ALLOCATION OF LOSSES IN EXCESS OF CAPITAL ACCOUNT Sample Clauses

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ALLOCATION OF LOSSES IN EXCESS OF CAPITAL ACCOUNT. The amount of any Net Loss in excess of any then positive balance in the Capital Account of an Investor, which would be allocable to an Investor but for this Section 8.03, shall be allocated to the Investors that have positive balances in their Capital Accounts in proportion to the respective amounts of such positive balances until all such balances have been reduced to zero, and thereafter solely to the Investment Managers. (a) with respect to any Net Profit or Net Loss allocated to such Investors as a group pursuant to Article 8, such allocation shall be made to the extent possible under the IRC, first to equalize the Capital Account balance per Share of each such Investor, and then in the proportion that the number of Shares held by each such Investor bears to the total number of Shares held by all such Investors.
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ALLOCATION OF LOSSES IN EXCESS OF CAPITAL ACCOUNT. The amount of any Net Loss in excess of any then positive balance in the Capital Account of a Limited Partner, which would be allocable to a Limited Partner but for this Section 8.03, shall be allocated to the Managing General Partners. Thereafter, Net Profit otherwise allocable to that Limited Partner pursuant to Section 8.01 first shall be allocated to the Managing General Partners until an amount of Net Profit equal to such amount of Net Loss previously allocated pursuant to this Section 8.03 has been allocated to the Managing General Partners.
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ALLOCATION OF LOSSES IN EXCESS OF CAPITAL ACCOUNT. The amount of any Net Loss in excess of any then positive balance in the Capital Account of an Investor, which would be allocable to an Investor but for this Section 8.03, shall be allocated to the Investors that have positive balances in their Capital Accounts in proportion to the respective amounts of such positive balances until all such balances have been reduced to zero, and thereafter solely to the Investment Managers. Thereafter, Net Profit in such manner and to such extent as may be necessary so that, after such allocation, the respective balances of the Capital Accounts as nearly as possible will equal the balances that would have been obtained if the amounts allocated pursuant to the preceding sentence instead had been allocated under the provisions of this Article 8 without giving effect to the preceding sentence.
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ALLOCATION OF LOSSES IN EXCESS OF CAPITAL ACCOUNT. No allocation shall be made to a Member to the extent that the allocation causes or increases a deficit balance in the Capital Account of that Member at the end of the taxable year of the Company to which the allocation relates after the Capital Account has been reduced as required by Treasury Regulation Section 1.704-l(b) (2) (ii) (d).
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Related to ALLOCATION OF LOSSES IN EXCESS OF CAPITAL ACCOUNT

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • Allocation of Losses (a) On or prior to each Determination Date, the Master Servicer shall determine the amount of any Realized Loss in respect of each Mortgage Loan that occurred during the immediately preceding calendar month. (b) With respect to any Distribution Date, the principal portion of each Realized Loss (other than any Excess Loss) with respect to a Mortgage Pool shall be allocated in the following order of priority: (i) to the Class B-6 Certificates until the Class Certificate Balance thereof has been reduced to zero; (ii) to the Class B-5 Certificates until the Class Certificate Balance thereof has been reduced to zero; (iii) to the Class B-4 Certificates until the Class Certificate Balance thereof has been reduced to zero; (iv) to the Class B-3 Certificates until the Class Certificate Balance thereof has been reduced to zero; (v) to the Class B-2 Certificates until the Class Certificate Balance thereof has been reduced to zero; (vi) to the Class B-1 Certificates until the Class Certificate Balance thereof has been reduced to zero; (vii) to the Classes of Senior Certificates of the related Certificate Group, pro rata, in accordance with their Class Certificate Balances. (c) With respect to any Distribution Date, the principal portion of any Excess Loss with respect to a Mortgage Pool (other than Excess Bankruptcy Losses attributable to Debt Service Reductions) shall be allocated pro rata to each Class of Certificates of the related Certificate Group based on their respective Class Certificate Balances (in the case of the Senior Certificates) or Apportioned Principal Balances (in the case of the Subordinated Certificates). (d) Any Realized Losses allocated to a Class of Certificates pursuant to Section 4.4(b) or (c) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Principal Balances. Any allocation of Realized Losses pursuant to this paragraph (d) shall be accomplished by reducing the Certificate Principal Balances of the related Certificates on the related Distribution Date in accordance with Section 4.4(e). (e) Realized Losses allocated in accordance with this Section 4.4 shall be allocated on the Distribution Date in the month following the month in which such loss was incurred and, in the case of the principal portion thereof, after giving effect to the distributions made on such Distribution Date. (f) On each Distribution Date, the Master Servicer shall determine the Subordinated Certificate Writedown Amount, if any. Any such Subordinated Certificate Writedown Amount shall effect, without duplication of any other provision in this Section 4.4 that provides for a reduction in the Class Certificate Balance of the Subordinated Certificates, a corresponding reduction in the Class Certificate Balance of the Subordinated Certificates, which reduction shall occur on such Distribution Date after giving effect to distributions made on such Distribution Date. (g) Notwithstanding the foregoing, no such allocation of any Realized Loss shall be made on a Distribution Date to a Class of Certificates to the extent that such allocation would result in the reduction of the aggregate Class Certificate Balances of all the Senior Certificates of a related Certificate Group as of such Distribution Date plus the Apportioned Principal Balances of the Subordinated Certificates of such Certificate Group as of such Distribution Date, after giving effect to all distributions and prior allocations of Realized Losses on such date, to an amount less than the aggregate Stated Principal Balance of the Mortgage Loans in the related Mortgage Pool as of the first day of the month of such Distribution Date, less any Deficient Valuations occurring on or prior to the Bankruptcy Coverage Termination Date (such limitation, the "Loss Allocation Limitation").

  • Transfer of Capital Accounts The original Capital Account established for each substituted Member shall be in the same amount as the Capital Account of the Member (or portion thereof) to which such substituted Member succeeds, at the time such substituted Member is admitted to the Company. The Capital Account of any Member whose interest in the Company shall be increased or decreased by means of the transfer of Shares. Any reference in this Agreement to a Capital Contribution of or distribution to a Member that has succeeded any other Member shall include any Capital Contributions or distributions previously made by or to the former Member on account of its Shares.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Profits and Losses Distributions Until the admission of additional Members, the Original Member shall be entitled to all allocations of LLC profits and losses and to allocations of distributions.