Common use of Limitation on Allocation of Losses Clause in Contracts

Limitation on Allocation of Losses. The Losses allocated to any Partner pursuant to Section 5.2 of this Agreement shall not exceed the maximum amount of Losses that can be so allocated without causing such Partner to have an Adjusted Capital Account Deficit at the end of any fiscal year. All Losses in excess of the limitation set forth in this Section 5.3 with respect to any Partner shall be allocated to other Partners in accordance with this Section 5.3 and to the extent Losses exceed the limitation set forth in this Section 5.3 with respect to each Limited Partner, such amount of any remaining Losses shall be allocated to the General Partner.

Appears in 5 contracts

Samples: Limited Partnership Agreement (Cke Restaurants Inc), Limited Partnership Agreement (Aeroways, LLC), Limited Partnership Agreement (Verso Sartell LLC)

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Limitation on Allocation of Losses. The Notwithstanding the provisions of Section 5.2, Losses allocated to any Partner pursuant to Section 5.2 of this Agreement shall not exceed the maximum amount of Losses that can be so allocated without causing such the Limited Partner or Special General Partner to have an Adjusted Capital Account Deficit at the end of any fiscal yearFiscal Year. All Losses in excess of the limitation set forth in this Section 5.3 with respect to any Partner shall be allocated to other Partners in accordance with this Section 5.3 and to the extent Losses exceed the limitation set forth in this Section 5.3 with respect to each Limited Partner, such amount of any remaining Losses 5.11 shall be allocated to the General Partner.

Appears in 2 contracts

Samples: Merry Maids Limited Partnership, ServiceMaster Consumer Services Limited Partnership

Limitation on Allocation of Losses. The Notwithstanding any provision of this Agreement, Losses shall not be allocated to any Partner pursuant to Section 5.2 of this Agreement shall not exceed the maximum amount of Losses that can be so allocated without causing such a Partner to have the extent such allocation would result in the Partner having an Adjusted Capital Account Deficit at the end of any fiscal yearFiscal Year. All Losses in excess of the limitation set forth in this Section 5.3 with respect to any Partner shall be allocated to other Partners in accordance with this Section 5.3 and to the extent Losses exceed the limitation set forth in this Section 5.3 with respect to each Limited Partner, such amount of any remaining Losses shall be allocated to the General Partnerother Partners in accordance with the other provisions of this Article 6; provided, however, that appropriate adjustments shall be made to the allocation of future Profits in order to offset the specially allocated Losses hereunder.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Phillips Edison - ARC Shopping Center REIT Inc.), Limited Partnership Agreement (Phillips Edison - ARC Shopping Center REIT Inc.)

Limitation on Allocation of Losses. The Losses allocated to any Partner pursuant to Section 5.2 of this Agreement Third Amendment shall not exceed the maximum amount of Losses that can be so allocated without causing such Partner to have an Adjusted Capital Account Deficit at the end of any fiscal year. All Losses in excess of the limitation set forth in this Section 5.3 with respect to any Partner shall be allocated to other Partners in accordance with this Section 5.3 and to the extent Losses exceed the limitation set forth in this Section 5.3 with respect to each Limited Partner, such amount of any remaining Losses shall be allocated to the General Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Verso Paper Corp.), Limited Partnership Agreement (Verso Paper Corp.)

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Limitation on Allocation of Losses. The Notwithstanding the provisions of Section 5.2, Losses allocated to any Partner pursuant to Section 5.2 of this Agreement shall not exceed the maximum amount of Losses that can be so allocated without causing such the Limited Partner to have an Adjusted Capital Account Deficit at the end of any fiscal yearFiscal Year. All Losses in excess of the limitation set forth in this Section 5.3 with respect to any Partner shall be allocated to other Partners in accordance with this Section 5.3 and to the extent Losses exceed the limitation set forth in this Section 5.3 with respect to each Limited Partner, such amount of any remaining Losses 5.11 shall be allocated to the General Partner.

Appears in 1 contract

Samples: ServiceMaster Consumer Services Limited Partnership

Limitation on Allocation of Losses. The Losses allocated to any ----------------------------------- Partner pursuant to Section 5.2 of this Agreement 6.2 shall not exceed the maximum amount of Losses that can be so allocated without causing such Partner to have an Adjusted Capital Account Deficit at the end of any fiscal year. All Losses in excess of the limitation set forth in this Section 5.3 with respect to any Partner shall be allocated to other Partners in accordance with this Section 5.3 and to the extent Losses exceed the limitation set forth in this Section 5.3 with respect to each Limited Partner, such amount of any remaining Losses 6.3 shall be allocated to the General Partnerother Partners, pro rata to the allocation of other Losses to such Partners.

Appears in 1 contract

Samples: Limited Partnership Agreement (Pavia Kenneth W Sr)

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