Allocation to Avoid Capital Account Deficits Sample Clauses

Allocation to Avoid Capital Account Deficits. To the extent that any debits under Sections 5.4 through 5.5 of this Agreement would reduce the balance of the Capital Account of any Limited Partner below zero, that portion of any such debits will be allocated instead to the Capital Account of the General Partner. Any credits in any subsequent Fiscal Period that otherwise would be allocable under Sections 5.4 through 5.5 of this Agreement to the Capital Account of any Limited Partner previously affected by the application of this Section 5.6 will instead be allocated to the Capital Account of the General Partner in amounts necessary to offset all previous debits attributable to the Limited Partner, made in accordance with this Section 5.6, that have not been recovered.
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Allocation to Avoid Capital Account Deficits. To the extent that any debits pursuant to Section 3.4 through Section 3.7 hereof would reduce the balance of the Capital Account of any Limited Partner below zero, that portion of any such debits is instead allocated to the Capital Account of the General Partner. Any credits in any subsequent Fiscal Period that would otherwise be allocable pursuant to Section 3.4 through Section 3.7 hereof to the Capital Account of any Limited Partner previously affected by the application of this Section 3.8 are instead allocated to the Capital Account of the General Partner in such amounts as are necessary to offset all previous debits attributable to such Limited Partner (but allocated to the General Partner) pursuant to this Section 3.8 not previously recovered.
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Allocation to Avoid Capital Account Deficits. To the extent that any debits pursuant to Sections 5.4 through 5.6 hereof would reduce the balance of the Capital Account of any Member below zero, that portion of any such debits instead shall be allocated to the Capital Accounts of the Members with positive Capital Account Balances in proportion to such balances. Any credits in any subsequent Fiscal Period which otherwise would be allocable pursuant to Sections 5.4 through 5.6 hereof to the Capital Account of any Member previously affected by the application of this Section 5.7 instead shall be allocated to the Capital Account of the Members allocated debits pursuant to the preceding sentence in such amounts as are necessary to offset all previous debits attributable to such Member, pursuant to this Section 5.7, that have not been recovered.
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Allocation to Avoid Capital Account Deficits. To the extent that any debits under Sections 7.4 through 7.6 of this Declaration would reduce the balance of the Capital Account of any Shareholder below zero, that portion of any such debits will be allocated instead to the Capital Account of the Special Shareholder. Any credits in any subsequent Fiscal Period that otherwise would be allocable under Sections 7.4 through 7.6 of this Declaration to the Capital Account of any Shareholder previously affected by the application of this Section 7.7 will instead be allocated to the Capital Account of the Special Shareholder in amounts necessary to offset all previous debits attributable to the Shareholder, made in accordance with this Section 7.7, that have not been recovered.
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Allocation to Avoid Capital Account Deficits. To the extent that any debits pursuant to Sections 5.4 through 5.7 hereof would reduce the balance of the Capital Account of any Limited Partner below zero, that portion of any such debits shall instead be allocated to the Capital Account of the Manager. Any credits in any subsequent Fiscal Period which would otherwise be allocable pursuant to Sections 5.4 through 5.7 hereof to the Capital Account of any Limited Partner previously affected by the application of this Section 5.9 shall instead be allocated to the Capital Account of the Manager in such amounts as are necessary to offset all previous debits attributable to such Limited Partner pursuant to this Section 5.9 not previously recovered.
Sample 1
Allocation to Avoid Capital Account Deficits. To the extent that any debits pursuant to Articles 3.4 through 3.7 hereof would reduce the balance of the Capital Account of any Member below zero, that portion of any such debits shall instead be allocated to the Capital Account of the Manager. Any credits in any subsequent Fiscal Period which would otherwise be allocable pursuant to Articles 3.4 through 3.7 hereof to the Capital Account of any Member previously affected by the application of this Article 3.8 shall instead be allocated to the Capital Account of the Manager in such amounts as are necessary to offset all previous debits attributable to such Member pursuant to this Article 3.8 not previously recovered.
Sample 1
Allocation to Avoid Capital Account Deficits. To the extent that any debits under Sections 7.4 through 7.6 hereof would reduce the balance of the Capital Account of any Unitholder below zero, that portion of any such debits will be allocated instead to the Capital Account of the Special Unitholder. Any credits in any subsequent Fiscal Period that otherwise would be allocable under Sections 7.4 through 7.6 hereof to the Capital Account of any Unitholder previously affected by the application of this Section 7.7 will instead be allocated to the Capital Account of the Special Unitholder in amounts necessary to offset all previous debits attributable to the Unitholder, made in accordance with this Section 7.7, that have not been recovered.
Sample 1
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Related to Allocation to Avoid Capital Account Deficits

  • Capital Account Deficits Loss shall not be allocated to a Limited Partner to the extent that such allocation would cause a deficit in such Partner’s Capital Account (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain. Any Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of Loss to the General Partner in accordance with this Section 5.01(e), to the extent permitted by Regulations Section 1.704-1(b), Profit first shall be allocated to the General Partner in an amount necessary to offset the Loss previously allocated to the General Partner under this Section 5.01(e).

  • Deficit Capital Account Upon the dissolution of the Company, any Member having a deficit balance in its Capital Account shall contribute to the Company the amount of cash or other assets (at their fair market value) necessary to bring the balance of such Member's Capital Account to zero after taking into account all allocations required by the regulations under Section 704(b) of the Code and all distributions of cash and other assets.

  • Deficit Capital Accounts No Member will be required to pay to the Company, to any other Member or to any third party any deficit balance that may exist from time to time in the Member’s Capital Account.

  • Adjustments to Capital Accounts At the end of each Fiscal Period, the Capital Accounts of the Partners shall be adjusted in the following manner:

  • Capital Accounts Allocations There shall be established in respect of each Holder a separate capital account in the books and records of the Up-MACRO Holding Trust in respect of the Holder's Capital Contributions to the Up-MACRO Holding Trust (each, a "Capital Account"), to which the following provisions shall apply:

  • Book Capital Accounts The Book Capital Account balance of each Holder shall be adjusted each day by the following amounts:

  • Allocation of Nonrecourse Debt For purposes of Regulations Section 1.752-3(a), the Partners agree that Nonrecourse Liabilities of the Partnership in excess of the sum of (i) the amount of Partnership Minimum Gain and (ii) the total amount of Nonrecourse Built-in Gain shall be allocated among the Partners in accordance with their respective Partnership Interests.

  • Negative Capital Accounts No Member shall be required to pay to any other Member or the Company any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company).

  • Book Allocations The net income and net loss of the Company shall be allocated entirely to the Member.

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