Limitation on Net Loss Allocation. Notwithstanding anything contained in this Section 12, no Member shall be allocated Net Loss with respect to any Series to the extent such allocation would cause a negative balance in such. Member’s Deemed Capital Account as of the end of the taxable year to which such allocation relates.
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement (HomeStreet, Inc.), Limited Liability Company Operating Agreement (HomeStreet, Inc.)
