Net Losses definition

Net Losses means, for each fiscal year or other period, an amount equal to the Partnership's taxable income or loss for such year or period determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

Net Losses means, with respect to any Collection Period, the excess, if any, of (i) the aggregate Principal Balance of all Receivables that became Defaulted Receivables during such Collection Period over (ii) the aggregate Liquidation Proceeds received by the Servicer during such Collection Period.

Net Losses means the excess of all expenses of the Company over all income of the Company (including the amount of any losses recognized by the Company on the sale or other disposition of Company property) during a calendar year, all as determined in accordance with the method of accounting utilized by the Company for federal income tax purposes.

Examples of Net Losses in a sentence

• Except as otherwise provided in Appendix B, the Net Profits of the Company for each fiscal year shall be credited, and the Net Losses incurred by the Company during each fiscal year shall be debited, as of the close thereof, to the Capital Accounts of the Members in the proportion equal to their number of Financial Rights in the Company, or as otherwise mutually agreed.

• The allocations contemplated in this Agreement are intended to allocate Net Profits and Net Losses (and items of income, gain, expense, deduction, or loss that are not included in the computation of Net Profits or Net Losses) to the Members in accordance with their economic interests in the Company as set forth in this Agreement while complying with the requirements of Subchapter K of Chapter 1 of Subtitle A of the Code (particularly § 704 thereof) and the Regulations promulgated thereunder.

• The sum of (i) the positive or negative balance of the Member’s Capital Account, (ii) the Member’s proportionate share of accrued, but undistributed, Net Profits or Net Losses through the date of the closing of the books of the Company for such purpose; and (iii) an amount equal to the Member’s proportionate share of the “Fair Market Value” (as determined here and in Section XI.5 below) of the tangible real and personal assets of the Company to the extent not reflected in the Capital Account.

More Definitions of Net Losses

Net Losses means, for each fiscal year, an amount equal to the Company’s taxable income or loss for such fiscal year, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

Net Losses means the income, gain, loss, deductions, and credits of the Company in the aggregate or separately stated, as appropriate, as of the close of each Fiscal Year.

Net Losses mean the taxable income or loss, as the case may be, for a period as determined in accordance with Code Section 703(a) computed with the following adjustments:

Net Losses for any Fiscal Year or other period shall mean, respectively, an amount equal to the Company’s taxable income or loss for such Fiscal Year or other period as determined for federal income tax purposes by the Managing Member, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

Net Losses means the losses and deductions of the Company determined in accordance with accounting principles consistently applied from year to year employed under the method of accounting adopted by the Company and as reported separately or in the aggregate, as appropriate, on the tax return of the Company filed for federal income tax purposes.

Net Losses means the net income and net losses, respectively, of the Company as determined for federal income tax purposes.

Net Losses means for each taxable year of the Company an amount equal to the Company's net taxable income or loss for such year as determined for federal income tax purposes (including separately stated items) in accordance with the accounting method and rules used by the Company and in accordance with Section 703 of the Code with the following adjustments: