Limitation on Net Loss Allocations. Notwithstanding anything contained in this Section 8, no Member shall be allocated Net Loss 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 2 contracts
Samples: Operating Agreement (Emeritus Corp\wa\), Limited Liability Company Agreement (Emeritus Corp\wa\)
Limitation on Net Loss Allocations. Notwithstanding anything contained in this Section 87, no Member shall be allocated Net Loss 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 1 contract
Samples: Partnership Agreement
Limitation on Net Loss Allocations. Notwithstanding anything contained in this Section 8Article 7, no Member shall be allocated Net Loss to the extent such allocation would cause a negative balance in such Member's Deemed ’s Capital Account as of the end of the taxable year to which such allocation relates.
Appears in 1 contract
Samples: Operating Agreement
