Net Profits. Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows: a. First to reverse any Net Losses allocated to a Member solely as a result of the application of the limitation of Section 2.1.2(b) to another Member; thereafter b. To the Members, in proportion to the Distributions received by the Members under Section 3 for the Fiscal Year.
Appears in 16 contracts
Samples: Limited Liability Company Agreement (Mission First Capital LLC), Limited Liability Company Agreement (Mission First Capital LLC), Company Agreement (Paradyme Equities, LLC)
Net Profits. Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:
a. First to reverse any Net Losses allocated to a Member solely as a result of the application of the limitation of Section 2.1.2(b) to another Member; thereafter
b. To the Members, in proportion to the Distributions received by the Members under Section 3 for the Fiscal Yeartheir Percentage Interest.
Appears in 16 contracts
Samples: Operating Agreement (Cardone Equity Fund IX, LLC), Operating Agreement (HIS Capital Fund III, LLC), Operating Agreement (Own Our Own Fund I, LLC)
Net Profits. Net Profits (which is in the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:
a. First to reverse any Net Losses allocated to a Member solely as a result of the application of the limitation of Section 2.1.2(b) to another Member; thereafter
b. To the Members, in proportion to the Distributions received by the Members under Section 3 for the Fiscal Year.2.1.2
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 Profits. Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:
a. First to reverse any Net Losses allocated to a Member solely as a result of the application of the limitation of Section 2.1.2(b) to another Member; thereafter
b. To the Members, in proportion to the Distributions received by the Members under Section 3 for the Fiscal Yeartheir Percentage Interest.
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement (Cardone Equity Fund V, LLC), Operating Agreement (Cardone Equity Fund V, LLC)
Net Profits. Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:
a. First to reverse any Net Losses allocated to a Member Limited Partner solely as a result of the application of the limitation of Section 2.1.2(b) to another MemberLimited Partner; thereafter
b. To the MembersLimited Partners, in proportion to the Distributions received by the Members Limited Partners under Section 3 for the Fiscal Year.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Keystone Investors-Urban Node Fund II, LP), Limited Partnership Agreement (Keystone Investors-Urban Node Fund II, LP), Limited Partnership Agreement (Keystone Investors-Urban Node Fund II, LP)
Net Profits. Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:
a. First to reverse any Net Losses allocated to a Member solely as a result of the application of the limitation of Section 2.1.2(b) to another Member; thereafter
b. To the Members, in proportion to the Distributions received by the Members under Section 3 for the Fiscal Year.
Appears in 2 contracts
Samples: Operating Agreement (Holiday Lifestyle Fund I), Operating Agreement (Holiday Lifestyle Fund I)
Net Profits. Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:
a. First to reverse any Net Losses allocated to a Member solely as a result of the application of the limitation of Section 2.1.2(b) to another Member; thereafter
b. To the Members, in proportion to the Distributions received by the Members under Section 3 for the Fiscal Yeartheir Economic Interests.
Appears in 1 contract
Samples: Operating Agreement
Net Profits. Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:
a. First to reverse any Net Losses allocated to a Member solely as a result of the application of the limitation of Section 2.1.2(b) to another Member; thereafter
b. To Xx the Members, in proportion to the Distributions received by the Members under Section 3 for the Fiscal Yeartheir Percentage Interest.
Appears in 1 contract
Net Profits. Net Profits (which is the excess of Profits over Losses) for each Fiscal Year of the Company shall be allocated as follows:
a. First to reverse any Net Losses allocated to a Member solely as a result of the application of the limitation of Section 2.1.2(b) to another Member; thereaftera
b. To the Members, in proportion to the Distributions received by the Members under Section 3 for the Fiscal Year.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Mission First Capital LLC)