Special Allocation. Notwithstanding the other provisions in this Section (but subject to Section 5.7), in the year of the sale of the last Property, Profit and Loss from all sources (or gross income or gross expense) shall be allocated, to the greatest extent possible, so that the positive Capital Account balance of each Partner shall be equal to the distributions to be made to the Partners.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Lodging Fund REIT III, Inc.), Limited Partnership Agreement (Cottonwood Communities, Inc.), Limited Partnership Agreement (Cottonwood Communities, Inc.)
Special Allocation. Notwithstanding the other provisions in this Section (but subject to Section 5.75.11), in the year of the sale of the last Property, Profit Net Income and Net Loss from all sources (or gross income or gross expense) shall be allocated, to the greatest extent possible, so that the positive Capital Account balance of each Partner shall be equal to the distributions to be made to the Partners.
Appears in 1 contract
Samples: Limited Partnership Agreement (Lodging Fund REIT III, Inc.)
Special Allocation. Notwithstanding the other provisions in this Section (but subject to Section 5.7), in the year of the sale of the last Property, Profit and Loss from all sources (or gross income or gross expense) shall be allocated, to the greatest extent possible, so that the positive Capital Account capital account balance of each Partner shall be equal to the distributions to be made to the Partners.
Appears in 1 contract
Samples: Limited Partnership Agreement (Passco Apartment REIT, Inc.)
