Profit and Loss Allocations. For purposes of determining Capital Account balances under this Section 3.2, Profit and Loss with respect to any Partnership Accounting Year shall be allocated prior to reducing Capital Accounts by any distributions with respect to such Partnership Accounting Year.
Appears in 6 contracts
Samples: Limited Partnership Agreement (3100 Glendale Joint Venture), Limited Partnership Agreement (3100 Glendale Joint Venture), Limited Partnership Agreement (3100 Glendale Joint Venture)
Profit and Loss Allocations. For purposes of determining Capital Account balances under this Section 3.2, Profit and Loss with respect to any Partnership Company [15] 20 Accounting Year shall be allocated prior to reducing Capital Accounts by any distributions with respect to such Partnership Company Accounting Year.
Appears in 2 contracts
Samples: Operating Agreement (3100 Glendale Joint Venture), Operating Agreement (3100 Glendale Joint Venture)
Profit and Loss Allocations. For Except as expressly provided to the contrary in this Section 3.2, for purposes of determining Capital Account balances under this Section 3.2, (a) Profit and Loss with respect to any Partnership Accounting Year shall be allocated prior to reducing Capital Accounts by any distributions with respect to such Partnership Accounting Year, and (b) Section 3.2 shall be applied before applying Section 3.3.
Appears in 2 contracts
Samples: Partnership Agreement (Mack Cali Realty L P), Limited Partnership Agreement (Mack Cali Realty L P)
Profit and Loss Allocations. For purposes of determining Capital Account balances under this Section 3.2, Profit and Loss with respect to any Partnership Company Accounting Year shall be allocated prior to reducing Capital Accounts by any distributions with respect to such Partnership Company Accounting Year.
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