Net Losses. Net Losses (which the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated: a. To and among the Members pro-rate according to their respective Percentage Interests; however; b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d).
Appears in 8 contracts
Samples: Company Operating Agreement (Gilmore Homes - Gilmore Loans, LLC), Company Operating Agreement (Gilmore Homes - Gilmore Loans, LLC), Company Operating Agreement (Gilmore Homes - Gilmore Loans, LLC)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d1.704‑1(b)(2)(ii)(d).
Appears in 8 contracts
Samples: Operating Agreement (Cardone Equity Fund IX, LLC), Operating Agreement (HIS Capital Fund III, LLC), Operating Agreement (HIS Capital Fund III, LLC)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d).
Appears in 7 contracts
Samples: Limited Liability Company Agreement (Mission First Capital LLC), Operating Agreement, Operating Agreement (Pf Royalty I LLC)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d1.704‑1(b)(2)(ii)(d).. Tulsa Real Estate Fund, LLC C-2 Company Agreement
Appears in 6 contracts
Samples: Company Agreement (Tulsa Real Estate Fund, LLC), Company Agreement (Tulsa Real Estate Fund, LLC), Company Agreement (Tulsa Real Estate Fund, LLC)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d1.704‑1(b)(2)(ii)(d).. Paradyme Equities, LLC C-2 Company Agreement
Appears in 6 contracts
Samples: Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC), Company Agreement (Paradyme Equities, LLC)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d1.704‑1(b)(2)(ii)(d).. Cardone Equity Fund V, LLC C-2 Operating Agreement
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement (Cardone Equity Fund V, LLC), Operating Agreement (Cardone Equity Fund V, LLC)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d1.704‑1(b)(2)(ii)(d).. Cardone Equity Fund VI, LLC C-2 Operating Agreement
Appears in 2 contracts
Samples: Operating Agreement (Cardone Equity Fund VI, LLC), Operating Agreement (Cardone Equity Fund VI, LLC)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; , however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d1.704‑1(b)(2)(ii)(d).
Appears in 2 contracts
Samples: Operating Agreement (Own Our Own Fund I, LLC), Operating Agreement (Own Our Own Fund I, LLC)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1.704 1(b)(2)(ii)(d).
Appears in 2 contracts
Samples: Operating Agreement (Holiday Lifestyle Fund I), Operating Agreement (Holiday Lifestyle Fund I)
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d1.704‑1(b)(2)(ii)(d).. Paradyme Equities, LLC Company Agreement
Appears in 1 contract
Net Losses. Net Losses (which is the excess of Losses over Profits) for each Fiscal Year of the Company shall be allocated:
a. To Xx and among the Members pro-rate rata according to their respective Percentage Interests; however;
b. Net Xxx Losses allocated pursuant to Section 2.1.2(a) hereof shall not exceed the maximum Amount amount of Losses that can be so 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 Net Losses pursuant to Section 2.1.2(a), the limitation set forth in this Section 2.1.2(b) Xxxxxxx Homes Xxxxxxx Loans | 56 Company Operating Agreement shall be applied on a Member by Member basis so as to allocate the maximum permissible Net Losses to each Member under Treasury Regulation section 1.704-1(b)(2)(ii)(d).
Appears in 1 contract
