Common use of Net Loss Clause in Contracts

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 14 contracts

Sources: Limited Partnership Agreement (Sprague Resources LP), Limited Partnership Agreement, Limited Partnership Agreement (Sprague Resources LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.

Appears in 11 contracts

Sources: Limited Partnership Agreement (Oasis Midstream Partners LP), Contribution and Simplification Agreement (Oasis Midstream Partners LP), Contribution and Simplification Agreement (Oasis Petroleum Inc.)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, that Net Loss Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.;

Appears in 9 contracts

Sources: Limited Partnership Agreement (Williams Partners L.P.), Limited Partnership Agreement (Williams Partners L.P.), Limited Partnership Agreement (Williams Partners L.P.)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 6 contracts

Sources: Limited Partnership Agreement, Partnership Interests Exchange Agreement (Western Midstream Partners, LP), Limited Partnership Agreement (Western Midstream Partners, LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, that Net Loss Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 4 contracts

Sources: Agreement of Limited Partnership (Rhino Resource Partners LP), Limited Partnership Agreement (Compressco Partners, L.P.), Limited Partnership Agreement (Rhino Resource Partners LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item and all items of income, gain, loss loss, deduction, and deduction credit taken into account in computing Net Loss for such taxable period) period shall be allocated as follows: (iA) First, to the Unitholders, Pro Rata; provided, that Net Loss Losses shall not be allocated pursuant to this Section 6.1(b)(i6.1(a)(ii)(A) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (iiB) The balance, if any, 100% to the General PartnerManaging Member.

Appears in 3 contracts

Sources: Limited Liability Company Agreement (First Solar, Inc.), Limited Liability Company Agreement (8point3 Energy Partners LP), Master Formation Agreement (Sunpower Corp)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; and provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the Managing General Partner.

Appears in 3 contracts

Sources: Limited Partnership Agreement, Limited Partnership Agreement (Crestwood Equity Partners LP), Limited Partnership Agreement (Inergy L P)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item and all items of income, gain, loss loss, deduction and deduction Simulated Gain taken into account in computing Net Loss for such taxable period) period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, however, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 2 contracts

Sources: Limited Partnership Agreement (LRR Energy, L.P.), Limited Partnership Agreement (LRR Energy, L.P.)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as followsallocated: (i) First, to the Unitholders, Pro RataUnitholders in accordance with their respective Percentage Interests; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100any,100% to the General Partner.

Appears in 2 contracts

Sources: Limited Partnership Agreement (Inergy Midstream, L.P.), Limited Partnership Agreement (Inergy Midstream, L.P.)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; provided, that Net Loss Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 2 contracts

Sources: Limited Partnership Agreement (EQGP Holdings, LP), Limited Partnership Agreement (EQT GP Holdings, LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); andand AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (ii) The Second, the balance, if any, 100% to the General Partner.

Appears in 1 contract

Sources: Limited Partnership Agreement (BP Midstream Partners LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item and all items of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, that Net Loss Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and; (ii) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Sources: Agreement of Limited Partnership (CSI Compressco LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (iA) First, to the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i6.1(a)(ii)(A) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); andand FIRST AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP (iiB) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Sources: Limited Partnership Agreement (Alon USA Partners, LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item and all items of income, gain, loss loss, deduction and deduction Simulated Gain taken into account in computing Net Loss for such taxable period) period shall be allocated as follows: (i) First, to the General Partner and the Unitholders, Pro Rata; provided, that Net Loss Losses shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Sources: Limited Partnership Agreement (Memorial Production Partners LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.. AGREEMENT OF LIMITED PARTNERSHIP

Appears in 1 contract

Sources: Limited Partnership Agreement (Rice Midstream Partners LP)

Net Loss. Net Loss for each taxable period year (including a pro rata part of each item of income, gain, loss loss, and deduction taken into account in computing Net Loss for such taxable periodyear) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period year (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.

Appears in 1 contract

Sources: Agreement of Limited Partnership (Alliance Resource Partners Lp)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The Second, the balance, if any, 100% to the General Partner.. AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP

Appears in 1 contract

Sources: Limited Partnership Agreement (Oasis Midstream Partners LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (iA) First, to the Unitholders, Pro Rata; provided, that Net Loss shall not be allocated pursuant to this Section 6.1(b)(i6.1(a)(ii)(A) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (iiB) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Sources: Limited Partnership Agreement (Alon USA Partners, LP)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item and all items of income, gain, loss loss, deduction, and deduction credit taken into account in computing Net Loss for such taxable period) period shall be allocated as follows: (iA) First, to the Unitholders, Pro Rata; provided, that Net Loss Losses shall not be allocated pursuant to this Section 6.1(b)(i‎Section 6.1(a)(ii)(A) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (iiB) The balance, if any, 100% to the General PartnerManaging Member.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Sunpower Corp)

Net Loss. Net Loss for each taxable period (including a pro rata part of each item of income, gain, loss and deduction taken into account in computing Net Loss for such taxable period) shall be allocated as follows: (i) First, to the Unitholders, Pro Rata; provided, that Net Loss Losses shall not be allocated pursuant to this Section 6.1(b)(i6.1 (b)(i) to the extent that such allocation would cause any Unitholder to have a deficit balance in its Adjusted Capital Account at the end of such taxable period (or increase any existing deficit balance in its Adjusted Capital Account); and (ii) The balance, if any, 100% to the General Partner.

Appears in 1 contract

Sources: Limited Partnership Agreement