Common use of Limitation on Losses Clause in Contracts

Limitation on Losses. Notwithstanding the general allocation of Taxable Income and Tax Losses described in Section 10.1, no Member shall be allocated Tax Losses in excess of the aggregate of such Member's positive Capital Account balance, Company Minimum Gain (within the meaning of Treas. Reg. 1.704-2(b)(2)), and Member Nonrecourse Minimum Gain (within the meaning of Treas. Reg. 1.704-2(i)(3)), until such time as no Member has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members in accordance with their Participating Percentages. Furthermore, no Member shall be allocated Tax Losses where it is reasonably anticipated that such Member's Capital Account shall be negative at the end of the fiscal year in which the Tax Losses arise or at the end of the subsequent fiscal year, as a result of distributions of Net Cash Flow during such periods, until such time as no Member would have a positive Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members in accordance with their Participating Percentages. Tax Losses not allocated to a Member under this Section 10.2 shall be reallocated among those Members with positive Capital Account balances in accordance with their Participating Percentages.

Limitation on Losses. Notwithstanding the general allocation of Taxable Income Profits and Tax Losses described in Section 10.1Article 6, no Member Unitholder shall be allocated Tax Losses in excess of the aggregate of such Member's Unitholder’s positive Capital Account balance, Company Partnership Minimum Gain (within the meaning of Treas. Reg. § 1.704-2(b)(2)), and Member Partner Nonrecourse Debt Minimum Gain (within the meaning of Treas. Reg. § 1.704-2(i)(3)) (the “Adjusted Capital Account”), until such time as no Member Unitholder has a positive Adjusted Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members in accordance Unitholders pro rata with their Participating PercentagesUnits. Furthermore, no Member Unitholder shall be allocated Tax Losses where it is reasonably anticipated that such Member's Unitholder’s Adjusted Capital Account shall be negative at the end of the fiscal year Fiscal Year in which the Tax Losses arise or at the end of the subsequent fiscal yearFiscal Year, as a result of distributions of Net Cash Flow during such periods, until such time as no Member Unitholder would have a positive Adjusted Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members in accordance Unitholders pro rata with their Participating PercentagesUnits. Tax Losses not allocated to a Member Unitholder under this Section 10.2 13.4 shall be reallocated among those Members Unitholders with positive Adjusted Capital Account balances in accordance pro rata with their Participating PercentagesUnits.

Limitation on Losses. Notwithstanding the general allocation of Taxable Income and Tax Losses described in Section 10.19.1, no Member shall be allocated Tax Losses in excess of the aggregate of such Member's ’s positive Capital Account balance, Company balance and such Member’s share of the Company’s Minimum Gain (within the meaning of Treas. Reg. 1.704-2(b)(2))Gain, and Member Nonrecourse Debt Minimum Gain (within the meaning of Treas. Reg. 1.704-2(i)(3))Gain, until such time as no Member has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members pro rata in accordance with their Participating PercentagesUnits. Furthermore, no Member shall be allocated Tax Losses where it is reasonably anticipated that such Member's ’s Capital Account shall be negative at the end of the fiscal year in which the Tax Losses arise or at the end of the subsequent fiscal year, as a result of distributions of Net Cash Flow during such periods, until such time as no Member would have a positive Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members pro rata in accordance with their Participating PercentagesUnits. Tax Losses not allocated to a Member under as a result of this Section 10.2 9.2 shall be reallocated among those Members with positive Capital Account balances pro rata in accordance with their Participating PercentagesUnits.

Limitation on Losses. Notwithstanding the general allocation of -------------------- Taxable Income and Tax Losses described in Section paragraph 10.1, no Member shall be allocated Tax Losses in excess of the aggregate of such Member's positive Capital Account balance, Company Minimum Gain (within the meaning of Treas. Reg. (S) 1.704-2(b)(2)), and Member Nonrecourse Minimum Gain (within the meaning of Treas. Reg. (S) 1.704-2(i)(3)), until such time as no Member has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members in accordance with their Participating PercentagesUnits of Participation. Furthermore, no Member shall be allocated Tax Losses where it is reasonably anticipated that such Member's Capital Account shall be negative at the end of the fiscal year in which the Tax Losses arise or at the end of the subsequent fiscal year, as a result of distributions of Net Cash Flow during such periods, until such time as no Member would have a positive Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members in accordance with their Participating PercentagesUnits of Participation. Tax Losses not allocated to a Member under this Section paragraph 10.2 shall be reallocated among those Members with positive Capital Account balances in accordance with their Participating PercentagesUnits of Participation.

Limitation on Losses. Notwithstanding the general allocation of Taxable Income and Tax Losses described in Section paragraph 10.1, no Member shall be allocated Tax Losses in excess of the aggregate of such Member's ’s positive Capital Account balance, Company Minimum Gain (within the meaning of Treas. Reg. 1.704-2(b)(2)), and Member Nonrecourse Minimum Gain (within the meaning of Treas. Reg. 1.704-2(i)(3)), balances until such time as no Member has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members in accordance with their Participating Percentages. Furthermore, no Member shall be allocated Tax Losses where it is reasonably anticipated that such Member's ’s Capital Account shall be negative at the end of the fiscal year in which the Tax Losses arise or at the end of the subsequent fiscal year, as a result of distributions of Net Cash Flow during such periods, until such time as no Member would have a positive Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members in accordance with their Participating Percentages. Tax Losses not allocated to a Member under this Section paragraph 10.2 shall be reallocated among those Members with positive Capital Account balances in accordance with their Participating Percentages.

Limitation on Losses. Notwithstanding the general allocation of Taxable Income and Tax Losses described in Section 10.1, no Member shall be allocated Tax Losses in excess of the aggregate of such Member's ’s positive Capital Account balance, Company balance and such Member’s share of the Company’s Minimum Gain (within the meaning of Treas. Reg. 1.704-2(b)(2))Gain, and Member Nonrecourse Debt Minimum Gain (within the meaning of Treas. Reg. 1.704-2(i)(3))Gain, until such time as no Member has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Members pro rata in accordance with their Participating PercentagesUnits. Furthermore, no Member shall be allocated Tax Losses where it is reasonably anticipated that such Member's ’s Capital Account shall be negative at the end of the fiscal year Fiscal Year in which the Tax Losses arise or at the end of the subsequent fiscal yearFiscal Year, as a result of distributions Distributions of Net Cash Flow during such periods, until such time as no Member would have a positive Capital Account balance after such reasonably anticipated distributions Distributions of Net Cash Flow, whereupon hereupon subsequent allocations of Tax Losses shall again be allocated among the Members pro rata in accordance with their Participating PercentagesUnits. Tax Losses not allocated to a Member under this Section 10.2 shall be reallocated among those Members with positive Capital Account balances pro rata in accordance with their Participating PercentagesUnits.