Excess Deficit Balances. Subject to paragraph (a) immediately preceding, no Net Losses or deduction shall be allocated to any Member to the extent that such allocation would cause or increase an Excess Deficit Balance in the Capital Account of such Member. Such Net Losses or deduction shall be reallocated away from such Member and to the other Members in accordance with the Agreement, but only to the extent that such reallocation would not cause or increase Excess Deficit Balances in the Capital Accounts of such other Members.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (CBL/Regency I, LLC), Limited Liability Company Agreement (CBL & Associates Properties Inc), Limited Liability Company Agreement (CBL & Associates Properties Inc)
