Net Profits from Capital Transactions Sample Clauses

Net Profits from Capital Transactions. Except as otherwise required by Sections 4.6, 4.7, and 4.8, all items of Net Profits from Capital Transactions, if any, for each Accounting Period, shall be allocated to the Members in the following amounts and in the following priorities: 4.3.1. First, to the extent that distributions of Available Cash from Capital Transactions are made pursuant to Section 5.3, in the amount of and in the manner consistent with such distributions; 4.3.2. Second, to the extent that distributions of Available Cash from Capital Transactions are not made pursuant to Section 5.3, in the amount of and in the manner consistent with the distributions which would have been made pursuant to Section 5.3; 4.3.3. Third, to the Investors and the Manager in accordance with the distributions of Available Cash from Capital Transactions to which each would be entitled under Section 5.3 if the amount of such Net Profit from Capital Transactions for such Accounting Period had been distributed as Available Cash from Capital Transactions pursuant to Section 5.3; and 4.3.4. Thereafter, the balance 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 Profits from Capital Transactions. Except as otherwise provided in this Section 4.2 and subject to Article 7, 8 and 9 hereof, Net Profits from Capital Transactions shall be allocated in the following amounts and in the following priorities: (A) First, to each of the Shareholders, in the amount of and in proportion to the excess, if any, of: (i) the aggregate Net Losses allocated to each such Shareholder pursuant to Section 4.2(a)(iv) (in reverse order in which such Net Losses were previously allocated) for the current and all prior Fiscal Years; minus (ii) the aggregate Net Profits from Operations allocated to such Shareholder pursuant to this Section 4.2(a)(iii)(A) for all prior Fiscal Years; (B) Second, to the extent that distributions of cash are made pursuant to Section 8.2, to each of the Shareholders, in the amount of and in a manner consistent with the distributions made pursuant to Section 8.2; and (C) Finally, to the extent that distributions of cash is not made pursuant to Section 8.2, to each of the Shareholders, in the amount of and in a manner consistent with the distributions which would have been made pursuant to Section 8.2 if distributions had been made pursuant to Section 8.2.

Net Profits from Capital Transactions. Subject to Section 5.3, for purposes of maintaining the Capital Accounts of the Members, all Net Profits From Capital Transaction shall be allocated at the end of each calendar year among the Members as follows: (i) First, among all Members having negative balances in their Capital Accounts in proportion to their respective negative balances in their Capital Accounts, up to an amount necessary to bring such Capital Accounts to zero; (ii) Second, to each member of the Perlxxxxxx Xxxup, up to an amount, if any, necessary to bring such member's Capital Account balance up to an amount equal to the sum of its share of the unpaid First Priority Return, plus its share of the unpaid Second Priority Return, plus its share of the unpaid Third Priority Return; (iii) Third, to each Member, up to an amount, if any, necessary to bring its Capital Account balance up to an amount equal to the sum of (A) its Unpaid Preferred Return, plus (B) in the case of each member of the Perlxxxxxx Xxxup, such member's share of the unpaid First Priority Return, plus its share of the unpaid Second Priority Return, plus its share of the unpaid Third Priority Return, and in the case of Glimcher, zero, in proportion to their respective necessary amounts; (iv) Fourth, to each Member, up to an amount, if any, necessary to eliminate such Member's Capital Account Shortfall, in proportion to its respective necessary amounts; and (v) Fifth, the balance, if any, shall be allocated among the Members in accordance with their respective Percentage Interests; PROVIDED, HOWEVER, that if the Members' Capital Account Excesses, if any, are not in the ratio of the Members' respective Percentage Interests, Net Profit From Capital Transactions shall first be allocated to bring the Members' respective Capital Account Excesses into such ratio. For the purposes of this Section 5.2(d), allocations of gain for any year shall be made after the Members' Capital Accounts have been adjusted to reflect any distributions to Members made during such year other than distributions of Capital Proceeds arising out of the transactions which created the gain being allocated under this Section 5.2(d).

Net Profits from Capital Transactions. Any Net Profits of ------------------------------------- the Company with respect to any period arising in connection with a sale of all or substantially all of the Company's assets (including, for this purpose, any adjustments to the Book Value of the Company's assets pursuant to Section 1.1.5(b), above) (a "Capital Transaction"), shall be allocated among the Members in the following order and priority: (a) First, to each of the Members in proportion to and to the extent of the excess of the aggregate amount of Net Losses allocated to such Member pursuant to Section 4.2.2(c), above, over the aggregate amount of Net Profits allocated to such Member pursuant to Section 4.2.1(a), above or pursuant to this Section 4.2.3. (b) Then, to each of the Members in proportion to and to the extent of the excess of (i) the sum of (A) the aggregate Priority Amount (if any) of such Member plus (B) the aggregate amount of Net Losses previously allocated to such Member pursuant to Section 4.2.2(b), above, over (ii) the aggregate amount of Net Profits allocated to such Member pursuant to Section 4.2.1(b), above, or pursuant to this Section 4.2.3(b). (c) Then, to each of the Members in a manner which, to the fullest extent possible, results in a Capital Account balance for each Member (determined without regard to any allocation amounts pursuant to Section 4.2.3(b) or Section 4.2.1(b)) which, as a proportion of the aggregate Capital Account balances of all Members, is equal to such Member's Percentage Interest.]