Limitation on Allocation of Net Losses. There will be no allocation of Net Losses to any Member to the extent that the allocation would create a negative balance in the Capital Account of that Member (or increase the amount by which that Member's Capital Account balance is negative).
Appears in 7 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
Limitation on Allocation of Net Losses. There will be no allocation of Net Losses to any Member to the extent that the allocation would create a negative balance in the Capital Account of that Member (or increase the amount by which that Member's ’s Capital Account balance is negative).
Appears in 2 contracts
Samples: Subscription Agreement, Company Agreement
Limitation on Allocation of Net Losses. There will shall be no allocation of Net Losses to any Member to the extent that the such allocation would create a negative balance in the Capital Account of that such Member (or increase the amount by which that such Member's ’s Capital Account balance is negative).negative).
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Limitation on Allocation of Net Losses. There will shall be no allocation of Net Losses to any Member to the extent that the such allocation would create a negative balance in the Capital Account of that such Member (or increase the amount by which that such Member's ’s Capital Account balance is negative).
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Limitation on Allocation of Net Losses. There will shall be no allocation of Net Losses to any Member to the extent that the such allocation would create a negative balance in the Capital Account of that such Member (or increase the amount by which that such Member's ’s Capital Account balance is negative).negative).
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