Hospitality Co)
Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss gain and expense that are specially allocated pursuant to this Article 6 Sections 5.01(b), (other than Section 6.1A c) or Section 6.1B)(d) hereof.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Generation Income Properties, Inc.), Limited Partnership Agreement (Reven Housing REIT, Inc.)
Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss and expense that are specially allocated pursuant to this Article 6 (other than Section 6.1A 6.1.A or Section 6.1B6.1.B).
Appears in 1 contract
Samples: Limited Partnership Agreement (Lamar Media Corp/De)
Definition of Profit and Loss. “Profit” and “Loss” and any items of income, gain, expense or loss referred to in this Agreement means the net income, net loss or items thereof for the applicable period as determined for maintaining Capital Accounts, and shall be determined in accordance with U.S. federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain, loss and expense that are specially allocated pursuant to this Article 6 (other than Section 6.1A or Section 6.1B).. ACTIVE/104666890.9
Appears in 1 contract
Samples: Limited Partnership Agreement (Paramount Group, Inc.)
