Allocation Shortfall definition

Allocation Shortfall has the meaning set forth in Section 2.4(b).
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Allocation Shortfall shall have the meaning set forth in Section 3.6.
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Allocation Shortfall shall exist with respect to any Fiscal Year if: (i) the Profits of the Partnership for such Fiscal Year are not sufficient to (A) make the full amount of the allocations specified in Sections 4.1(b) through 4.1(e) with respect to such Fiscal Year, and (B) cure any Allocation Shortfall with respect to any prior Fiscal Year; or (ii) the Partnership fails to deliver to the Limited Partner the financial statements for such Fiscal Year and Accountant's opinion with respect thereto provided for in Section 6.5(a)(i) and 6.5(a)(ii) within four (4) months after the end of such Fiscal Year or, if an Allocation Shortfall shall have occurred with respect to either of the two (2) Fiscal Years immediately preceding such Fiscal Year or the Partnership shall have failed to make timely delivery to the Limited Partner in accordance with Section 3.7 the Compliance Certificate (as defined in Section 3.7) for each Fiscal Quarter in such Fiscal Year, the Partnership fails to deliver to the Limited Partner unaudited financial statements, prepared in accordance with GAAP, for such Fiscal Year of the type described in Section 6.5(a)(i) and Section 6.5(a)(ii) within twenty-one (21) days after the end of such Fiscal Year and the audited financial statements for such Fiscal Year provided for in Section 6.5(a)(i) and 6.5(a)(ii) within two (2) months after the end of such Fiscal Year; or (iii) any event that is deemed to be an Allocation Shortfall pursuant to Section 3.6(b) occurs. The existence of an Allocation Shortfall is subject to Section 3.6(b) below.
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Examples of Allocation Shortfall in a sentence

  • In the event that the Company’s gross income and gain for the fiscal year exceeds the aggregate Allocation Shortfall of all holders of Company Units, prior to any allocation of capital gain, there shall first be allocated items of ordinary gross income.

  • In the event that the aggregate Allocation Shortfalls of all Members exceeds the Company’s gross income and gain for the fiscal year, there shall be allocated to each Member an amount of gross income and gain equal to the product of (i) the amount of the Company’s gross income and gain and (ii) a fraction, the numerator of which is the amount of such Member’s Allocation Shortfall and the denominator of which is the aggregate amount of Allocation Shortfalls for all Members.


More Definitions of Allocation Shortfall

Allocation Shortfall has the meaning set forth in Section 2.4(b). Section 1.4 “Agreement” has the meaning set forth in the preamble.
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Related to Allocation Shortfall

  • Accumulation Shortfall shall initially mean zero and shall thereafter mean, with respect to any Monthly Period during the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Monthly Period over the amount deposited into the Principal Funding Account pursuant to subsection 4.9(c)(i) with respect to the Certificates for the previous Monthly Period.

  • Substitution Shortfall Amount As defined in Section 2.03(d).

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Available Funds Shortfall As defined in Section 3.03(b)(ii)(A).

  • Finance Charge Shortfall shall have the meaning specified in Section 4.09.

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Curtailment Shortfall For any Distribution Date and for any Curtailment received in the Prior Period, an amount equal to one month’s interest on such Curtailment at the Pass-Through Rate for the applicable Mortgage Loan.

  • Principal Shortfall For any Distribution Date, the amount, if any, by which (i) the Principal Distribution Amount for the preceding Distribution Date exceeds (ii) the aggregate amount actually distributed with respect to principal on the Non-Vertically Retained Principal Balance Certificates on such preceding Distribution Date in respect of such Principal Distribution Amount.

  • Working Capital Shortfall means the amount by which the Anticipated Working Capital Amount exceeds Minimum Net Operating Working Capital.

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).

  • Series Principal Shortfall means with respect to any Transfer Date, the excess, if any, of (a) (i) with respect to any Transfer Date relating to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date, and (ii) with respect to any Transfer Date during the Rapid Amortization Period, the Adjusted Investor Interest over (b) the Investor Principal Collections minus the Reallocated Principal Collections for such Transfer Date.

  • Daily Principal Shortfall means, on any date of determination, the excess of the Monthly Principal Payment for the Monthly Period relating to such date over the month to date amount of Collections processed in respect of Principal Receivables for such Monthly Period allocable to investor certificates of all outstanding Series, not subject to reallocation, which are on deposit or to be deposited in the Principal Account on such date.

  • Class A Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class A Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed or allocated to the class A noteholders or deposited into the accumulation account on that distribution date.

  • Net Interest Shortfall With respect to any Distribution Date, the Interest Shortfall, if any, for such Distribution Date net of Compensating Interest Payments made with respect to such Distribution Date.

  • Principal Shortfalls shall have the meaning specified in Section 4.04.

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).

  • Class B Note Principal Shortfall means, as of the close of any distribution date, the excess of: • the Class B Noteholders’ Principal Distribution Amount on that distribution date, over • the amount of principal actually distributed to the class B noteholders on that distribution date.