Common use of Net Loss Clause in Contracts

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 26 contracts

Samples: Limited Partnership Agreement (CNX Midstream Partners LP), Limited Partnership Agreement (CONSOL Coal Resources LP), Limited Partnership Agreement (Phillips 66 Partners Lp)

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Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 25 contracts

Samples: Limited Partnership Agreement (EQM Midstream Partners, LP), Contribution Agreement (American Midstream Partners, LP), Limited Partnership Agreement (American Midstream Partners, LP)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.

Appears in 7 contracts

Samples: Limited Partnership Agreement (Delek Logistics Partners, LP), Sponsor Equity Restructuring Agreement (Andeavor Logistics Lp), Merger Agreement (Western Refining Logistics, LP)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and Unitholders (other than the Series A Preferred Unitholders), Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 6 contracts

Samples: Agreement of Limited Partnership (Shell Midstream Partners, L.P.), Partnership Interests Restructuring Agreement (Shell Midstream Partners, L.P.), Agreement of Limited Partnership (Equitrans Midstream Corp)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d6.1(c), Net Loss Losses for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss Losses for such taxable period shall be allocated among the Partners as follows: (i) First, 100% to the General Partner and the Unitholders, Pro RataPartners in accordance with their respective Percentage Interests; provided, however, that Net Losses Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder Limited Partner to have a deficit balance in its Adjusted Capital Account at the end of such taxable period year (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Genesis Energy Lp), Limited Partnership Agreement (Genesis Energy Lp)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (USD Partners LP), Contribution, Conveyance and Assumption Agreement (USD Partners LP)

Net Loss. After giving effect to the special allocations set forth in Section ‎Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section ‎Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.

Appears in 2 contracts

Samples: Exchange Agreement (Delek Logistics Partners, LP), Exchange Agreement (Delek US Holdings, Inc.)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d6.1(c), Net Loss for each taxable period year (and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period year) shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, Partners in proportion to their respective Percentage Interests provided that Net Losses Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder Limited Partner to have a deficit balance in its Adjusted Capital Account at the end of such taxable period year (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balanceSecond, if any, 100% the balance to the General Partner.

Appears in 2 contracts

Samples: Agreement of Limited Partnership, Limited Partnership Agreement (Dorchester Minerals Lp)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period period) shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses Loss shall not be allocated to a Unitholder pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any such Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Noble Midstream Partners LP), Limited Partnership Agreement (Noble Midstream Partners LP)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Phillips 66 Partners Lp), Partnership Interests Restructuring Agreement (Phillips 66)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d6.01(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i6.01(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 2 contracts

Samples: Agreement of Limited Partnership (CNX Midstream Partners LP), Exchange Agreement (CNX Resources Corp)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period period) shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (PBF Logistics LP), Limited Partnership Agreement (New Source Energy Partners L.P.)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.;

Appears in 2 contracts

Samples: Limited Partnership Agreement (USA Compression Partners, LP), Limited Partnership Agreement (NGL Energy Partners LP)

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Net Loss. After giving effect to the special allocations set forth in Section 6.1(dB1.3(c), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, 100% to the General Partner and the Unitholders, Pro RataRata based on their respective Percentage Interests; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(iB1.3(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (American Energy Capital Partners - Energy Recovery Program, Lp), Agreement of Limited Partnership (American Energy Capital Partners, LP)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items (including a pro rata part of each item of income, gain, loss loss, deduction and deduction Simulated Gain taken into account in computing Net Loss for such taxable period period) shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Samples: Limited Partnership Agreement (New Source Energy Partners L.P.)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Samples: Limited Partnership Agreement

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Active 344679592 Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Samples: Limited Partnership Agreement (American Midstream Partners, LP)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d) and Section 6.1(e), Net Loss for each taxable period and all items of income, gain, loss loss, deduction and deduction Simulated Gain taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Samples: Limited Partnership Agreement (Sanchez Production Partners LP)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Samples: Agreement of Limited Partnership (EQM Midstream Partners, LP)

Net Loss. After giving effect to the special allocations set forth in Section 6.1(d), Net Loss for each taxable period and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, howeverprovided , that Net Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.

Appears in 1 contract

Samples: Limited Partnership Agreement (Andeavor Logistics Lp)

Net Loss. After giving effect to the special allocations set forth in Section Sections 6.1(d)) and (e) and any allocations to other Partnership Interests, Net Loss for each taxable period and all items of income, gain, loss loss, deduction and deduction Simulated Gain taken into account in computing Net Loss for such taxable period shall be allocated as follows: (i) First, to the General Partner and the Unitholdersall Partners, Pro Rata; provided, however, that Net Losses Loss shall not be allocated pursuant to this Section 6.1(b)(i6.1(b) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if anySecond, 100% to the General Partner.

Appears in 1 contract

Samples: Limited Partnership Agreement (Mid-Con Energy Partners, LP)

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