First Tier Losses Clause Samples
First Tier Losses. First, to those Members with positive balances in their Capital Accounts in amounts equal to their respective Capital Account balances at the end of such Fiscal Year (or part thereof); provided, however, if the amount of Net Losses to be allocated is less than the sum of the Capital Account balances of all of the Members having positive Capital Account balances then such Net Losses shall be allocated to the Members in such proportions and in such amounts as would result in the Capital Account balance of each Member equaling, as nearly as possible, such Member’s share of the then Company Capital determined by calculating the amount each Member would receive if an amount equal to the Company Capital were distributed to the Members in accordance with the provisions of Section 7.1 or 7.2, as applicable; and
First Tier Losses. First, to the Members in proportion to, and to the extent of, the positive balance standing in each such Member’s Capital Account; and
First Tier Losses. First, to the Members in proportion to, and to the extent of, the excess, if any, of (i) any Net Profits previously allocated to the Members pursuant to Sections 4.02(b) through 4.02(d) for the current and all prior fiscal years of the Company (such Net Losses to be allocated in the reverse order in which such Net Profits were allocated pursuant to Sections 4.02(b) through 4.02(d) for the current and all prior fiscal years of the Company), less (ii) any Net Losses previously allocated to the Members pursuant to this Section 4.01(a) for the current and all prior fiscal years of the Company;
First Tier Losses. First, to the Limited Partner to the extent of the amount by which the aggregate cumulative Net Profits for the current and all prior fiscal years of the Partnership allocated to such Partner throughout the term hereof pursuant to Section 4.02(c) exceeds the aggregate cumulative Net Losses for the current and all prior fiscal years of the Partnership allocated to such Partner throughout the term hereof pursuant to this Section 4.01(a);