Limitation on Allocation of Net Losses. The allocation of Net Losses to any Member pursuant to Section 12.1 hereof shall not exceed the maximum amount of Net Loss that can be so allocated () such Member without causing such Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. To the exter4 an allocation of Net Loss would cause or increase an Adjusted Capital Account Deficit as to any Member, the limitation set forth in this Section 12.2(a)(vi) shall be applied on a Member by Member basis in accordance with their respective Percentage Interests so as to allocate the maximum permissible Net Loss to each Member without causing any Member to have an Adjusted Capital Account Deficit.
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Global Crossing Servicios, S. De R.L. De C.V.)
Limitation on Allocation of Net Losses. The allocation of Net Losses to any Member pursuant to Section 12.1 6.1(a) hereof shall not exceed the maximum amount of Net Loss that can be so allocated () to such Member without causing such Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. To the exter4 extent an allocation of Net Loss would cause or increase an Adjusted Capital Account Deficit as to any Member, the limitation set forth in this Section 12.2(a)(vi6.2(g) shall be applied on a Member by Member basis in accordance with their respective Percentage Interests so as to allocate the maximum permissible Net Loss to each Member without causing any Member to have an Adjusted Capital Account Deficit.
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Provision Holding, Inc.)
Limitation on Allocation of Net Losses. The allocation of Net Losses to any Member pursuant to Section 12.1 11.1 hereof shall not exceed the maximum amount of Net Loss that can be so allocated () to such Member without causing such Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. To the exter4 extent an allocation of Net Loss would cause or increase an Adjusted Capital Account Deficit as to any Member, the limitation set forth in this Section 12.2(a)(vi11.2(a)(vi) shall be applied on a Member by Member basis in accordance with their respective Percentage Interests so as to allocate the maximum permissible Net Loss to each Member without causing any Member to have an Adjusted Capital Account Deficit.
Appears in 1 contract
Samples: Limited Liability Company Agreement (International Assets Holding Corp)
