Common use of Notwithstanding Sections 6 Clause in Contracts

Notwithstanding Sections 6. 1.A and B of the Agreement, after giving effect to the special allocations set forth in Section 1 of Exhibit C to the Agreement, each year gross income of the Partnership shall be allocated first to the General Partner until the cumulative amount allocated under this Section 8 to the General Partner for the current year and all prior years is equal to the cumulative amount for the current year and all prior years of the sum of (A) the distributions made to the General Partner under Section 3 of this Exhibit I, (B) the portion of the distributions made to the General Partner under Section 5 of this Exhibit I (if any) that exceeds $2,500 per Series D Preferred Partnership Unit and (C) for the year in which a distribution is to be made to the General Partner under Section 4 of this Exhibit I, the portion of the Liquidation Preference payable to the General Partner under Section 4 (if any) that exceeds $2,500 per Series D Preferred Partnership Unit. Any remaining Net Income or Net Loss shall be allocated as set forth in Sections 6.1.A and B of the Agreement.

Appears in 1 contract

Samples: Saul Centers Inc

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Notwithstanding Sections 6. 1.A and B of the Agreement, after giving effect to the special allocations set forth in Section 1 of Exhibit C to the Agreement, each year gross income of the Partnership shall be allocated first to the General Partner until the cumulative amount allocated under this Section 8 to the General Partner for the current year and all prior years is equal to the cumulative amount for the current year and all prior years of the sum of (A) the distributions made to the General Partner under Section 3 of this Exhibit IG, (B) the portion of the distributions made to the General Partner under Section 5 of this Exhibit I G (if any) that exceeds $2,500 per Series D B Preferred Partnership Unit and (C) for the year in which a distribution is to be made to the General Partner under Section 4 of this Exhibit IG, the portion of the Liquidation Preference payable to the General Partner under Section 4 (if any) that exceeds $2,500 per Series D B Preferred Partnership Unit. Any remaining Net Income or Net Loss shall be allocated as set forth in Sections 6.1.A and B of the Agreement.

Appears in 1 contract

Samples: Saul Centers Inc

Notwithstanding Sections 6. 1.A and B of the Agreement, after giving effect to the special allocations set forth in Section 1 of Exhibit C to the Agreement, each year gross income of the Partnership shall be allocated first to the General Partner until the cumulative amount allocated under this Section 8 to the General Partner for the current year and all prior years is equal to the cumulative amount for the current year and all prior years of the sum of (A) the distributions made to the General Partner under Section 3 of this Exhibit IJ, (B) the portion of the distributions made to the General Partner under Section 5 of this Exhibit I J (if any) that exceeds $2,500 per Series D E Preferred Partnership Unit and (C) for the year in which a distribution is to be made to the General Partner under Section 4 of this Exhibit IJ, the portion of the Liquidation Preference payable to the General Partner under Section 4 (if any) that exceeds $2,500 per Series D E Preferred Partnership Unit. Any remaining Net Income or Net Loss shall be allocated as set forth in Sections 6.1.A and B of the Agreement.

Appears in 1 contract

Samples: Saul Centers Inc

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Notwithstanding Sections 6. 1.A and B of the Agreement, after giving effect to the special allocations set forth in Section 1 of Exhibit C to the Agreement, each year gross income of the Partnership shall be allocated first to the General Partner until the cumulative amount allocated under this Section 8 to the General Partner for the current year and all prior years is equal to the cumulative amount for the current year and all prior years of the sum of (A) the distributions made to the General Partner under Section 3 of this Exhibit IH, (B) the portion of the distributions made to the General Partner under Section 5 of this Exhibit I H (if any) that exceeds $2,500 per Series D C Preferred Partnership Unit and (C) for the year in which a distribution is to be made to the General Partner under Section 4 of this Exhibit IH, the portion of the Liquidation Preference payable to the General Partner under Section 4 (if any) that exceeds $2,500 per Series D C Preferred Partnership Unit. Any remaining Net Income or Net Loss shall be allocated as set forth in Sections 6.1.A and B of the Agreement.

Appears in 1 contract

Samples: Saul Centers Inc

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