Common use of Loss Limitation Clause in Contracts

Loss Limitation. Losses allocated pursuant to Section 6.1(a) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative Capital Account balance at the end of any Fiscal Year (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)). In the event some but not all of the Members would have negative Capital Account balances as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof, the limitation set forth in this Section 6.1(b) shall be applied on a Member by Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to such Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods after a period to which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b).

Loss Limitation. Losses allocated pursuant to Section 6.1(a) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative Capital Account balance at the end of any Fiscal Year (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)). In the event some but not all of the Members would have negative Capital Account balances as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof), the limitation set forth in this Section 6.1(b) shall be applied on a Member by Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to such Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods Fiscal Years after a period any Fiscal Year to which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b).

Loss Limitation. Losses allocated pursuant to Section 6.1(a4.02(a) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative Capital Account balance at the end of any Fiscal Year fiscal year or other relevant period (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)). In the event some but not all of the Members would have negative Capital Account balances as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof4.02(a), the limitation set forth in this Section 6.1(b4.02(b) shall be applied on a Member by Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to such Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods fiscal years or other relevant period after a any period to in which this Section 6.1(b4.02(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b4.01(b).

Loss Limitation. Losses allocated pursuant to Section 6.1(a) hereof 5.1 shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative an Adjusted Capital Account balance Deficit at the end of any Fiscal Year (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6))Allocation Period. In the event If some but not all of the Members would have negative Adjusted Capital Account balances Deficits as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof5.1, the limitation set forth in this Section 6.1(b) 5.4 shall be applied on a Member by Member-by-Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated (a) first, 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 such each Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations ) of Profit and Loss for the periods after a period to which this Section 6.1(b) applies Regulations (until the Capital Account balances of all Members shall be made reduced to zero), and (b) thereafter, in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b)same manner as Nonrecourse Deductions.

Loss Limitation. Losses allocated pursuant to Section 6.1(a) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative Capital Account balance at the end of any Fiscal Year taxable year or other period (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)). In the event some but not all of the Members would have negative Capital Account balances as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof), the limitation set forth in this Section 6.1(b) shall be applied on a Member by Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to such Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods after a period to which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b).

Loss Limitation. Notwithstanding the foregoing provisions of Section 5.1 hereof, the Losses allocated pursuant to Section 6.1(a) 5.1 hereof shall not exceed the maximum amount of Losses that can be so allocated without causing any Member to have a negative an Adjusted Capital Account balance Deficit at the end of any Fiscal Year (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6))Period. In the event some but not all of the Members would have negative Adjusted Capital Account balances Deficits as a consequence of an allocation of Losses pursuant to Section 6.1(a) 5.1 hereof, the limitation set forth in this Section 6.1(b) 5.4 shall be applied on a Member by Member basis and so as to allocate the maximum permissible Losses not allocable to any each Member as a result under Regulations Section 1.704-1(b)(2)(ii)(d). All Losses in excess of such the limitation set forth in this Section 5.4 shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts 's capital accounts so as to allocate the maximum permissible Losses to such each Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods after a period to which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b).

Loss Limitation. Losses allocated pursuant to Section 6.1(a) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative Capital Account balance at the end of any Fiscal Year (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)). In the event some but not all of the Members would have negative Capital Account balances as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof), the limitation set forth in this Section 6.1(b) shall be applied on a Member by Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to such Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods after a period to which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b).

Loss Limitation. Losses allocated pursuant to Section 6.1(a5.1(a) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative Capital Account balance at the end of any Fiscal Year taxable year or other period (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)). In the event some but not all of the Members would have negative Capital Account balances as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof5.1(a), the limitation set forth in this Section 6.1(b5.1(b) shall be applied on a Member by Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to such Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods after a period to which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b).

Loss Limitation. Losses allocated pursuant to Section 6.1(a5.02(a) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative Capital Account balance at the end of any Fiscal Year fiscal year or other relevant period (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)). In the event some but not all of the Members would have negative Capital Account balances as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof5.02(a), the limitation set forth in this Section 6.1(b5.02(b) shall be applied on a Member by Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to such Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods fiscal years or other relevant period after a any period to in which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b).5.02

Loss Limitation. Net Losses and deductions allocated pursuant to Section 6.1(a4.2 and Section 4.3(h) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative an Adjusted Capital Account balance Deficit at the end of any Fiscal Year (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6))Allocation Year. In the event some but not all of the Members would have negative Adjusted Capital Account balances Deficits as a consequence of an allocation of Net Losses or deductions pursuant to Section 6.1(a4.2 or Section 4.3(h) hereof, the limitation set forth in this Section 6.1(b) 4.5 shall be applied on a Member by Member basis and Net Losses or deductions not 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 (as adjusted in accordance with the definition "Adjusted Capital Account Deficit") so as to allocate the maximum permissible Net Losses and deductions to such each Member under Regulations Section 1.704-1(b)(2)(ii)(d). Allocations ) of Profit and Loss for the periods after a period to which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b)Regulations.

Loss Limitation. Losses allocated pursuant to Section 6.1(a5.02(a) hereof shall not exceed the maximum amount of Losses that can be allocated without causing any Member to have a negative Capital Account balance at the end of any Fiscal Year fiscal year or other relevant period (after taking into account the adjustments, allocations and distributions described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)). In the event some but not all of the Members would have negative Capital Account balances as a consequence of an allocation of Losses pursuant to Section 6.1(a) hereof5.02(a), the limitation set forth in this Section 6.1(b5.02(b) shall be applied on a Member by Member basis and Losses not allocable to any Member as a result of such limitation shall be allocated to other Members in accordance with the positive balances in such Member’s Capital Accounts so as to allocate the maximum permissible Losses to such Member under Regulations Section 1.704-1.704- 1(b)(2)(ii)(d). Allocations of Profit and Loss for the periods fiscal years or other relevant period after a any period to in which this Section 6.1(b) applies shall be made in a way that, to the extent possible, reverses the effects of any limitations on allocations of Losses pursuant to this Section 6.1(b).5.02