No Excess Deficit. To the extent that any Partner has or would have, as a result of an allocation of Net Loss (or item thereof), an Adjusted Capital Account Deficit, such amount of Net Loss (or item thereof) shall be allocated to the other Partners in accordance with Section 5.1(b), but in a manner which will not produce an Adjusted Capital Account Deficit as to such Partners. To the extent such allocation would result in all Partners having Adjusted Capital Account Deficits, such Net Loss (or item thereof) shall be allocated to the General Partner.
Appears in 14 contracts
Samples: Limited Partnership Agreement (Moody National REIT II, Inc.), Limited Partnership Agreement (Moody National REIT II, Inc.), Limited Partnership Agreement (NorthStar/RXR New York Metro Real Estate, Inc.)
No Excess Deficit. To the extent that any Partner has or would have, as a result of an allocation of Net Loss (or item thereof), an Adjusted Capital Account Deficit, such amount of Net Loss (or item thereof) shall be allocated to the other Partners in accordance with Section 5.1(b)6.01.B, but in a manner which will not produce an Adjusted Capital Account Deficit as to such Partners. To the extent such allocation would result in all Partners having Adjusted Capital Account Deficits, such Net Loss (or item thereof) shall be allocated to the General Partner.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Cb Richard Ellis Realty Trust), Limited Partnership Agreement (Cb Richard Ellis Realty Trust), Limited Partnership Agreement (Cb Richard Ellis Realty Trust)
No Excess Deficit. To Although not considered as likely to occur based upon all of the information now available to the Partners, to the extent that any Partner has or would have, as a result of an allocation of Net Loss (or item thereof), an Adjusted Capital Account Deficit, such amount of Net Loss (or item thereof) shall be allocated to the other Partners in accordance with Section 5.1(b)8.1, but in a manner which will not produce an Adjusted Capital Account Deficit as to such PartnersPartner. To the extent such allocation would result in all Partners having Adjusted Capital Account Deficits, such Net Loss (or item thereof) shall be allocated equally to the General PartnerPartners.
Appears in 1 contract
No Excess Deficit. To the extent that any Partner has or would have, as a result of an allocation of Net Loss (or item thereof), an Adjusted Capital Account Deficit, such amount of Net Loss (or item thereof) shall be allocated to the other Partners in accordance with with
Section 5.1(b), 2.1 but in a manner which will not produce an Adjusted Capital Account Deficit as to such Partners. To the extent such allocation would result in all Partners having Adjusted Capital Account Deficits, such Net Loss (or item thereof) shall be allocated to the General Partner.
Appears in 1 contract
Samples: Limited Partnership Agreement (Berkshire Income Realty Inc)
