Loss From Sale definition
Examples of Loss From Sale in a sentence
All Net Loss and/or Net Loss From Sale in excess of the limitation set forth in this Section 4.3(c), shall be allocated among the Partners in accordance with their interests in the Partnership as determined under the Regulations.
Allocations pursuant to this Section 3 are solely for purposes of federal, state and local taxes and shall not affect, or in any way be taken into account in computing, any Partner's Capital Account or share of Net Profits, Net Losses, Gain from Sale, Loss From Sale or distributions pursuant to any provision of this Partnership Agreement.
In the event that some but not all of the Limited Partners would have a deficit in his Capital Account as a consequence of an allocated Net Loss or Net Loss From Sale pursuant to Section 4.3(b), the limitation set forth in this Section 4.3(c) shall be applied on a Limited Partner by Limited Partner basis so as to allocate the maximum permissible losses to each Limited Partner under Section 1.704-1(b)(2)(ii)(d) of the Regulations.
The Net Loss and Net Loss From Sale allocated pursuant to Section 4.3(b) hereof shall not exceed the maximum amount of losses that can be so allocated without causing any Limited Partner to have a deficit in his Capital Account at the end of any Fiscal Year.
If there should be at any time more than one General Partner, any Net Profit or Net Loss, Net Profit From Sale, Net Loss From Sale or any item of income, gain, loss, deduction or credit shall be allocated and each item of cash shall be distributed, between or among the General Partners as a class, pro rata in accordance with the ratio of the percentage interests of the members of such class, as set forth on Exhibit 2.
Net Income and Net Loss From Sale or Exchange will be allocated between the Owner and its assignee as of the date of any such transaction.
Each Partner expressly consents to the methods set forth in this Article IV for determining the allocations and distributions of Net Profit, Net Loss, Net Profit From Sale, Net Loss From Sale and Distributions.
To the extent the Regulatory Allocations are inconsistent with the manner in which the Partners intend to divide distributions, the General Partners are authorized to divide other allocations of Net Profits, Net Losses, Gain From Sale, Loss From Sale and other items among the Partners in any reasonable manner so as to prevent the Regulatory Allocations from distorting the manner in which Partnership distributions would be divided among the Partners but for application of the Regulatory Allocations.
No member of any class of Limited Partners shall have priority over any other member of such class of Limited Partners, either as to the return of Capital Contributions or as to Net Profit, Net Loss, Net Profit From Sale, Net Loss From Sale or Distributions, unless otherwise specifically provided herein.
Allocations pursuant to this Section 4.3(c) are solely for the purposes of federal, state and local taxes and shall not affect, or in any way be taken into account in computing, any Partner's Capital Account or share of Net Income, Net Gain From Sale, Net Loss, Net Loss From Sale or other items, or distributions pursuant to any provision of this Agreement.