Common use of Allocations of Income and Loss Clause in Contracts

Allocations of Income and Loss. (a) Taxable gains shall be first allocated to those Members and Economic Interest Owners, if any, with negative capital accounts, pro rata according to their negative capital accounts, until all such accounts have been returned to zero.

Allocations of Income and Loss. (a) Taxable gains Income shall be first allocated to those Members and Economic Interest Owners, if any, with negative capital accountsCapital Accounts, pro rata according to their negative capital accountsCapital Accounts, until all such accounts Capital Accounts have been returned restored to zero.