LIMITATIONS ON ALLOCATIONS OF LOSSES. The Losses allocated to any Interest Holder pursuant to Section 6.2 hereof for any Allocation Year shall not exceed the maximum amount of Losses that can be so allocated without causing such Interest Holder to have (or to suffer an increase to) an Adjusted Capital Account Deficit at the end of the Allocation Year. Any Losses otherwise allocable to an Interest Holder but for the limitation set forth in this Section 6.3 shall be reallocated among Interest Holders, if any, having positive balances in their Adjusted Capital Accounts in accordance with the provisions of Section 6.2, subject, however, to the limitation of the preceding sentence and a consequent reallocation pursuant to this sentence. Any Losses which may be allocated to no Interest Holder under Section 6.2 due to such limitation shall be allocated among the Interest Holders in the proportions required by Regulations Section 1.704-1(b)(3).
Appears in 5 contracts
Samples: Limited Partnership Agreement (Eme Homer City Generation Lp), Limited Partnership Agreement (Eme Homer City Generation Lp), Limited Partnership Agreement (Eme Homer City Generation Lp)
