Determination of Items Comprising Allocations. (i) In the event that the Company has Net Income for a Fiscal Year,
(A) for any Member as to whom the allocation pursuant to Section 7.02(a) would reduce his, her or its Capital Account, such allocation shall be comprised of a proportionate share of each of the Company's items of expense or loss entering into the computation of Net Income for such Fiscal Year; and
(B) the allocation pursuant to Section 7.02(a) in respect of each Member (other than a Member referred to in Section 7.02(b)(i)(A)) shall be comprised of a proportionate share of each Company item of income, gain, expense and loss entering into the computation of Net Income for such Fiscal Year (other than the portion of each Company item of expense and loss, if any, that is allocated pursuant to Section 7.02(b)(i)(A)).
(ii) In the event that the Company has a Net Loss for a Fiscal Year,
(A) for any Member as to whom the allocation pursuant to Section 7.02(a) would increase his, her or its Capital Account, such allocation shall be comprised of a proportionate share of the Company's items of income and gain entering into the computation of Net Loss for such Fiscal Year; and
(B) the allocation pursuant to Section 7.02(a) in respect of each Member (other than a Member referred to in Section 7.02(b)(ii)(A)) shall be comprised of a proportionate share of each Company item of income, gain, expense and loss entering into the computation of Net Loss for such Fiscal Year (other than the portion of each Company item of income and gain, if any, that is allocated pursuant to Section 7.02(b)(ii)(A)).
Determination of Items Comprising Allocations. (i) In the event that the Company has Profits for a taxable year,
(A) for any Member whose Capital Account balance needs to be reduced pursuant to Section 4.2 hereof, the allocation required by Section 4.2 shall be comprised of a proportionate share (based upon the relative amounts their Capital Accounts need to be reduced) of each of the Company's items of expense or loss entering into the computation of Profits for such taxable year to the extent necessary to eliminate to the maximum extent possible for the taxable year in question, the differential between their respective Partially Adjusted Capital Accounts and Target Capital Accounts; and
(B) the allocation pursuant to Section 4.2 hereof in respect of each Member (other than a Member referred to in Section 4.2(b)(i)(A) hereof) shall be comprised of a proportionate share (based upon the relative amounts their Capital Accounts need to be adjusted) of each Company item of income, gain, expense and loss entering into the computation of Profits for such taxable year (other than the portion of each Company item of expense and loss, if any, that is allocated pursuant to Section 4.2(b)(i)(A) hereof).
(ii) In the event the Company has Losses for a taxable year,
(A) for any Member whose Capital Account balance needs to be increased pursuant to Section 4.2 hereof, the allocation required by Section 4.2 shall be comprised of a proportionate share (based upon the relative amounts their Capital Accounts need to be increased) of each of the Company's items of income and gain entering into the computation of Losses for such taxable year to the extent necessary to eliminate to the maximum extent possible for the taxable year in question, the differential between their respective Partially Adjusted Capital Accounts and Target Capital Accounts; and
(B) the allocation pursuant to Section 4.2 hereof in respect of each Member (other than a Member referred to in Section 4.2(b)(ii)(A) hereof) shall be comprised of a proportionate share (based upon the relative amounts their Capital Accounts need to be adjusted) of each Company item of income, gain, expense and loss entering into the computation of Losses for such taxable year (other than the portion of each Company item of income and gain, if any, that is allocated pursuant to Section 4.2(b)(ii)(A) hereof).
(iii) To the maximum extent possible in each taxable year, the items of taxable income and gain that are required to be specially allocated among any Members who need to ...
Determination of Items Comprising Allocations. (i) In the event that the Partnership has Profit for a Fiscal Year,
(1) for any Partner as to whom the allocation pursuant to Section 7.2(a) hereof would reduce its Capital Account, such allocation shall be comprised of a proportionate share of each of the Partnership’s items of expense or loss entering into the computation of Profit for such Fiscal Year; and
(2) the allocation pursuant to Section 7.2(a) hereof in respect of each Partner (other than a Partner referred to in Section 7.2(b)(i)(1) hereof) shall be comprised of a proportionate share of each Partnership item of income, gain, expense and loss entering into the computation of Profit for such Fiscal Year (other than the portion of each Partnership item of expense and loss, if any, that is allocated pursuant to Section 7.2(b)(i)(1) hereof).
(ii) In the event that the Partnership has a Loss for a Fiscal Year,
(1) for any Partner as to whom the allocation pursuant to Section 7.2(a) hereof would increase its Capital Account, such allocation shall be comprised of a proportionate share of the Partnership’s items of income and gain entering into the computation of Profit for such Fiscal Year; and
(2) the allocation pursuant to Section 7.2(a) hereof in respect of each Partner (other than a Partner referred to in Section 7.2(b)(ii)(1) hereof) shall be comprised of a proportionate share of each Partnership item of income, gain, expense and loss entering into the computation of Profit for such Fiscal Year (other than the portion of each Partnership item of income and gain, if any, that is allocated pursuant to Section 7.2(b)(ii)(1) hereof).
Determination of Items Comprising Allocations. (i) In the event that the Company has Net Income for a Fiscal Year,
(A) for any Member as to whom the allocation pursuant to Section 4.3(a) would reduce its Capital Account, such allocation shall be comprised of a proportionate share of each of the Company’s items of expense or loss entering into the computation of Net Income for such Fiscal Year; and
(B) the allocation pursuant to Section 4.3(a) in respect of each Member (other than a Member referred to in Section 4.3(b)(i)(A)) shall be comprised of a proportionate share of each Company item of income, gain, expense and loss entering into the computation of Net Income for such Fiscal Year (other than the portion of each Company item of expense and loss, if any, that is allocated pursuant to Section 4.3(b)(i)(A)).
(ii) In the event that the Company has a Net Loss for a Fiscal Year, (A) for any Member as to whom the allocation pursuant to Section 4.3(a) would increase its Capital Account, such allocation shall be comprised of a proportionate share of the Company’s items of income and gain entering into the computation of Net Loss for such Fiscal Year; and
Determination of Items Comprising Allocations. If the Partnership has a Profits for an Allocation Year, then, (A) for any Partner whose Partially Adjusted Capital Account balance needs to be decreased pursuant to Section 2.1(h)(ii), the allocations required by Section 2.1(h)(ii) shall be comprised of a proportionate share (based on the relative amounts by which their Partially Adjusted Capital Accounts need to reduced) of each of the Partnership’s items of deduction or loss entering into the computation of Profits for such year to the extent necessary to eliminate, to the maximum extent possible for such year, the differential between their respective Partially Adjusted Capital Accounts and Target Capital Accounts, and (B) the allocations made pursuant to Section 2.1(h)(ii) in respect of each other Partner not described in the foregoing Section 2.1(h)(iii)(X) (A) shall be comprised of a proportionate share (based upon the relative amounts by which their Partially Adjusted Capital Accounts need to be adjusted) of each Partnership item of income, gain, deduction and loss entering into the computation of Profits for such year (other than the portion of each Partnership item of deduction and loss, if any, allocated pursuant to Section 2.1(h)(iii)(X)(A) hereof).
Determination of Items Comprising Allocations. In the event that the Partnership has Net Income for a Fiscal Year,
Determination of Items Comprising Allocations. (i) In the event that the Partnership has Net Income for a Fiscal Year,
(A) for any Partner as to whom the allocation pursuant to Section 1.2(a) of this Exhibit would reduce its Capital Account, such allocation shall comprise a proportionate share of each of the Partnership’s items of expense or loss entering into the computation of Net Income for such Fiscal Year; and
(B) the allocation pursuant to Section 1.2(a) of this Exhibit in respect of each Partner (other than a Partner referred to in Section 1.2(b)(i)(A) of this Exhibit) shall comprise a proportionate share of each Partnership item of income, gain, expense and loss entering into the computation of Net Income for such Fiscal Year (other than the portion of each Partnership item of expense and loss, if any, that is allocated pursuant to Section 1.2(b)(i)(A) of this Exhibit).
(ii) In the event that the Partnership has a Net Loss for a Fiscal Year,
(A) for any Partner as to whom the allocation pursuant to Section 1.2(a) of this Exhibit would increase its Capital Account, such allocation shall comprise a proportionate share of the Partnership’s items of income and gain entering into the computation of Net Loss for such Fiscal Year; and
(B) the allocation pursuant to Section 1.2(a) of this Exhibit in respect of each Partner (other than a Partner referred to in Section 1.2(b)(ii)(A)) of this Exhibit shall comprise a proportionate share of each Partnership item of income, gain, expense and loss entering into the computation of Net Loss for such Fiscal Year (other than the portion of each Partnership item of income and gain, if any, that is allocated pursuant to Section 1.2(b)(ii)(A) of this Exhibit).
Determination of Items Comprising Allocations. In the event that the Company has Profit for a Taxable Year; (1) for any Member as to whom the allocation pursuant to Section 5.3(A) is negative, such allocation shall be comprised of a proportionate share of each of the Company's items of expense or loss entering into the computation of Profits for such Taxable Year; and (2) the allocation pursuant to Section 5.3(A) in respect of each Member (other than a Member referred to in Section 5.3(B)(i)(a)) shall be comprised of a proportionate share of each Company item of income, gain, expense and loss entering into the computation of Net Income for such Taxable Year (other than the portion of each Company item of expense and loss, if any, that is allocated pursuant to Section 5.3(B)(i)(a)).
Determination of Items Comprising Allocations. (i) In the event that the Company has Net Profit for a taxable year,
(1) for any Member as to whom the allocation pursuant to Section 6.01(a) is negative, such allocation shall be comprised of a proportionate share of each of the Company’s items of Loss entering into the computation of Net Profits for such taxable year; and
(2) the allocation pursuant to Section 6.01(a) in respect of each Member (other than a Member referred to in Section 6.01(b)(i)(1)) shall be comprised of a proportionate share of each Company item of Profit and Loss entering into the computation of Net Profit for such taxable year (other than the portion of each Company item of Loss, if any, that is allocated pursuant to Section 6.01(b)(i)(1).
(ii) In the event that the Company has a Net Loss for a taxable year,
(1) for any Member as to whom the allocation pursuant to Section 6.01(a) is positive, such allocation shall be comprised of a proportionate share of the Company’s items of Profit entering into the computation of Net Loss for such taxable year; and
(2) the allocation pursuant to Section 6.01(a) in respect of each Member (other than the Member referred to in Section 6.01(b)(ii)(1)) shall be comprised of a proportionate share of each Company item of Profit and Loss entering into the computation of Net Loss for such taxable year (other than the portion of each Company item of Profit, if any, that is allocated pursuant to Section 6.01(b)(ii)(1)).
Determination of Items Comprising Allocations. (A) If the Company has Profits for a Tax Year or other period, then, (1) for any Member whose Partially Adjusted Capital Account balance for such Tax Year or other period exceeds such Member’s Target Capital Account balance for such Tax Year or other period, the Member shall be allocated expense and loss comprised of a proportionate share of each of the Company’s items of expense or loss entering into the computation of Profits for such Tax Year or other period to the extent necessary to eliminate, to the maximum extent possible, the differential between such Member’s Partially Adjusted Capital Account and Target Capital Account, and (2) the allocations made pursuant to Section 5.3(a)(ii) in respect of each other Member not described in clause (1) above shall be comprised of Profits for such Tax Year or other period (as determined by eliminating the portion of each Company item of expense and loss, if any, that is allocated pursuant to clause (1) above); provided that, if, for such Tax Year or other period, the items of expense or loss of the Company are less than the aggregate differences between the Partially Adjusted Capital Account balances of the Members described in clause (1) above for such Tax Year or other period and the Target Capital Account balances of such Members for such Tax Year or other period, then the available items of expense and loss of the Company for such Tax Year or other period shall be allocated among such Members in proportion to the differences in the balances of such Members’ respective Partially Adjusted Capital Accounts and Target Capital Accounts for such Tax Year or other period.
(B) If the Company has Losses for a Tax Year or other period, then, (1) for any Member whose Target Capital Account balance for such Tax Year or other period exceeds such Member’s Partially Adjusted Capital Account balance for such Tax Year or other period, the Member shall be allocated income and gain comprised of a proportionate share of each of the Company items of income or gain entering into the computation of Losses for such Tax Year or other period to the extent necessary to eliminate, to the maximum extent possible, the difference between such Member’s Partially Adjusted Capital Account and Target Capital Account, and (2) the allocations made pursuant to Section 5.3(a)(ii) in respect of each other Member not described in clause (1) above shall be comprised of Losses for such Tax Year or other period (as determined by eliminating the port...
