Limitation on Allocation of Losses. The Losses allocated to any Member pursuant to Section 6.2 shall not exceed the maximum amount of Losses that can be so allocated without causing such Member 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 6.3 shall be allocated to the other Members, pro rata to the allocation of other Losses to such Members, subject to the limitations of this Section 6.3.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement (Hersha Hospitality Trust), Limited Liability Company Operating Agreement (Hersha Hospitality Trust)
Limitation on Allocation of Losses. The Notwithstanding the provisions of Section 5.2, Losses allocated to any Member pursuant to Section 6.2 5.2 shall not exceed the maximum amount of Net Losses that can be so allocated without causing such Member a 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 6.3 5.13 shall be allocated to the other Members, pro rata to the allocation of other Losses to such Members, subject to the limitations of this Section 6.3Managing General Partner.
Appears in 1 contract
Samples: ARAMARK FHC Kansas, Inc.
Limitation on Allocation of Losses. The Losses allocated to any Member pursuant to Section 6.2 shall not exceed the maximum amount of Losses that can be so allocated without causing such Member 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 6.3 shall be allocated to the other Members, pro rata to the allocation of other Losses to such Members, subject to the limitations of this Section 6.3.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Inland Diversified Real Estate Trust, Inc.)
Limitation on Allocation of Losses. The Losses allocated to any a Member pursuant to Section 6.2 6.1(c) shall not exceed the maximum amount of Losses that can be so allocated without causing such that Member to have an Adjusted Capital Account Deficit at the end of any fiscal yearFiscal Year. All Losses in excess If some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section 6.1(c), the foregoing limitation set forth in this Section 6.3 shall be allocated applied on a Member-by-Member basis so as to allocate the other Members, pro rata to the allocation of other maximum permissible Losses to such Members, subject to the limitations of this Section 6.3each Member under Regulation § 1.704-1(b)(2)(ii)(d).
Appears in 1 contract
Samples: Operating Agreement (Retail Opportunity Investments Corp)
