Simulated Losses definition

Simulated Losses means, respectively, the simulated gains or simulated losses computed by the Fund with respect to its oil and gas properties pursuant to Section 1.704-1(b)(2)(iv)(k)(2) of the Regulations. In computing such simulated gains or losses, the Manager shall have complete and absolute discretion to make any and all permissible elections.
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Simulated Losses means, respectively, the simulated gains or losses computed by the Company with respect to each Oil and Gas Property pursuant to Treasury regulations section 1.704-1(b)(2)(iv)(k)(2) and by reference to its Simulated Basis.
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Examples of Simulated Losses in a sentence

  • The Losses, Simulated Depletion or Simulated Losses that would, absent the application of the preceding sentence, otherwise be allocated to such Member will be allocated to the other Members in accordance with their relative proportion of Units, subject to the limitations of this Section 6.3(b)(v).

  • The Losses, Simulated Depletion or Simulated Losses that would, absent the application of the preceding sentence, otherwise be allocated to such Partner will be allocated to the other Partners in accordance with their relative proportion of Units, subject to the limitations of this Section 5.3(b)(v).

  • If the allocation of Losses, Simulated Depletion or Simulated Losses to a Member as provided in Section 6.3(a) would create or increase an Adjusted Capital Account Deficit, there will be allocated to such Member only that amount of Losses, Simulated Depletion or Simulated Losses as will not create or increase an Adjusted Capital Account Deficit.

  • If the allocation of Losses, Simulated Depletion or Simulated Losses to a Member as provided in Section 6.3(a) hereof would create or increase an Adjusted Capital Account deficit, there will be allocated to such Member only that amount of Losses, Simulated Depletion or Simulated Losses as will not create or increase an Adjusted Capital Account deficit.

  • If the allocation of Losses, Simulated Depletion or Simulated Losses to a Partner as provided in Section 5.3(a) would create or increase an Adjusted Capital Account deficit, there will be allocated to such Partner only that amount of Losses, Simulated Depletion or Simulated Losses as will not create or increase an Adjusted Capital Account deficit.

  • If the allocation of Losses, Simulated Depletion or Simulated Losses to a Partner as provided in Section 5.3(a) hereof would create or increase an Adjusted Capital Account deficit, there will be allocated to such Partner only that amount of Losses, Simulated Depletion or Simulated Losses as will not create or increase an Adjusted Capital Account deficit.

  • A capital account (a “Capital Account”) shall be established and maintained for each Member to which shall be credited the Capital Contributions made by such Member and such Member’s allocable share of Net Income (and items thereof), and Simulated Gain, and from which shall be deducted distributions to such Member of cash or other property and such Member’s allocable share of Net Loss (and items thereof), Simulated Depletion, and Simulated Losses.