Net Profit From Operations. (a) If any Net Loss has been allocated to the Partners pursuant to Section 4.6.2 or Section 4.6.4, then Net Profit from Operations shall first be allocated to the Partners, in the same proportions as such Net Loss was allocated, until each Partner's Capital Account balance equals what it would have been had there been no such allocation of Net Loss. (b) After any allocation required pursuant to Section 4.6.1(a), Net Profit from Operations shall be allocated among the Partners in accordance with their Partnership Percentages.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Txi Transportation Co), Limited Partnership Agreement (Txi Transportation Co), Limited Partnership Agreement (Txi Transportation Co)
Net Profit From Operations. (a) If any Net Loss has been allocated to the Partners pursuant to Section 4.6.2 or Section 4.6.4, then Net Profit from Operations shall first be allocated to the Partners, in the same proportions as such Net Loss was allocated, until each Partner's ’s Capital Account balance equals what it would have been had there been no such allocation of Net Loss.
(b) After any allocation required pursuant to Section 4.6.1(a), Net Profit from Operations shall be allocated among the Partners in accordance with their Partnership Percentages.
Appears in 2 contracts
Samples: Limited Partnership Agreement (American Materials Transport, Inc.), Limited Partnership Agreement (American Materials Transport, Inc.)
