Common use of Capital Account Deficits Clause in Contracts

Capital Account Deficits. Notwithstanding any provision to the contrary, items of expense or loss shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)), as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss to the General Partner in accordance with this Section 5.1(d), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction previously allocated to such Partner under this Section 5.1(d).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or net loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or net loss to the General Partner in accordance with this Section 5.1(d5.1(f), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of net loss or deduction previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d5.1(e), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such Partner under this Section 5.1(d5.1(e).

Capital Account Deficits. Notwithstanding any provision to the contrary, items of expense or loss Loss shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted 's Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(12(g) and 1.704-2(i)(52(i). Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such each Partner under this Section 5.1(d).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or net loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or net loss to the General Partner in accordance with this Section 5.1(d), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of net loss or deduction previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, Net Loss (or items of expense or loss Net Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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 Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or loss Net Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Net Loss to the General Partner in accordance with this Section 5.1(d)5.4, to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Net Income shall be allocated to such the General Partner in an amount necessary to offset the items of loss or deduction Net Loss previously allocated to such the General Partner under this Section 5.1(d)5.4.

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted 's Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or net loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or net loss to the General Partner in accordance with this Section 5.1(d5.1(f), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain profit shall be allocated to such Partner in an amount necessary to offset the items of net loss or deduction previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such the General Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such the General Partner under this Section 5.1(d).

Capital Account Deficits. Notwithstanding any provision to the contrary, items of expense or loss Loss shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(12(g) and 1.704-2(i)(52(i). Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such each Partner under this Section 5.1(d).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or net loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or net loss to the General Partner in accordance with this Section 5.1(d5.1(f), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain shall be allocated to such Partner in an amount necessary to offset the items of net loss or deduction previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d5.1(f), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (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, as determined in accordance with Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5). Any items of expense or net loss in excess of that limitation shall be allocated to the REIT General Partner. After the occurrence of an allocation of items of expense or net loss to the REIT General Partner in accordance with this Section 5.1(d5.1(f), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain shall be allocated to such Partner in an amount necessary to offset the items of net loss or deduction previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, items of expense or loss Loss shall not be allocated to a Limited Partner to ------------------------ the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted 's Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)), as determined in accordance with Regulations Sections 1.704-2(g)(1) to exceed the sum of such Partner's shares of Partnership Minimum Gain and 1.704-2(i)(5)Partner Nonrecourse Debt Minimum Gain. Any items of expense or loss in excess of that limitation shall be allocated to the General Partnerother Partners who have positive Capital Account balances in accordance with their respective Percentage Interests. After the occurrence of an allocation of items of expense or loss to the General a Partner in accordance with this Section 5.1(d5.01(i), to the extent permitted by Regulations Section 1.704-1(b), items of income profit, income, or gain shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction previously allocated to such Partner under this Section 5.1(d5.01(i).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal taxable year (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 Minim um Gain and Partner Nonrecourse Debt Minimum Gain, as determined in accordance with Regulations Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5). Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d5.1(f), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such Partner under this Section 5.1(d5.1(f).

Capital Account Deficits. Notwithstanding any provision to the contrary, items of expense or loss Loss shall not be allocated to a Limited Partner ------------------------ to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted 's Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) ), and (6)), as determined in accordance with Regulations Sections 1.704-2(g)(1) to exceed the sum of such Partner's shares of Partnership Minimum Gain and 1.704-2(i)(5)Partner Nonrecourse Debt Minimum Gain. Any items of expense or loss in excess of that limitation shall be allocated to the General Partnerother Partners who have positive Capital Account balances in accordance with their respective Percentage Interests. After the occurrence of an allocation of items of expense or loss to the General a Partner in accordance with this Section 5.1(d5.01(i), to the extent permitted by Regulations Section 1.704-1(b), items of income profit, income, or gain shall be allocated to such Partner in an amount necessary to offset the items of a loss or deduction previously allocated to such Partner under this Section 5.1(d5.01(i).

Capital Account Deficits. Notwithstanding any provision to the contrary, Loss (or items of expense or loss Loss) shall not be allocated to a Limited Partner to the extent that such allocation would cause or increase a deficit in such Partner’s Adjusted Capital Account at the end of any fiscal year (after reduction to reflect the items described in Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) and (6)), as determined in accordance with Regulations Sections 1.704-2(g)(1) to exceed the sum of such Partner’s shares of Partnership Minimum Gain and 1.704-2(i)(5)Partner Nonrecourse Debt Minimum Gain. Any items of expense or loss Loss in excess of that limitation shall be allocated to the General Partner. After the occurrence of an allocation of items of expense or loss Loss to the General Partner in accordance with this Section 5.1(d5.1(e), to the extent permitted by Regulations Section 1.704-1(b), items of income or gain Profit shall be allocated to such the General Partner in an amount necessary to offset the items of loss or deduction Loss previously allocated to such the General Partner under this Section 5.1(d5.1(e).