Allocation Limitations Clause Samples

The Allocation Limitations clause sets boundaries on the extent to which certain resources, liabilities, or responsibilities can be distributed between the parties in an agreement. Typically, this clause specifies maximum amounts, timeframes, or specific conditions under which allocations are permitted, such as capping financial liability or restricting the use of shared resources. Its core practical function is to prevent excessive or unfair distribution of obligations or benefits, thereby managing risk and ensuring predictability for all parties involved.
Allocation Limitations. Notwithstanding Section 6.02, special allocations of income and gain or specific items of income or gain may be specially allocated for any Fiscal Year (or other period) as follows:
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Allocation Limitations. Specified Account Funds, Spread Account Funds and Holding Account Deposited Funds, pursuant to Section 2.03(d) of the MCA Agreement, may be invested under Reinvestment Contracts with the Bank and WFAL2 only in accordance with the following; aggregate limitations (in addition to any limitations set forth in Reinvestment Contracts or other wise under Reinvestment Contracts): Bank WFAL2 ---- ----- Specified Account No Limit Up to 25% of the amount of funds on Invested Funds deposit in each Specified Account for such Series Spread Account No Limit No Limit Invested Funds Holding Account No Limit 0 Deposited Funds Capitalized terms not otherwise defined in this Schedule A shall have the meanings specified in the MCA Agreement to which this Schedule A is annexed. SCHEDULE B MONTHLY COLLATERAL STATEMENT This certificate is given by the undersigned pursuant to the requirements of Section 3.02(b) of the Fourth Amended and Restated Master Collateral Assignment Agreement dated as of September 1, 2002, among Western Financial Bank (the "Bank"), WFS Financial Auto Loans, Inc. ("WFAL"), WFS Financial Auto Loans 2, Inc. ("WFAL2"), WFS Receivables Corporation, WFS Receivables Corporation 2, Western Funding, Inc., Financial Security Assurance Inc., Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), as Trustee and Collateral Agent, and Deutsche Bank National Trust Company (formerly known as Bankers Trust Company of California, N.A.), as Master Collateral Agent (the "MCA Agreement"). All capitalized terms used herein have the definitions given for them in the MCA Agreement. The undersigned hereby certifies that the following information is a full, complete and accurate statement as to (1) the Aggregate Commingled Account and (ii) the Aggregate Collateral Value as of ______________.
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Allocation Limitations. If the Employer maintains or has ever maintained another qualified plan (other than this Plan and the Prototype Profit Sharing Plan #001), in which any Participant in this Plan is (or was) a participant or could become a participant, this Section IX must be completed. The Employer must also complete this Section IX if it maintains a welfare benefit fund, as defined in Section 419(e) of the Code, or an individual medical account, as defined in Section 415(l)(2) of the Code, under which amounts are treated as annual additions with respect to any Participant in this Plan. IF YOU MAINTAIN SUCH OTHER PLAN(S), FAILURE TO COMPLETE THIS SECTION IX MAY ADVERSELY EFFECT THE QUALIFICATION OF THE PLANS YOU MAINTAIN. A. If a Participant is covered under another qualified defined contribution plan maintained by the Employer, other than a master or prototype plan (choose either 1 or 2): 1. The provisions of Section 13.2 of the Plan will apply as if the other plan were a master or prototype plan. 2. (On an attachment, provide the method under which the plans will limit total annual additions to the maximum permissible amount, and will properly reduce any excess amounts, in a manner that precludes Employer discretion.) B. If a Participant is or has ever been a participant in a defined benefit plan maintained by the Employer (choose either 1 or 2): 1. In any limitation year, the annual additions credited to the Participant under this Plan may not cause the sum of the defined benefit plan fraction and the defined contribution plan fraction to exceed 1.0. If the Employer contributions that otherwise would be allocated to the Participant's Account during such year would cause the 1.0 limitation to be exceeded, the allocation will be reduced so that the sum of the fractions equal 1.0. Any contributions not allocated because of the preceding sentence will be allocated to the remaining Participants under the Plan. If the 1.0 limitation is exceeded, such excess amount will be reduced in accordance with Section 13.1(d) of the Plan. 2. On an attachment, provide the method under which the plan involved will satisfy the 1.0 limitation in a manner that precludes Employer discretion.
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Allocation Limitations. Notwithstanding Section 5.1(c), special allocations of Net Income, Net Loss or specific items of income, gain, loss or deduction may be required for any fiscal year (or other period) as follows:
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Allocation Limitations 
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Related to Allocation Limitations

  • Transaction Limitations Once Your Account is established, You may not make additional deposits prior to the Maturity Date. Maturity Date. Your Account will mature after the term indicated on the accompanying Account Disclosure Rate Supplement.

  • Allocations The profits and losses of the Company shall be allocated to the Members in accordance with their Percentage Interests from time to time.

  • Corrective Allocations In the event of any allocation of Additional Book Basis Derivative Items or any Book-Down Event or any recognition of a Net Termination Loss, the following rules shall apply: (A) In the case of any allocation of Additional Book Basis Derivative Items (other than an allocation of Unrealized Gain or Unrealized Loss under Section 5.5(d) hereof), the General Partner shall allocate additional items of gross income and gain away from the holders of Incentive Distribution Rights to the Unitholders and the General Partner, or additional items of deduction and loss away from the Unitholders and the General Partner to the holders of Incentive Distribution Rights, to the extent that the Additional Book Basis Derivative Items allocated to the Unitholders or the General Partner exceed their Share of Additional Book Basis Derivative Items. For this purpose, the Unitholders and the General Partner shall be treated as being allocated Additional Book Basis Derivative Items to the extent that such Additional Book Basis Derivative Items have reduced the amount of income that would otherwise have been allocated to the Unitholders or the General Partner under the Partnership Agreement (e.g., Additional Book Basis Derivative Items taken into account in computing cost of goods sold would reduce the amount of book income otherwise available for allocation among the Partners). Any allocation made pursuant to this Section 6.1(d)(xii)(A) shall be made after all of the other Agreed Allocations have been made as if this Section 6.1(d)(xii) were not in this Agreement and, to the extent necessary, shall require the reallocation of items that have been allocated pursuant to such other Agreed Allocations. (B) In the case of any negative adjustments to the Capital Accounts of the Partners resulting from a Book-Down Event or from the recognition of a Net Termination Loss, such negative adjustment (1) shall first be allocated, to the extent of the Aggregate Remaining Net Positive Adjustments, in such a manner, as determined by the General Partner, that to the extent possible the aggregate Capital Accounts of the Partners will equal the amount that would have been the Capital Account balance of the Partners if no prior Book-Up Events had occurred, and (2) any negative adjustment in excess of the Aggregate Remaining Net Positive Adjustments shall be allocated pursuant to Section 6.1(c) hereof. (C) In making the allocations required under this Section 6.1(d)(xii), the General Partner may apply whatever conventions or other methodology it determines will satisfy the purpose of this Section 6.1(d)(xii).

  • Section 704(c) Allocations Notwithstanding Section 6.5.A hereof, Tax Items with respect to Property that is contributed to the Partnership with an initial Gross Asset Value that varies from its basis in the hands of the contributing Partner immediately preceding the date of contribution shall be allocated among the Holders for income tax purposes pursuant to Regulations promulgated under Code Section 704(c) so as to take into account such variation. With respect to Partnership Property that is contributed to the Partnership in connection with the General Partner’s initial public offering, such variation between basis and initial Gross Asset Value shall be taken into account under the “traditional method” as described in Regulations Section 1.704-3(b). With respect to other Properties, the Partnership shall account for such variation under any method approved under Code Section 704(c) and the applicable Regulations as chosen by the General Partner. In the event that the Gross Asset Value of any Partnership asset is adjusted pursuant to subsection (b) of the definition of “Gross Asset Value” (provided in Article 1 hereof), subsequent allocations of Tax Items with respect to such asset shall take account of the variation, if any, between the adjusted basis of such asset and its Gross Asset Value in the same manner as under Code Section 704(c) and the applicable Regulations and using the method chosen by the General Partner; provided, however, that the “traditional method” as described in Regulations Section 1.704-3(b) shall be used with respect to Partnership Property that is contributed to the Partnership in connection with the General Partner’s initial public offering. Allocations pursuant to this Section 6.5.B are solely for purposes of Federal, state and local income 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 Loss, or any other items or distributions pursuant to any provision of this Agreement.

  • Other Allocations Except as otherwise provided in this Agreement, all items of Partnership income, loss, deduction, and any other allocations not otherwise provided for shall be divided among the Unit Holders in the same proportions as they share Profits or Losses, as the case may be, for the year.