- LOSS CARRYOVER definition
- LOSS CARRYOVER. The Loss Carryover at the end of the first Accounting Period shall be equal to zero (0). The Loss Carryover at the end of each Accounting Period thereafter shall equal the greater of (i) zero (0), or (ii) an amount equal to:
(a) the Cash Balance for the prior Accounting Period as calculated on the applicable Settlement Date, PLUS
(b) the Interest on Cash Balance for that Accounting Period as calculated on the applicable Settlement Date, PLUS
(c) the Total Settlement for that Accounting Period, MINUS
(d) the Target Cash Balance at the end of that Accounting Period.
- LOSS CARRYOVER means for a particular Limited Partner the excess, if any, of the cumulative Losses allocated to that Limited Partner under Section 4.01(a) over the cumulative Profits allocated to that Limited Partner under Section 4.02(b) and (c). For these purposes, Losses allocated to any prior holder of the Interest held by the current Limited Partner shall not be taken into account without the written consent of the General Partner given at the time the General Partner consented to the assignment of the Interest unless the Interest was acquired by bequest or operation of law. In addition, whenever a Limited Partner withdraws a portion of his Capital Account, his Loss Carryover shall be reduced by the percentage that the withdrawn portion of his Capital Account bears to his Capital Account balance immediately prior to the withdrawal.