Limitation on Allocation of Losses. In no event shall Losses be allocated to a Member to the extent such allocation would result in such Member having an Adjusted Capital Account deficit at the end of any Fiscal Year. All such Losses shall be allocated to the other Member, provided, however, that appropriate adjustments shall be made to the allocation of future Profits in order to offset such specially allocated Losses hereunder.
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Samples: Limited Liability Company Agreement (Carramerica Realty Corp), Limited Liability Company Agreement (Igene Biotechnology Inc), Limited Liability Company Agreement (REITPlus, Inc.)
Limitation on Allocation of Losses. In no event shall Losses be allocated to a Member to the extent such allocation would result in such Member having an Adjusted Capital Account deficit at the end of any Fiscal Allocation Year. All such Losses shall be allocated to the other Member, provided, however, that appropriate adjustments shall be made to Members in accordance with the allocation of future Profits positive balances in order to offset such specially allocated Losses hereunderMembers’ Capital Accounts.
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Limitation on Allocation of Losses. In no event shall Losses be ---------------------------------- allocated to a Member to the extent such allocation would result in such Member having an Adjusted Capital Account deficit at the end of any Fiscal Year. All such Losses shall be allocated to the other Member, provided, however, that appropriate adjustments shall be made to the allocation of future Profits in order to offset such specially allocated Losses hereunder.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Carramerica Realty Corp)
