Common use of Limitation on Loss Allocations Clause in Contracts

Limitation on Loss Allocations. The Losses allocated pursuant to Section 3.2(b) hereof and the next sentence of this Section 3.2(c) to any Partner shall not exceed the maximum amount of Losses that may be allocated to such Partner without causing such Partner to have an Adjusted Capital Account Deficit at the end of such fiscal year. All Losses in excess of the limitation in this Section 3.2(c) shall be allocated solely to the other Partners in proportion to their respective Percentage Interests. If no other Partner may receive an additional allocation of Losses pursuant to the preceding sentence of this Section 3.2(c), such additional Losses not allocated pursuant to Section 3.2(b) of this Agreement to or the preceding sentence shall be allocated solely to the General Partner.

Limitation on Loss Allocations. The Losses allocated pursuant to Section 3.2(b5.1(b) hereof and the next sentence of this Section 3.2(c5.1(c) to any Partner for any Fiscal Year shall not exceed the maximum amount of Losses that may be allocated to such Partner without causing such Partner to have an Adjusted Capital Account Deficit at the end of such fiscal yearFiscal Year. All Losses in excess of the limitation in this Section 3.2(c5.1(c) shall be allocated solely to the other Partners in proportion to their respective Percentage Interests. If no other Partner may receive an additional allocation of Losses pursuant to the preceding sentence of this Section 3.2(c5.1(c), such additional Losses not allocated pursuant to Section 3.2(b5.1(b) of this Agreement to or the preceding sentence shall be allocated solely to the General PartnerPartners.

Limitation on Loss Allocations. The Losses allocated pursuant to Section 3.2(b5.1(b) hereof and the next sentence of this Section 3.2(c5.1(c) to any Partner for any Fiscal Year shall not exceed the maximum amount of Losses that may be allocated to such Partner without causing such Partner to have an Adjusted Capital Account Deficit at the end of such fiscal yearFiscal Year. All Losses in excess of the limitation in this Section 3.2(c5.1(c) shall be allocated solely to the other Partners in proportion to their respective Percentage Interests. If no other Partner may receive an additional allocation of Losses pursuant to the preceding sentence of this Section 3.2(c5.1(c), such additional Losses not allocated pursuant to Section 3.2(b5.1(b) of this Agreement to or the preceding sentence shall be allocated solely to the Managing General Partner.