Net Losses from Operations. Except as otherwise required by Sections 4.6, 4.7, and 4.8, all items of Net Losses from Operations, if any, for each Accounting Period, shall be allocated fifteen percent (15%) to the Manager and eighty-five percent (85%) to the Investors in proportion to their respective Ownership Percentages.
Net Losses from Operations. Except as otherwise provided in this Section 4.2 and subject to Article 7, 8 and 9 hereof, Net Losses from Operations shall be allocated 85% to the Investors, pro rata, and 15% to the Manager.
Net Losses from Operations. Net Losses resulting f rom the operations of the Partnership (as distinguished from an Extraordinary Event) for each fiscal year (or part thereof) shall be allocated at the end of such fiscal year (or part thereof) to the Partners in proportion to their respective Percentage Interests.
Net Losses from Operations. For each taxable year of the Partnership, the sum of (a) all Items of Partnership Deduction and Loss Required to be Separately Stated, and (b) the excess, if any, of (i) Partnership losses (including for tax purposes all items of Partnership deduction and loss other than Items of Partnership Deduction and Loss Required to be Separately Stated) over (ii) all Partnership profits (including for tax purposes all items of Partnership income and gain other than Items of Partnership Income and Gain Required to be Separately Stated).
Net Losses from Operations. Any net losses with respect to a particular Facility, other than net losses resulting from a sale or other disposition of such Facility, as determined on a quarterly basis, shall be allocated (i) first, to the extent that net profits have been allocated pursuant to Section 3.15(c)(iv) hereof in proportion to the parties' respective Percentage Interests for any prior fiscal quarter and such net profits have not been distributed by the Project Entity to the members or already reversed out pursuant to Section 3.15(b)(i) hereof or this Section 3.15(a)(i), net losses shall be allocated to offset such undistributed net profits pro rata among the members in proportion to their shares of the retained net profits being offset (and thereafter such allocations of retained profits, to the extent offset pursuant to this Section 3.15(a)(i), shall be disregarded for purposes of computing subsequent allocations pursuant to this Section 3.15); (ii) second, one percent (1%) to ALS and ninety-nine percent (99%) to ALE until ALE's Capital Account is a negative number that is equal to ALE's limited Capital Account restoration obligation as set forth in clause (b) of the second to last sentence of Section 3.21 hereof (the "ALE Restoration Amount"); (iii) third, one hundred percent (100%) to ALS until its Capital Account is a positive number that is equal to the ALE Restoration Amount; and (iv) lastly, in proportion to the parties' then respective Percentage Interests (provided, however, that any such net loss to be allocated pursuant to this clause (iv) that is attributable to Partner Nonrecourse Debt (as such term is defined in Section 1.704-2(b)(4) of the Treasury Regulations (herein, "Regulations") promulgated under the Internal Revenue Code of 1986, as amended (the "Code")) shall be allocated to the member that bears the economic risk of loss pursuant to Section 1.752-2(b)-(j) of the Regulations for such Partner Nonrecourse Debt and, if more than one member bears such economic risk of loss, such Partner Nonrecourse Deductions shall be allocated among the members in accordance with the ratios in which they share such economic risk of loss). Nonrecourse Deductions (as such term is defined in Section 1.704-2(b)(1) of the Regulations) shall be allocated to ALS and ALE in proportion to their Percentage Interests.
