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: Gaming & Leisure Properties, Inc., Paramount Group, Inc., 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: Agreement (Cole Real Estate Income Strategy (Daily Nav), Inc.), Nico Echo Park, Benefit Corp, Platform Ventures Diversified Housing REIT, LLC
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: Wells Timberland REIT, Inc., 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 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.), 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 6.1A(1) or Section 6.1B).
Appears in 2 contracts
Samples: drhc.com, 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 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: Paramount Group, 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: Agreement (Lamar Media Corp/De)