Common use of Allocation of Net Profit Clause in Contracts

Allocation of Net Profit. Except as otherwise provided in the further provisions of this Article IV, Net Profit of the Company for any fiscal year shall be allocated as follows and in the following order of priority: (a) First, to LVSI to the extent of any deficit balance in its Capital Account; (b) Next, to Interface Holding until it has received aggregate allocations of Net Profit pursuant to this Section 4.2(b) for the current and all prior years equal to the cumulative Net Loss allocated to such Member pursuant to Section 4.3(b) for all prior periods; (c) Next, if a Conversion has occurred, to Interface Holding until it has received aggregate allocations of Net Profit pursuant to this Section 4.2(c) for the current and all prior years equal to the cumulative accrued Preferred Return; (d) Next, to LVSI until it has received aggregate allocations of Net Profit pursuant to this Section 4.2(d) for the current and all prior years equal to the cumulative Net Loss allocated to such Member pursuant to Section 4.3(a) for all prior periods; (e) Thereafter, to LVSI.

Allocation of Net Profit. Except as otherwise provided in the further provisions of this Article IV, Net Profit of the Company for any fiscal year shall be allocated as follows and in the following order of priority: (a) First, to LVSI to the extent of its Adjusted Capital Account Deficit, if any; PROVIDED, HOWEVER, that any deficit balance Net Profit allocated pursuant to this Section 4.2(a) for any fiscal year shall not exceed the Net Profit of the Company for such fiscal year computed as if Section 4.3A were not in its Capital Accountthis Agreement; (b) Next, to Interface Holding until it has received aggregate allocations of Net Profit pursuant to this Section 4.2(b) for the current and all prior years equal to the cumulative Net Loss allocated to such Member pursuant to Section 4.3(b) for all prior periods; (c) Next, if a Conversion has occurred, to Interface Holding until it has received aggregate allocations of Net Profit pursuant to this Section 4.2(c) for the current and all prior years equal to the cumulative accrued Preferred Return; (d) Next, to LVSI until it has received aggregate allocations of Net Profit pursuant to this Section 4.2(d) for the current and all prior years equal to the cumulative Net Loss allocated to such Member pursuant to Section 4.3(a) for all prior periods; (e) Thereafter, to LVSI.