Common use of Allocation of Net Income and Net Loss Clause in Contracts

Allocation of Net Income and Net Loss. Except as otherwise provided in this Agreement, Net Income and Net Loss (including individual items of profit, income, gain, loss, credit, deduction and expense) of the Fund will be allocated among the Members in a manner such that the Capital Account balance of each Member, immediately after making that allocation, is, as nearly as possible, equal (proportionately) to the Distributions that would be made to that Member pursuant to Article IX.4 if the Fund was dissolved, its affairs wound up and its assets sold for cash equal to their Fair Market Value, all Fund liabilities were satisfied (limited with respect to each nonrecourse liability to the Fair Market Value of the assets securing that liability), and the net assets of the Fund were distributed in accordance with Article IX.4 to the Members immediately after making that allocation, adjusted for applicable special allocations, computed immediately prior to the hypothetical sale of assets; provided, that, for the avoidance of doubt, the Management Fee (or any other fees specifically attributable to or calculated with respect to each Member by the Administrator, as instructed by the Organizer, or pursuant to the terms hereof) shall be allocated among the Members in accordance with the amount of the Applicable Management Fee (or such other fees) calculated by the Administrator, as instructed by the Organizer, with respect to each Member.