Limitation on Loss Allocation. Notwithstanding the provisions of Section 4.1 hereof, if the amount of Loss that would otherwise be allocated to a Member in any fiscal year under Section 4.1.2 hereof would cause or increase a Member's Adjusted Capital Account Deficit as of the last day of such fiscal year, then a proportionate part of such Loss equal to such excess shall be allocated to the other Members to the extent such allocation can be made without violating the provisions of this Section 4.1 with respect to such other Members.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Renal Care Group Inc), Limited Liability Company Agreement (Renal Care Group Inc)
Limitation on Loss Allocation. Notwithstanding the provisions of Section 4.1 4.1.1 hereof, if the amount of Loss that would otherwise be allocated to a Member in any fiscal year under Section 4.1.2 4.1.1 hereof would cause or increase a Member's Adjusted Capital Account Deficit as of the last day of such fiscal year, then a proportionate part of such Loss equal to such excess shall be allocated to the other Members to the extent such allocation can be made without violating the provisions of this Section 4.1 4.1.1 with respect to such other Members.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Moody National REIT I, Inc.)
Limitation on Loss Allocation. Notwithstanding the provisions of Section 4.1 4.1.4 hereof, if the amount of Loss that would otherwise be allocated to a Member in any fiscal year under Section 4.1.2 4.1.4 hereof would cause or increase a Member's ’s Adjusted Capital Account Deficit as of the last day of such fiscal year, then a proportionate part of such Loss equal to such excess shall be allocated to the other Members to the extent such allocation can be made without violating the provisions of this Section 4.1 4.1.4(a) with respect to such other Members.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Moody National REIT I, Inc.)
Limitation on Loss Allocation. Notwithstanding the provisions of Section 4.1 hereof, if the amount of Loss that would otherwise be allocated to a Member in any fiscal year under Section 4.1.2 hereof would cause or increase a Member's Adjusted Capital Account Deficit as of the last day of such fiscal year, then a proportionate part of such Loss equal to such excess shall be allocated to the other Members to the extent such allocation can be made without violating the provisions of this Section 4.1 4.1.2(b) with respect to such other Members.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Ebank Financial Services Inc)
