Special Allocations. (1) Gross income and, if necessary, gain shall be allocated to the holders of Class G Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Partnership Preferred Units receive a distribution on any Class G Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year. (2) If any Class G Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Partnership Preferred Unit allocable to the Class G Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Partnership Preferred Unit allocable to the Class G Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership Preferred Units so redeemed.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Apartment Investment & Management Co), Limited Partnership Agreement (Aimco Properties Lp), Limited Partnership Agreement (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Series C Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Series C Partnership Preferred Units receive a distribution on any Class G Series C Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Series C Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series C Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Series C Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series C Partnership Preferred Unit allocable to the Class G Series C Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series C Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series C Partnership Preferred Unit allocable to the Class G Series C Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Series C Partnership Preferred Units so redeemed.
Appears in 4 contracts
Samples: Agreement of Limited Partnership (Sovran Self Storage Inc), Agreement of Limited Partnership (Sovran Acquisition LTD Partnership), Amendment to Limited Partnership Agreement (Home Properties of New York Inc)
Special Allocations. (1) Gross income and, if necessary, gain shall be allocated to the holders of Class G C Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G C Partnership Preferred Units receive a distribution on any Class G C Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2) If any Class G C Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G C Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G C Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G C Partnership Preferred Unit allocable to the Class G C Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G C Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G C Partnership Preferred Unit allocable to the Class G C Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G C Partnership Preferred Units so redeemed.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Aimco Properties Lp), Limited Partnership Agreement (Apartment Investment & Management Co), Limited Partnership Agreement (Aimco Properties Lp)
Special Allocations. (1) Gross income and, if necessary, gain shall be allocated to the holders of Class G E Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G E Partnership Preferred Units receive a distribution on any Class G E Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2) If any Class G E Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G E Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G E Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G E Partnership Preferred Unit allocable to the Class G E Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G E Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G E Partnership Preferred Unit allocable to the Class G E Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G E Partnership Preferred Units so redeemed.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Aimco Properties Lp), Limited Partnership Agreement (Aimco Properties Lp), Limited Partnership Agreement (Apartment Investment & Management Co)
Special Allocations. (1) Gross income and, if necessary, gain shall be allocated to the holders of Class G D Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G D Partnership Preferred Units receive a distribution on any Class G D Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2) If any Class G D Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G D Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G D Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G D Partnership Preferred Unit allocable to the Class G D Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G D Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G D Partnership Preferred Unit allocable to the Class G D Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G D Partnership Preferred Units so redeemed.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Aimco Properties Lp), Limited Partnership Agreement (Apartment Investment & Management Co), Limited Partnership Agreement (Aimco Properties Lp)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders General Partner as holder of Class G Partnership A OP Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders General Partner as holder of Class G Partnership A OP Preferred Units receive a distribution distributions on any Class G Partnership A OP Preferred Units (other than an amount included in any redemption pursuant to Section Sections 4 or 5 hereof) with respect to such Fiscal Year (including distributions received after the end of such Fiscal Year but are made with respect to such Fiscal Year).
(2b) If any Class G Partnership A OP Preferred Units are redeemed pursuant to Section Sections 4 or 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders General Partner as holder of Class G Partnership A OP Preferred Units to the extent that the redemption amounts paid or payable with respect to the such Class G Partnership A OP Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Partnership Preferred Unit Account balance allocable to the Class G Partnership A OP Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders General Partner as holder of Class G Partnership A OP Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Partnership Preferred Unit Account balance allocable to the Class G Partnership A OP Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership A OP Preferred Units so redeemed. The Capital Account balance of the General Partner as holder of Class A OP Preferred Units shall be determined solely with respect to Class A OP Preferred Units immediately prior to the redemption and after taking into account all other allocations of Net Income and Net Loss and distributions.
Appears in 3 contracts
Samples: Agreement of Limited Partnership (Kramont Realty Trust), Merger Agreement (Kranzco Realty Trust), Merger Agreement (Cv Reit Inc)
Special Allocations. (1) 8.1 Gross income and, if necessary, gain shall be allocated to the holders holder of Class G Partnership Series 2017 Preferred Units for any Fiscal Year fiscal year (and, if necessary, subsequent Fiscal Yearsfiscal years) to the extent that the holders holder of Class G Partnership Series 2017 Preferred Units receive receives a distribution on any Class G Partnership Series 2017 Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Yearfor a return of its original Capital Contributions).
(2) 8.2 If any Class G Partnership Series 2017 Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year fiscal year that includes such redemption (and, if necessary, for subsequent Fiscal Yearsfiscal years) (ai) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2017 Preferred Units to the extent that the redemption amounts amount paid or payable with respect to the Class G Partnership Series 2017 Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2017 Preferred Unit allocable to the Class G Partnership Series 2017 Preferred Units so redeemed and (bii) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2017 Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2017 Preferred Unit allocable to the Class G Partnership Series 2017 Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership Series 2017 Preferred Units so redeemed. The intent of this Section is that gain or loss shall be allocated so that the ending Capital Account of a holder of Series 2017 Preferred Units is equal to zero after a redemption.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Cottonwood Communities, Inc.), Limited Partnership Agreement (Cottonwood Communities, Inc.)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G A Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G A Partnership Preferred Units receive a distribution on any Class G A Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G A Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G A Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G A Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G A Partnership Preferred Unit allocable to the Class G A Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G A Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G A Partnership Preferred Unit allocable to the Class G A Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G A Partnership Preferred Units so redeemed.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Aimco Properties L.P.), Fourth Amended and Restated Agreement of Limited Partnership (Aimco Properties L.P.)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Series D Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Series D Partnership Preferred Units receive a distribution on any Class G Series D Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Series D Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its reasonable discretion shall determine) shall be allocated to the holders of Class G Series D Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Series D Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series D Partnership Preferred Unit allocable to the Class G Series D Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its reasonable discretion shall determine) shall be allocated to the holders of Class G Series D Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series D Partnership Preferred Unit allocable to the Class G Series D Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Series D Partnership Preferred Units so redeemed.
Appears in 2 contracts
Samples: Amendment No. 35 to the Second Amended and Restated Agreement of Limited Partnership (Home Properties of New York Inc), Amendment No. 35 to the Second Amended and Restated Agreement of Limited Partnership (Home Properties of New York Inc)
Special Allocations. (1) 8.1 Gross income and, if necessary, gain shall be allocated to the holders holder of Class G Partnership Series 2019 Preferred Units for any Fiscal Year fiscal year (and, if necessary, subsequent Fiscal Yearsfiscal years) to the extent that the holders holder of Class G Partnership Series 2019 Preferred Units receive receives a distribution on any Class G Partnership Series 2019 Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Yearfor a return of its original Capital Contributions).
(2) 8.2 If any Class G Partnership Series 2019 Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year fiscal year that includes such redemption (and, if necessary, for subsequent Fiscal Yearsfiscal years) (ai) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2019 Preferred Units to the extent that the redemption amounts amount paid or payable with respect to the Class G Partnership Series 2019 Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2019 Preferred Unit allocable to the Class G Partnership Series 2019 Preferred Units so redeemed and (bii) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2019 Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2019 Preferred Unit allocable to the Class G Partnership Series 2019 Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership Series 2019 Preferred Units so redeemed. The intent of this Section is that gain or loss shall be allocated so that the ending Capital Account of a holder of Series 2019 Preferred Units is equal to zero after a redemption.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Cottonwood Communities, Inc.), Limited Partnership Agreement (Cottonwood Communities, Inc.)
Special Allocations. (1) 8.1 Gross income and, if necessary, gain shall be allocated to the holders holder of Class G Partnership Series 2016 Preferred Units for any Fiscal Year fiscal year (and, if necessary, subsequent Fiscal Yearsfiscal years) to the extent that the holders holder of Class G Partnership Series 2016 Preferred Units receive receives a distribution on any Class G Partnership Series 2016 Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Yearfor a return of its original Capital Contributions).
(2) 8.2 If any Class G Partnership Series 2016 Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year fiscal year that includes such redemption (and, if necessary, for subsequent Fiscal Yearsfiscal years) (ai) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2016 Preferred Units to the extent that the redemption amounts amount paid or payable with respect to the Class G Partnership Series 2016 Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2016 Preferred Unit allocable to the Class G Partnership Series 2016 Preferred Units so redeemed and (bii) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2016 Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2016 Preferred Unit allocable to the Class G Partnership Series 2016 Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership Series 2016 Preferred Units so redeemed. The intent of this Section is that gain or loss shall be allocated so that the ending Capital Account of a holder of Series 2016 Preferred Units is equal to zero after a redemption.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Cottonwood Communities, Inc.), Limited Partnership Agreement (Cottonwood Communities, Inc.)
Special Allocations. (1) Gross income and, if necessary, gain shall be allocated to the holders of Class G H Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G H Partnership Preferred Units receive a distribution on any Class G H Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2) If any Class G H Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G H Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G H Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G H Partnership Preferred Unit allocable to the Class G H Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G H Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G H Partnership Preferred Unit allocable to the Class G H Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G H Partnership Preferred Units so redeemed.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Aimco Properties Lp), Limited Partnership Agreement (Aimco Properties Lp)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Q Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Q Partnership Preferred Units receive a distribution on any Class G Q Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Q Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Q Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Q Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Q Partnership Preferred Unit allocable to the Class G Q Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Q Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Q Partnership Preferred Unit allocable to the Class G Q Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Q Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1) 8.1 Gross income and, if necessary, gain shall be allocated to the holders holder of Class G Partnership Series 2016 Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders holder of Class G Partnership Series 2016 Preferred Units receive receives a distribution on any Class G Partnership Series 2016 Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Yearfor a return of its original Capital Contributions).
(2) 8.2 If any Class G Partnership Series 2016 Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2016 Preferred Units to the extent that the redemption amounts amount paid or payable with respect to the Class G Partnership Series 2016 Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2016 Preferred Unit allocable to the Class G Partnership Series 2016 Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2016 Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2016 Preferred Unit allocable to the Class G Partnership Series 2016 Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership Series 2016 Preferred Units so redeemed. The intent of this Section is that gain or loss shall be allocated so that the ending Capital Account of a holder of Series 2016 Preferred Units is equal to zero after a redemption.
Appears in 1 contract
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G P Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G P Partnership Preferred Units receive a distribution on any Class G P Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G P Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G P Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G P Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G P Partnership Preferred Unit allocable to the Class G P Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G P Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G P Partnership Preferred Unit allocable to the Class G P Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G P Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Series A Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Series A Partnership Preferred Units receive a distribution on any Class G Series A Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Series A Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series A Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Series A Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series A Partnership Preferred Unit allocable to the Class G Series A Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series A Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series A Partnership Preferred Unit allocable to the Class G Series A Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Series A Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Agreement of Limited Partnership (American Land Lease Inc)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G C Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G C Partnership Preferred Units receive a distribution on any Class G C Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G C Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G C Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G C Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G C Partnership Preferred Unit allocable to the Class G C Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G C Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G C Partnership Preferred Unit allocable to the Class G C Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G C Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Second Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders General Partner as holder of Class G Partnership B-1 OP Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders General Partner as holder of Class G Partnership B-1 OP Preferred Units receive a distribution distributions on any Class G Partnership B-1 OP Preferred Units (other than an amount included in any redemption pursuant to Section Sections 4 or 5 hereof) with respect to such Fiscal Year (including distributions received after the end of such Fiscal Year but which are made with respect to such Fiscal Year).
(2b) If any Class G Partnership B-1 OP Preferred Units are redeemed pursuant to Section Sections 4 or 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders General Partner as holder of Class G Partnership B-1 OP Preferred Units to the extent that the redemption amounts paid or payable with respect to the such Class G Partnership B-1 OP Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Partnership Preferred Unit Account balance allocable to the Class G Partnership B-1 OP Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders General Partner as holder of Class G Partnership B-1 OP Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Partnership Preferred Unit Account balance allocable to the Class G Partnership B-1 OP Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership B-1 OP Preferred Units so redeemed. The Capital Account balance of the General Partner as holder of Class B-1 OP Preferred Units shall be determined solely with respect to Class B-1 OP Preferred Units immediately prior to the redemption and after taking into account all other allocations of Net Income and Net Loss and distributions.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Kramont Realty Trust)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders General Partner as holder of Class G Partnership D OP Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders General Partner as holder of Class G Partnership D OP Preferred Units receive a distribution distributions on any Class G Partnership D OP Preferred Units (other than an amount included in any redemption pursuant to Section Sections 4 or 5 hereof) with respect to such Fiscal Year (including distributions received after the end of such Fiscal Year but are made with respect to such Fiscal Year).
(2b) If any Class G Partnership D OP Preferred Units are redeemed pursuant to Section Sections 4 or 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders General Partner as holder of Class G Partnership D OP Preferred Units to the extent that the redemption amounts paid or payable with respect to the such Class G Partnership D OP Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Partnership Preferred Unit Account balance allocable to the Class G Partnership D OP Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders General Partner as holder of Class G Partnership D OP Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Partnership Preferred Unit Account balance allocable to the Class G Partnership D OP Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership D OP Preferred Units so redeemed. The Capital Account balance of the General Partner as holder of Class D OP Preferred Units shall be determined solely with respect to Class D OP Preferred Units immediately prior to the redemption and after taking into account all other allocations of Net Income and Net Loss and distributions.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Kramont Realty Trust)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G S Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G S Partnership Preferred Units receive a distribution on any Class G S Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G S Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G S Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G S Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G S Partnership Preferred Unit allocable to the Class G S Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G S Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G S Partnership Preferred Unit allocable to the Class G S Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G S Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1) 9.1 Gross income and, if necessary, gain shall be allocated to the holders holder of Class G Partnership Series A Convertible Preferred Units for any Fiscal Year fiscal year (and, if necessary, subsequent Fiscal Yearsfiscal years) to the extent that the holders holder of Class G Partnership Series A Convertible Preferred Units receive receives a distribution on any Class G Partnership Series A Convertible Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Yearfor a return of its original Capital Contributions).
(2) 9.2 If any Class G Partnership Series A Convertible Preferred Units are redeemed pursuant to Section 5 hereof6, for the Fiscal Year fiscal year that includes such redemption (and, if necessary, for subsequent Fiscal Years) fiscal years), (ai) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series A Convertible Preferred Units to the extent that the redemption amounts amount paid or payable with respect to the Class G Partnership Series A Convertible Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series A Convertible Preferred Unit allocable to the Class G Partnership Series A Convertible Preferred Units so redeemed and (bii) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series A Convertible Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series A Convertible Preferred Unit allocable to the Class G Partnership Series A Convertible Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership Series A Convertible Preferred Units so redeemed. The intent of this Section is that gain or loss shall be allocated so that the ending Capital Account of a holder of Series A Convertible Preferred Units is equal to zero after a redemption.
9.3 If any Series A Convertible Preferred Units are converted pursuant to Section 5, then gross income shall be allocated to the holders of the Series A Convertible Preferred Units that are converted to the extent of any accrued but unpaid distributions payable on the converted Series A Convertible Preferred Units pursuant to Section 3 through the conversion date.
Appears in 1 contract
Samples: Limited Partnership Agreement (Cottonwood Communities, Inc.)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G B Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G B Partnership Preferred Units receive a distribution on any Class G B Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G B Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G B Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G B Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G B Partnership Preferred Unit allocable to the Class G B Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G B Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G B Partnership Preferred Unit allocable to the Class G B Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G B Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Limited Partnership Agreement (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G O Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G O Partnership Preferred Units receive a distribution on any Class G O Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G O Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G O Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G O Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G O Partnership Preferred Unit allocable to the Class G O Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G O Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G O Partnership Preferred Unit allocable to the Class G O Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G O Partnership Preferred Units so redeemed.
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Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Series B Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Series B Partnership Preferred Units receive a distribution on any Class G Series B Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Series B Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series B Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Series B Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series B Partnership Preferred Unit allocable to the Class G Series B Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series B Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series B Partnership Preferred Unit allocable to the Class G Series B Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Series B Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Second Amended and Restated Agreement of Limited Partnership (Home Properties of New York Inc)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Series A CRA Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Series A CRA Partnership Preferred Units receive a distribution on any Class G Series A CRA Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Series A CRA Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series A CRA Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Series A CRA Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series A CRA Partnership Preferred Unit allocable to the Class G Series A CRA Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series A CRA Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series A CRA Partnership Preferred Unit allocable to the Class G Series A CRA Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Series A CRA Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Aimco Properties Lp)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Series F Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Series F Partnership Preferred Units receive a distribution on any Class G Series F Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Series F Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series F Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Series F Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series F Partnership Preferred Unit allocable to the Class G Series F Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series F Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series F Partnership Preferred Unit allocable to the Class G Series F Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Series F Partnership Preferred Units so redeemed.
Appears in 1 contract
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G X Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G X Partnership Preferred Units receive a distribution on any Class G X Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G X Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G X Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G X Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G X Partnership Preferred Unit allocable to the Class G X Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G X Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G X Partnership Preferred Unit allocable to the Class G X Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G X Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Amendment to the Third Amended and Restated Agreement of Limited Partnership (Aimco Properties Lp)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Y Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Y Partnership Preferred Units receive a distribution on any Class G Y Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Y Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Y Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Y Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Y Partnership Preferred Unit allocable to the Class G Y Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Y Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Y Partnership Preferred Unit allocable to the Class G Y Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Y Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Amendment to the Third Amended and Restated Agreement of Limited Partnership (Aimco Properties Lp)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G K Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G K Partnership Preferred Units receive a distribution on any Class G K Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G K Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G K Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G K Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G K Partnership Preferred Unit allocable to the Class G K Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G K Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G K Partnership Preferred Unit allocable to the Class G K Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G K Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Aimco Properties Lp)
Special Allocations. (1) 8.1 Gross income and, if necessary, gain shall be allocated to the holders holder of Class G Partnership Series 2023-A Preferred Units for any Fiscal Year fiscal year (and, if necessary, subsequent Fiscal Yearsfiscal years) to the extent that the holders holder of Class G Partnership Series 2023-A Preferred Units receive receives a distribution on any Class G Partnership Series 2023-A Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Yearfor a return of its original Capital Contributions).
(2) 8.2 If any Class G Partnership Series 2023-A Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year fiscal year that includes such redemption (and, if necessary, for subsequent Fiscal Years) fiscal years), (ai) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2023-A Preferred Units to the extent that the redemption amounts amount paid or payable with respect to the Class G Partnership Series 2023-A Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2023-A Preferred Unit allocable to the Class G Partnership Series 2023-A Preferred Units so redeemed and (bii) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2023-A Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2023-A Preferred Unit allocable to the Class G Partnership Series 2023-A Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership Series 2023-A Preferred Units so redeemed. The intent of this Section is that gain or loss shall be allocated so that the ending Capital Account of a holder of Series 2023-A Preferred Units is equal to zero after a redemption.
Appears in 1 contract
Samples: Limited Partnership Agreement (Cottonwood Communities, Inc.)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G L Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G L Partnership Preferred Units receive a distribution on any Class G L Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G L Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G L Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G L Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G L Partnership Preferred Unit allocable to the Class G L Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G L Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G L Partnership Preferred Unit allocable to the Class G L Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G L Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G W Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G W Partnership Preferred Units receive a distribution on any Class G W Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G W Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G W Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G W Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G W Partnership Preferred Unit allocable to the Class G W Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G W Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G W Partnership Preferred Unit allocable to the Class G W Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G W Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Amendment to the Third Amended and Restated Agreement of Limited Partnership (Aimco Properties Lp)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G M Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G M Partnership Preferred Units receive a distribution on any Class G M Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G M Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G M Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G M Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G M Partnership Preferred Unit allocable to the Class G M Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G M Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G M Partnership Preferred Unit allocable to the Class G M Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G M Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G N Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G N Partnership Preferred Units receive a distribution on any Class G N Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G N Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G N Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G N Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G N Partnership Preferred Unit allocable to the Class G N Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G N Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G N Partnership Preferred Unit allocable to the Class G N Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G N Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Amendment to Limited Partnership Agreement (Aimco Properties Lp)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Series E Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Series E Partnership Preferred Units receive a distribution on any Class G Series E Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Series E Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series E Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Series E Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series E Partnership Preferred Unit allocable to the Class G Series E Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Series E Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Series E Partnership Preferred Unit allocable to the Class G Series E Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Series E Partnership Preferred Units so redeemed.
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Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G J Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G J Partnership Preferred Units receive a distribution on any Class G J Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G J Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G J Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G J Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G J Partnership Preferred Unit allocable to the Class G J Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G J Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G J Partnership Preferred Unit allocable to the Class G J Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G J Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders holder of Class G Series 2019 Preferred Limited Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders holder of Class G Series 2019 Preferred Limited Partnership Preferred Units receive receives a distribution on any Class G Series 2019 Preferred Limited Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Yearfor a return of its original Capital Contributions).
(2b) If any Class G Series 2019 Preferred Limited Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Series 2019 Preferred Limited Partnership Preferred Units to the extent that the redemption amounts amount paid or payable with respect to the Class G Series 2019 Preferred Limited Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Series 2019 Preferred Limited Partnership Preferred Unit allocable to the Class G Series 2019 Preferred Limited Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Series 2019 Preferred Limited Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Series 2019 Preferred Limited Partnership Preferred Unit allocable to the Class G Series 2019 Preferred Limited Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Series 2019 Preferred Limited Partnership Preferred Units so redeemed. The intent of this Section is that gain or loss shall be allocated so that the ending Capital Account of a holder of Series 2019 Preferred Limited Partnership Units is equal to zero after a redemption.
Appears in 1 contract
Samples: Limited Partnership Agreement (Cottonwood Communities, Inc.)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G V Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G V Partnership Preferred Units receive a distribution on any Class G V Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G V Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G V Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G V Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G V Partnership Preferred Unit allocable to the Class G V Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G V Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G V Partnership Preferred Unit allocable to the Class G V Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G V Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Amendment to Limited Partnership Agreement (Aimco Properties Lp)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G Z Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G Z Partnership Preferred Units receive a distribution on any Class G Z Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G Z Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Z Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G Z Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Z Partnership Preferred Unit allocable to the Class G Z Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G Z Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G Z Partnership Preferred Unit allocable to the Class G Z Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Z Partnership Preferred Units so redeemed.
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Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G U Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G U Partnership Preferred Units receive a distribution on any Class G U Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G U Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G U Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G U Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G U Partnership Preferred Unit allocable to the Class G U Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G U Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G U Partnership Preferred Unit allocable to the Class G U Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G U Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G R Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G R Partnership Preferred Units receive a distribution on any Class G R Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G R Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G R Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G R Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G R Partnership Preferred Unit allocable to the Class G R Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G R Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G R Partnership Preferred Unit allocable to the Class G R Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G R Partnership Preferred Units so redeemed.
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Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1) 8.1 Gross income and, if necessary, gain shall be allocated to the holders holder of Class G Partnership Series 2023 Preferred Units for any Fiscal Year fiscal year (and, if necessary, subsequent Fiscal Yearsfiscal years) to the extent that the holders holder of Class G Partnership Series 2023 Preferred Units receive receives a distribution on any Class G Partnership Series 2023 Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Yearfor a return of its original Capital Contributions).
(2) 8.2 If any Class G Partnership Series 2023 Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year fiscal year that includes such redemption (and, if necessary, for subsequent Fiscal Years) fiscal years), (ai) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2023 Preferred Units to the extent that the redemption amounts amount paid or payable with respect to the Class G Partnership Series 2023 Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2023 Preferred Unit allocable to the Class G Partnership Series 2023 Preferred Units so redeemed and (bii) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders holder of Class G Partnership Series 2023 Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) Contribution per Class G Partnership Series 2023 Preferred Unit allocable to the Class G Partnership Series 2023 Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G Partnership Series 2023 Preferred Units so redeemed. The intent of this Section is that gain or loss shall be allocated so that the ending Capital Account of a holder of Series 2023 Preferred Units is equal to zero after a redemption.
Appears in 1 contract
Samples: Limited Partnership Agreement (Cottonwood Communities, Inc.)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G T Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G T Partnership Preferred Units receive a distribution on any Class G T Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G T Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G T Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G T Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G T Partnership Preferred Unit allocable to the Class G T Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G T Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G T Partnership Preferred Unit allocable to the Class G T Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G T Partnership Preferred Units so redeemed.
Appears in 1 contract
Samples: Third Amended and Restated Agreement of Limited Partnership (Apartment Investment & Management Co)
Special Allocations. (1a) Gross income and, if necessary, gain shall be allocated to the holders of Class G D Partnership Preferred Units for any Fiscal Year (and, if necessary, subsequent Fiscal Years) to the extent that the holders of Class G D Partnership Preferred Units receive a distribution on any Class G D Partnership Preferred Units (other than an amount included in any redemption pursuant to Section 5 hereof) with respect to such Fiscal Year.
(2b) If any Class G D Partnership Preferred Units are redeemed pursuant to Section 5 hereof, for the Fiscal Year that includes such redemption (and, if necessary, for subsequent Fiscal Years) (a) gross income and gain (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G D Partnership Preferred Units to the extent that the redemption amounts paid or payable with respect to the Class G D Partnership Preferred Units so redeemed exceeds the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G D Partnership Preferred Unit allocable to the Class G D Partnership Preferred Units so redeemed and (b) deductions and losses (in such relative proportions as the General Partner in its discretion shall determine) shall be allocated to the holders of Class G D Partnership Preferred Units to the extent that the aggregate Capital Contributions (net of liabilities assumed or taken subject to by the Partnership) per Class G D Partnership Preferred Unit allocable to the Class G D Partnership Preferred Units so redeemed exceeds the redemption amount paid or payable with respect to the Class G D Partnership Preferred Units so redeemed.
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