Common use of Allocation of Net Profits or Net Losses Clause in Contracts

Allocation of Net Profits or Net Losses. (a) Except as otherwise expressly provided in this Article V, and subject to the provisions of Section 704(c) of the Code, Net Profits or Net Losses of the Partnership shall be allocated to the Partners pro rata in --- ---- accordance with their respective Partnership Interests. (b) No allocation of Net Losses or other item of loss or deduction shall be made to a Partner if it is determined that such allocation will cause the Partner's Capital Account to have a deficit balance in excess of any amount such Partner is obligated to restore within the meaning of Treasury Regulations Sections 1.704-l(b) and 1.704-2, after taking into account the adjustments described in Treasury Regulations Sections 1.704- 1(b)(2)(ii)(d)(4), (5) and (6).

Allocation of Net Profits or Net Losses. (a) Except as otherwise expressly provided in this Article V, and subject to the provisions of Section 704(c) of the Code, Net Profits or Net Losses of the Partnership Company shall be allocated to the Partners Members pro rata in --- ---- accordance with their respective Partnership Membership Interests. (b) No allocation of Net Losses or other item of loss or deduction shall be made to a Partner Member if it is determined that such allocation will cause the PartnerMember's Capital Account to have a deficit balance in excess of any amount such Partner Member is obligated to restore within the meaning of Treasury Regulations Sections 1.704-l(b) and 1.704-2, after taking into account the adjustments described in Treasury Regulations Sections 1.704- 1.704-1(b)(2)(ii)(d)(4), (5) and (6).

Allocation of Net Profits or Net Losses. (a) Except as otherwise expressly provided in this Article V, and subject to the provisions of Section 704(c) of the Code, Net Profits or Net Losses of the Partnership Company shall be allocated to the Partners Members pro rata in --- ---- accordance with their respective Partnership Membership Interests. (b) No allocation of Net Losses or other item of loss or deduction shall be made to a Partner Member if it is determined that such allocation will cause the Partner's Member’s Capital Account to have a deficit balance in excess of any amount such Partner Member is obligated to restore within the meaning of Treasury Regulations Sections 1.704-l(b) and 1.704-2, after taking into account the adjustments described in Treasury Regulations Sections 1.704- 1.704-1(b)(2)(ii)(d)(4), (5) and (6).