General Allocations of Net Profits and Net Losses Sample Clauses

General Allocations of Net Profits and Net Losses. (a) Except as provided in Section 6.02 below, the Net Profits and Net Losses of the Partnership for any year shall be allocated among the Partners in accordance with their respective Percentage Interests.
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General Allocations of Net Profits and Net Losses. (a) Except as provided in Section 2.04 below (which shall be applied first), Net Profits of the Partnership shall be allocated as follows: (i) First, to any Partners having negative Capital Account balances, in proportion to and to the extent of such negative balances; and (ii) The balance, if any, to the Partners in such proportions and in such amounts as would result in the respective Capital Account balance of each Partner equaling, as nearly as possible, such Partner's share of the then Partnership Capital determined by calculating the amount the Partner would receive if an amount equal to the Partnership Capital were distributed to the Partners in accordance with the provisions of Section 3.02 hereof. (b) Except as provided in Section 2.04 below (which shall be applied first), Net Losses of the Partnership shall be allocated among the Partners as follows: (i) First, to each Partner with a positive Capital Account balance, in the amount of such positive balance; provided, however, that if the amount of Net Losses to be allocated is less than the sum of the Capital Account balances of all Partners having positive Capital Account balances, then the Net Losses shall be allocated to the Partners in such proportions and in such amounts as would result in the respective Capital Account balance of each Partner equaling, as nearly as possible, such Partner's share of the then Partnership Capital determined as set forth in Section 2.03(a)(ii) above; and (ii) The balance, if any, to the Partners in proportion to their respective Percentage Interests. (c) If the amount of Net Profits allocable to the Partners pursuant to Section 2.03(a)(ii) or the amount of Net Losses allocable to them pursuant to Section 2.03(b)(i) is insufficient to allow the Capital Account balance of each Partner to equal such Partner's share of the Partnership Capital, such Net Profits or Net Losses shall be allocated among the Partners in such a manner as to decrease the differences between the Partners' respective Capital Account balances and their respective shares of the Partnership Capital in proportion to such differences. (d) Allocations of Net Profits and Net Losses provided for in this Section 2.03 shall generally be made as of the end of the fiscal year of the Partnership; provided, however, that allocations of Net Profits and Net Losses upon liquidation of the Partnership shall be made no later than immediately prior to the time that the distributions upon liquidation pursuant to ...
Sample 1
General Allocations of Net Profits and Net Losses. A. Except as otherwise provided in Section IV of this Allocations Exhibit, Net Profits or Net Losses will be allocated to each Member in such manner as to cause the balance in the Member’s Capital Account, immediately after making all of the allocations required for the relevant Fiscal Year, to equal (as nearly as possible) (a) the distributions that would be made to the Member if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their respective Gross Asset Values, all Company liabilities were satisfied (limited with respect to each nonrecourse liability to the Gross Asset Value of the assets securing the liability), and the net assets of the Company were distributed to the Members in accordance with the terms of the Agreement immediately after making the allocation, minus (b) the Member’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately before the hypothetical sale of assets, minus (c) the Member’s obligation to make any capital contribution pursuant to the Agreement. B. The allocation provisions contained in this Section III are intended to comply with Code Section 704(b) and the Treasury Regulations promulgated thereunder.
Sample 1
General Allocations of Net Profits and Net Losses. After giving effect to the special allocations in Section 5.2 and 5.3 hereof, the following shall apply: 5.1.1. Portfolio Investment Profit shall be allocated among the Members in the following order and priority: (a) first, to the extent Portfolio Investment Loss has been allocated among the Members, Portfolio Investment Profit from the same Portfolio Investment as that generating the Portfolio Investment Loss shall be allocated to the Interested Members in a manner that reverses such prior allocations of Portfolio Investment Loss until the cumulative Portfolio Investment Profit so allocated equals the cumulative Portfolio Investment Loss therefrom then and previously allocated pursuant to Section 5.1.2 and not previously offset pursuant to this Section 5.1.1(a); then (b) second, to the extent other Portfolio Investment Loss has been allocated among the Members, Portfolio Investment Profit from other Portfolio Investments shall be allocated to the Interested Members in a manner that reverses such prior allocations of Portfolio Investment Loss until the cumulative Portfolio Investment Profit so allocated equals the cumulative Portfolio Investment Loss therefrom then and previously allocated pursuant to Section 5.1.2 and not previously offset pursuant to Section 5.1.1(a) or this Section 5.1.1(b), a pro rata (based on total Portfolio Investment Profit then being allocated) portion of each Portfolio Investment's Portfolio Investment Profit being used for such purpose; then (c) third, with respect to each Portfolio Investment's remaining Portfolio Investment Profit, to the Class B Member, in an amount equal to the product of the Portfolio Investment Profit then being allocated multiplied by the Class B Member's Percentage Interest with respect to the Portfolio Investment generating that Portfolio Investment Profit, then (d) fourth, with respect to each Portfolio Investment's remaining Portfolio Investment Profit, to the Class A Member until the cumulative Portfolio Investment Profit then and previously allocated to the Class A Member pursuant to this Section 5.5.1(d) equals the cumulative amount then distributable (whether or not then distributable) and previously distributable to the Class A Member pursuant to Section 4.2.1(d)(i) and 4.2.2(c)(i). (e) fifth, one hundred percent (100%) to the Class C Members (pro rata in accordance with their Sharing Percentages) until the cumulative Portfolio Investment Profit then and previously allocated to such Members purs...
Sample 1
General Allocations of Net Profits and Net Losses. After giving effect to the special allocations in Sections 6.4 and 6.5 hereof, the following shall apply: 6.3.1. In accordance with Section 6.1, with respect to each Portfolio Investment, Portfolio Investment Profit and Portfolio Investment Loss shall be allocated among the Class B Members of each Annual Investment Group having an interest therein, to the Class B Members that are members of the Annual Investment Group that has an interest in the Portfolio Investment generating the Portfolio Investment Profit or Portfolio Investment Loss being allocated. All allocations to such Class B Members shall be made pro rata in accordance with the Bonus Contribution to the Annual Investment Group that has an interest in the Portfolio Investment generating Portfolio Investment Profit or Portfolio Investment Loss. 6.3.2. All Unattributable Expenses shall be allocated to the Class B Members in proportion to the aggregate Annual Bonus contributions contributed by each such Member to the Company without regard to Annual Investment Group.
Sample 1
General Allocations of Net Profits and Net Losses. (a) Except as provided in Sections 2.08 and 2.09 below (which shall be applied first), any Net Profits of the LLC shall be allocated as follows: (i) First, to any Members having negative Capital Account balances, in proportion to and to the extent of such negative balances; and (ii) The balance, if any, 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 LLC Capital determined by calculating the amount the Member would receive if an amount equal to the LLC Capital were distributed to the Members in accordance with the provisions of Section 3.02 hereof. (b) Except as provided in Sections 2.08 and 2.09 below (which shall be applied first), any Net Losses of the LLC shall be allocated among the Members as follows: (i) First, to each Member with a positive Capital Account balance, in the amount of such positive balance; provided, however, that if the amount of Net Losses to be allocated is less than the sum of the Capital Account balances of all Members having positive Capital Account balances, then the 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 LLC Capital determined as set forth in Section 2.07(a)(ii) above; and (ii) The balance, if any, to the Members in accordance with their percentage interests as set forth on Schedule B hereto ("Percentage Interests").
Sample 1
General Allocations of Net Profits and Net Losses. (a) Except as provided in Section 2.05 below (which shall be applied first), Net Profits of the Partnership for any relevant period shall be allocated as follows: (i) First, to any Partners having negative Capital Account balances, in proportion to and to the extent of such negative balances; and (ii) The balance, if any, to the Partners in such proportions and in such amounts as would result in the Capital Account balance of each Partner equalling, as nearly as possible, such Partner's share of the then Partnership Capital determined by calculating the amount the Partner would receive if an amount equal to the Partnership Capital (as defined below) were distributed to the Partners in accordance with the provisions of Section 3.01(b) hereof.
Sample 1
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General Allocations of Net Profits and Net Losses. (a) Except as provided in Section 2.05 below, for any Fiscal Period the Net Profits of the Partnership from any source, including the receipt of interest and dividends or from a sale or other disposition of all or any portion of the Partnership's property (including Net Profits deemed realized from distributions of property in kind and including positive adjustments to Capital Accounts resulting from an election pursuant to Section 2.03(c) hereof) or upon liquidation of the Partnership shall be allocated to and among the Partners in accordance with their respective number of Interests in the Partnership. (b) Except as provided in Section 2.05 below, for any Fiscal Period the Net Losses of the Partnership from any source, including operations or from a sale or other disposition of all or any portion of the Partnership's property (including Net Losses deemed realized from distributions of property in kind and including negative adjustments to Capital Accounts specified in Section 2.03(c) hereof) or upon liquidation of the Partnership shall be allocated to and among the Partners in accordance with their respective number of Interests in the Partnership.
Sample 1

Related to General Allocations of Net Profits and Net Losses

  • Allocations of Net Profits and Net Losses Except as otherwise set forth herein, Net Profits and Net Losses shall be allocated for each Fiscal Year to the Members in proportion to their respective Capital Accounts.

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • Allocations of Net Income and Net Loss Except as otherwise provided in this Agreement, after giving effect to the special allocations in subparagraph 1(c) and paragraph 2, Net Income, Net Loss and, to the extent necessary, individual items of income, gain, loss or deduction, of the Partnership for each fiscal year or other applicable period of the Partnership shall be allocated among the General Partner and Limited Partners in accordance with their respective Percentage Interests.

  • Allocations of Profits and Losses Except as otherwise provided in this Agreement, Profits and Losses (and, to the extent necessary, individual items of income, gain or loss or deduction of the Partnership) shall be allocated in a manner such that the Capital Account of each Partner after giving effect to the Special Allocations set forth in Section 5.05 is, as nearly as possible, equal (proportionately) to (i) the distributions that would be made pursuant to Article IV if the Partnership were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Partnership liabilities were satisfied (limited with respect to each non-recourse liability to the Carrying Value of the assets securing such liability) and the net assets of the Partnership were distributed to the Partners pursuant to this Agreement, minus (ii) such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. For purposes of this Article V, each Unvested Unit shall be treated as a Vested Unit. Notwithstanding the foregoing, the General Partner shall make such adjustments to Capital Accounts as it determines in its sole discretion to be appropriate to ensure allocations are made in accordance with a partner’s interest in the Partnership.

  • Timing and Amount of Allocations of Net Income and Net Loss Net Income and Net Loss of the Partnership shall be determined and allocated with respect to each Partnership Year of the Partnership as of the end of each such year. Subject to the other provisions of this Article 6, an allocation to a Partner of a share of Net Income or Net Loss shall be treated as an allocation of the same share of each item of income, gain, loss or deduction that is taken into account in computing Net Income or Net Loss.

  • Allocation of Net Income and Net Loss Net Income or Net Loss of the Partnership shall be determined as of the end of each calendar year and as of the end of any interim period extending through the day immediately preceding any (i) disproportionate Capital Contribution, (ii) disproportionate distribution, (iii) Transfer of a Partnership Interest in accordance with the terms of this Agreement, or (iv) Withdrawal Event. If a calendar year includes an interim period, the determination of Net Income or Net Loss for the period extending through the last day of the calendar year shall include only that period of less than twelve (12) months occurring from the day immediately following the last day of the latest interim period during the calendar year and extending through the last day of the calendar year. For all purposes, including income tax purposes, Net Income, if any, of the Partnership for each calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period. In the event of a Net Loss for a particular calendar year or interim period, then, for such calendar year or interim period, the Net Loss for such calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period.

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • General Allocations The items of Profit and Loss of the Partnership for each fiscal year or other applicable period, other than any items allocated under Section 5.1(a), shall be allocated among the Partners in a manner that will, as nearly as possible (after giving effect to the allocations under Section 5.1(a), 5.1(c), 5.1(f), 5.1(g) and 5.2(c)) cause the Capital Account balance of each Partner at the end of such fiscal year or other applicable period to equal (i) the amount of the hypothetical distribution that such Partner would receive if the Partnership were liquidated on the last day of such period and all assets of the Partnership, including cash, were sold for cash equal to their Carrying Values, taking into account any adjustments thereto for such period, all liabilities of the Partnership were satisfied in full in cash according to their terms (limited with respect to each nonrecourse liability to the Carrying Value of the assets securing such liability) and the remaining cash proceeds (after satisfaction of such liabilities) were distributed in full pursuant to Section 5.2, minus (ii) the sum of such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain and the amount, if any and without duplication, that the Partner would be obligated to contribute to the capital of the Partnership, all computed as of the date of the hypothetical sale of assets. Notwithstanding the foregoing, the General Partner may make such allocations as it deems reasonably necessary to give economic effect to the provisions of this Agreement, taking into account facts and circumstances as the General Partner deems reasonably necessary for this purpose.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Profits and Losses For financial accounting and tax purposes, the Company’s net profits or net losses shall be determined on an annual basis in accordance with the manner determined by the Board. In each year, profits and losses shall be allocated entirely to the Member.

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