Special Allocation. (a) After giving effect to the allocations provided for in Section 4.02 hereof, items of gross income or gain shall be specially allocated for each Fiscal Year to the Members in proportion to and to the extent of the excess of (A) the cumulative amounts distributed to each Member pursuant to Sections 5.01(a), (c), and (d) for the current and all prior Fiscal Years, over (B) the cumulative amounts allocated to each Members pursuant to this Section 4.03(a) for all prior Fiscal Years; and (b) Appropriate adjustments shall be made to the allocations provided for in Section 4.01 hereof if a Cash Flow Bonus Forfeiture Event has existed at any time during the life of the Company, or if the Percentage Interests of the Members change pursuant to Section 3.03(c).
Appears in 4 contracts
Samples: Operating Agreement (Paladin Realty Income Properties Inc), Operating Agreement (Paladin Realty Income Properties Inc), Operating Agreement (Paladin Realty Income Properties Inc)
Special Allocation. (a) After giving effect to the allocations provided for in Section 4.02 4.03 hereof, items of gross income or gain shall be specially allocated for each Fiscal Year to the Members in proportion to and to the extent of the excess of (A) the cumulative amounts distributed to each Member pursuant to Sections 5.01(a), Section 5.01 (c), and (dincluding the flush paragraph at the end thereof) for the current and all prior Fiscal Years, over (B) the cumulative amounts allocated to each Members pursuant to this Section 4.03(a4.04(a) for all prior Fiscal Years; and
(b) Appropriate adjustments shall be made to the allocations provided for in Section Sections 4.01 and 4.02 hereof if a Cash Flow Bonus Forfeiture Event has existed occurs at any time during the life of the Company, or if the Percentage Interests of the Members change pursuant to Section 3.03(c).
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Paladin Realty Income Properties Inc)
Special Allocation. (a) After giving effect to the allocations provided for in Section 4.02 hereof, items of gross income or gain shall be specially allocated for each Fiscal Year to the Members in proportion to and to the extent of the excess of (A) the cumulative amounts distributed to each Member pursuant to Sections 5.01(a), (c), and (d) Section 5.01 for the current and all prior Fiscal Years, over (B) the cumulative amounts allocated to each Members Member pursuant to this Section 4.03(a) for all prior Fiscal Years; and
(b) Appropriate adjustments shall be made to the allocations provided for in Section 4.01 hereof if a Cash Flow Bonus Forfeiture Event has existed at any time during the life of the Company, or if the Percentage Interests of the Members change pursuant to Section 3.03(c).
Appears in 1 contract
Samples: Operating Agreement (Paladin Realty Income Properties Inc)