Loss Limitation. Losses allocated pursuant to Section E.2 thereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.2, the limitation set forth in this Section E.3(h) shall be applied on a Member by Member basis and Losses not allocated to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d).
Appears in 3 contracts
Samples: Operating Agreement (Trinity Place Holdings Inc.), Stock Purchase Agreement (Trinity Place Holdings Inc.), Stock Purchase Agreement (Trinity Place Holdings Inc.)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3 of the Agreement shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23 of the Agreement, the limitation set forth in this Section E.3(h) Paragraph 3 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s 's Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d)) of the Regulations.
Appears in 3 contracts
Samples: Operating Agreement (Finova Group Inc), Operating Agreement (Leucadia National Corp), Operating Agreement (Leucadia National Corp)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3 of the Agreement shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23 of the Agreement, the limitation set forth in this Section E.3(h) Paragraph 3 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s 's Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d)) of - the Regulations.
Appears in 2 contracts
Samples: Operating Agreement (Finova Group Inc), Operating Agreement (Finova Group Inc)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 4.1 shall not exceed the maximum amount of Losses losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Tax Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses losses pursuant to Section E.24.1, the limitation set forth in this Section E.3(h) 4.4 shall be applied on a Member by Member-by-Member basis and Losses losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s Members’ Capital Accounts so as to allocate the maximum permissible Losses losses to each Member under Treasury Regulation Section section 1.704-1(b)(2)(ii)(d)) of the Regulations.
Appears in 2 contracts
Samples: Lease Agreement, Lease Agreement (Health Management Associates Inc)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3.2 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23.2 hereof, the limitation set forth in this Section E.3(h) 3.5 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s 's Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d)) of the Regulations.
Appears in 2 contracts
Samples: Operating Agreement (Metabolix, Inc.), Operating Agreement (Metabolix Inc)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3.1 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some some, but not all all, of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23.1, the limitation set forth in this Section E.3(h) 3.4 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Regulations Section 1.704-1(b)(2)(ii)(d).
Appears in 2 contracts
Samples: Limited Liability Company Agreement (At&t Inc.), Limited Liability Company Agreement (At&t Inc.)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 4.2 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.24.2 hereof, the limitation set forth in this Section E.3(h) 4.5 shall be applied on a Member-by-Member by Member basis basis, and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s Members' Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d)) of the Regulations.
Appears in 2 contracts
Samples: Operating Agreement (Macquarie Infrastructure CO Trust), Operating Agreement (Macquarie Infrastructure CO Trust)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof shall 3.2 will not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event If some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23.2, the limitation set forth in this Section E.3(h) shall 3.4 will be applied on a Member by Member-by-Member basis and Losses not allocated allocable to any Member as a result of such that limitation shall will be allocated to the other Members in accordance with the positive balances in such Member’s those Members’ Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Regulations Section 1.704-1(b)(2)(ii)(d).
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Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3.2 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23.2 hereof, the limitation set forth in this Section E.3(h) 3.5 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d)1 (b)(2)(ii)(d) of the Regulations.
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Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3.3 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23.3 hereof, the limitation set forth in this Section E.3(h) 3.5 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s 's Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Regulations Section 1.704-1(b)(2)(ii)(d).
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Western Wind Energy Corp)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3.2 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23.2 hereof, the limitation set forth in this Section E.3(h) 3.5 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Regulations Section 1.704-1(b)(2)(ii)(d).
Appears in 1 contract
Samples: Operating Agreement
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 9.2 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.29.2 hereof, the limitation set forth in this Section E.3(h) 9.5 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s 's Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d)) of the Regulations.
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Loss Limitation. Losses allocated pursuant to Section E.2 thereof 4.03 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Yearfiscal year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.24.03 hereof, the limitation limitations set forth in this Section E.3(h) 5.05 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s 's Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d1.704(b)(2)(ii)(d).
Appears in 1 contract
Samples: Operating Agreement (Cenex Harvest States Cooperatives)
Loss Limitation. Losses allocated pursuant to Section E.2 thereof 4.2 shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.24.2, the limitation set forth in this Section E.3(h) 4.5 shall be applied on a Member-by-Member by Member basis basis, and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s Members’ Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Regulations Section 1.704-1(b)(2)(ii)(d).
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Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3.2 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to to. Section E.23.2 hereof, the limitation set forth in this Section E.3(h) 3.5 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s 's Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d).1 (b)(2)(ii)(d) of the Regulations. 3.6
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Loss Limitation. Losses allocated pursuant to Section E.2 thereof 3.2 hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have an Adjusted Capital Account Deficit at the end of any Fiscal Allocation Year. In the event some but not all of the Members would have Adjusted Capital Account Deficits as a consequence of an allocation of Losses pursuant to Section E.23.2 hereof, the limitation set forth in this Section E.3(h) 3.5 shall be applied on a Member by Member basis and Losses not allocated allocable to any Member as a result of such limitation shall be allocated to the other Members in accordance with the positive balances in such Member’s 's Capital Accounts so as to allocate the maximum permissible Losses to each Member under Treasury Regulation Section 1.704-1(b)(2)(ii)(d)1 (b)(2)(ii)(a) of the Regulations.
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