Common use of Net Profits from Capital Transactions Clause in Contracts

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.

Appears in 2 contracts

Samples: LLC Operating Agreement (Ridgewood Energy T Fund LLC), LLC Operating Agreement (Ridgewood Energy S Fund LLC)

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Net Profits from Capital Transactions. Except as otherwise provided in this Section 4.2 and subject to Article 7, 8 and 9 7 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)(iv4.2 (a)(iv) and Section 4.2 (b) (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 Sections 8.2, 8.8 and 8.10 to each of the Shareholders, in the amount of and in a manner consistent with the distributions made pursuant to Section Sections 8.2, 8.8 and 8.10; and (C) Finally, to the extent that distributions of cash is not made pursuant to Section Sections 8.2, 8.8 or 8.10, 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 Sections 8.2, 8.8 or 8.10 if distributions had been made pursuant to Section Sections 8.2, 8.8 or 8.10.

Appears in 1 contract

Samples: LLC Operating Agreement (Ridgewood Energy U Fund LLC)

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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 ShareholdersShareholder, 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 and Section 4.2(b)(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 ShareholdersShareholder, 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 are not made pursuant to Section 8.2, to each of the ShareholdersShareholder, 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.

Appears in 1 contract

Samples: LLC Operating Agreement (Ridgewood Energy v Fund LLC)

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