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Common use of Offsetting Allocations Clause in Contracts

Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B and 6.2.C, but subject to Sections 6.3 and 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such Partner, the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 19 contracts

Samples: Limited Partnership Agreement (Parking REIT, Inc.), Agreement of Limited Partnership (Parking REIT, Inc.), Merger Agreement (Mobile Infrastructure Corp)

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Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B 6.2.A and 6.2.C6.2.B, but subject to Sections 6.3 and 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such Partner, the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 15 contracts

Samples: Limited Partnership Agreement (Workspace Property Trust), Agreement of Limited Partnership (Wheeler Real Estate Investment Trust, Inc.), Limited Partnership Agreement (Wheeler Real Estate Investment Trust, Inc.)

Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B 6.2.A and 6.2.C6.2.B, but subject to Sections 6.3 and 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such PartnerPartner (including any allocations of Net Income or items thereof pursuant to Section 6.3.A), the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 11 contracts

Samples: Limited Partnership Agreement (Rexford Industrial Realty, Inc.), Agreement of Limited Partnership (Rexford Industrial Realty, Inc.), Limited Partnership Agreement (Rexford Industrial Realty, Inc.)

Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B 6.2.A and 6.2.C6.2.B, but subject to Sections 6.3 and 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such PartnerPartner (including any allocations of Net Income or items thereof pursuant to Section 6.3.A), the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Code Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 6 contracts

Samples: Contribution Agreement (City Office REIT, Inc.), Contribution Agreement (City Office REIT, Inc.), Limited Partnership Agreement (City Office REIT, Inc.)

Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B and 6.2.C, but subject to Sections 6.3 and 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such Partner, the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 4 contracts

Samples: Agreement of Limited Partnership (Younan Properties Inc), Agreement of Limited Partnership (CoreSite Realty Corp), Agreement of Limited Partnership (CoreSite Realty Corp)

Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B 6.2.A and 6.2.C6.2.B, but subject to Sections 6.3 6.3.A and 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such Partner, the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Spirit Realty, L.P.), Limited Partnership Agreement (Spirit Realty Capital, Inc.)

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Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B Section 6.1 and 6.2.CSection 6.2(a), but subject to Sections Section 6.3 and Section 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such PartnerPartner (including any allocations of Net Income or items thereof pursuant to Section 6.3(a)), the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Lineage, Inc.), Limited Partnership Agreement (Lineage, Inc.)

Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B 6.2(a) and 6.2.C6.2(b), but subject to Sections 6.3 and 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such PartnerPartner (including any allocations of Net Income or items thereof pursuant to Section 6.3(a)), the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Orion Office REIT Inc.), Limited Partnership Agreement (Indus Realty Trust, Inc.)

Offsetting Allocations. Notwithstanding the provisions of Sections 6.1, 6.2.B 6.2(a) and 6.2.C6.2(b), but subject to Sections 6.3 and 6.4, in the event Net Income or items thereof are being allocated to a Partner to offset prior Net Loss or items thereof which have been allocated to such PartnerPartner (including any allocations of Net Income or items thereof pursuant to Section 6.3(a)), the General Partner shall attempt to allocate such offsetting Net Income or items thereof which are of the same or similar character (including without limitation Code Section 704(b) book items versus tax items) to the original allocations with respect to such Partner.

Appears in 1 contract

Samples: Agreement of Limited Partnership (NewLake Capital Partners, Inc.)

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