Deficit Balance Sample Clauses

Deficit Balance. The Member shall have no liability to restore all or any portion of a deficit balance in its Capital Account.
Sample 1Sample 2Sample 3See All (7)
AutoNDA by SimpleDocs
Deficit Balance. Net Losses shall not be allocated to the Limited Partners if such allocation would, together with any decrease (and increase) of the Limited Partner's Capital Account pursuant to the provisions of the Regulations Sections 1.704-1, (5) and (6), cause or increase a deficit balance. Each Limited Partner's Capital Account adjusted as provided by this Section 6.06(a) shall be referred to as the "Adjusted Capital Account."
Sample 1Sample 2Sample 3See All (4)
Deficit Balance. Landlord shall pay promptly any deficit balance upon receipt of the monthly statement, which reports the amount due. A service charge of % per month shall be added to balances not brought current by the _ of the following month in which the deficit balance is reported to Landlord. Landlord agrees to report any error or discrepancy in writing within thirty (30) days of receipt of monthly statement. Failure to report any such error within thirty
Sample 1
Deficit Balance. Except as otherwise required in the Act (and subject to the terms of this Article), no Member or Economic Interest Owner shall have any liability to restore any portion of a deficit balance in such Member’s or Economic Interest Owners Capital Account.
Sample 1Sample 2
Deficit Balance. Deficit Net Balances will not be carried forward into the subsequent Contract Years.
Sample 1
Deficit Balance. Except as otherwise required in the Act (and subject to the provisions of this section), no member or economic interest owner shall have any liability to any portion of a deficiency balance in such member or ownership capital account. 4.5 Qualified income offset. Any member or economic interest owner who unexpectedly receives an adjustment, award or distribution Treasury regulations section 1.704-1 (b)(2)(ii)(d)(4), (5) or (6) shall be allocated items of revenue and profit (consisting of a pro rata portion of each item of Company Revenue, including gross revenue, and profit for such year) on an amount and manner sufficient to eliminate any resulting deficit balance as soon as possible. -8- 4.6
Sample 1
Deficit Balance. Except as otherwise expressly provided herein, no Partner has any obligation to restore a deficit balance in such Partner’s Capital Account or to make any contributions to the Partnership in order to restore such deficit balance. No Partner shall be paid interest on any Capital Contribution.
Sample 1
AutoNDA by SimpleDocs
Deficit Balance. Except as otherwise required in the Law (and --------------- subject to the terms of this Article), no Member shall have any liability to restore all or any portion of a deficit balance in such Member's Capital Account.
Sample 1
Deficit Balance. Solely for the purposes of this Section 4.3, there will be excluded from a Partner's deficit balance in its Capital Account any amount the Partner is then obligated to restore or treated under Treas. Reg. Section 1.704-1(b) or Temporary Regulations thereunder as obligated to restore to its Capital Account, including, without limitation, the Partner's share of Minimum Gain.
Sample 1

Related to Deficit Balance

  • Account Balance The Servicer must never allow any Custodial T&I Account to become overdrawn as to any individual related Borrower. If there are insufficient funds in the account, the Servicer must advance its own funds to cure the overdraft.

  • 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.

  • Credit Balances No interest or other amount will be paid by the Custodian on any credit balance on an Allocated Account.

  • 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.

  • 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).

  • Cash Balance At Closing, Purchaser shall pay to Seller the Purchase Price, less the Xxxxxxx Money, plus or minus the prorations described in this Agreement (such amount, as adjusted, being referred to as the “Cash Balance”). Purchaser shall pay the Cash Balance by federal funds wire transferred to an account designated by Seller in writing.

  • Balance Balance of funds owed for the reservation is due 60 days prior to arrival date and may include a refundable damage deposit. The balance is due on _BalanceDueDate_. Payment of the balance may be made by traveler's checks or certified check or major credit card. Personal checks will be accepted upon approval but must be cleared by the due date. If funds are not credited by the due date then the reservation will be cancelled and no refund of the deposit will be made. DAMAGE DEPOSIT Damage deposit will be refunded so long as there is no damage within 7 -10 days of checkout pending inspection by cleaning firm or our inspectors. CANCELLATION POLICY In the event that you must cancel your reservation, please be aware that cancellations must be in writing and must occur at least 60 days prior to arrival date. If cancellation occurs 60 days or more prior to arrival date all monies will be refunded with the exception of a $250.00 administrative fee. GUESTS THAT DO NOT CANCEL MORE THAN 60 DAYS PRIOR TO THE CHECK IN DATE WILL BE CHARGED THE FULL RENTAL AMOUNT (INCLUDING ALL FEES). There will be no refund for early departure for any reason. It is highly recommended that Tenant purchases Trip Insurance, we provide multiple opportunities for Tenant to purchase Standard Trip Insurance and Cancel For Any Reason Insurance. Refunds are NOT given for inclement weather, hurricane evacuations (whether mandatory or otherwise), travel bans or restrictions, military deployments, restricted access to resort or barrier islands or the general municipality, earthquakes, road or airport closings or late arrivals, pandemics (whether declared or not) ("Events"). We strongly recommend that you purchase travel insurance and by proceeding with the reservation without buying insurance you specifically acknowledge that this is a rental home and it is not a hotel and that further you agree to pay all rental amounts due in the event of such an Event occurring. HAZARDOUS PRACTICES No barbeque grills of any kind are permitted on balconies or in the unit. No open flames (i.e., candle burning) are permitted on balconies or in the unit. Do not dismantle smoke detectors as they are there for your protection. Use the overhead stove fan when cooking to avoid accidental, activation of smoke detector alarm. The guest will be charged a $200 repair and inspection fee for tampering with or deactivating a smoke alarm. ABSOLUTELY NO PETS Unless the rented property is advertised as pet friendly and Tenant contacted the Agent about a pet in advance of the arrival date, then absolutely no pets are allowed. If evidence of a pet(s) is found in the unit or on the premises, then Tenant and all guests will be asked to vacate immediately with no refund of rent or damage deposit. Pets on the property subject the Tenant to a $500 fine (pre-approved service dogs are excepted). If the property is advertised as pet friendly then the following provisions apply: We allow one small/medium sized DOG up to 40 lbs each for free subject to the medical and damage provisions of this agreement. Additional DOGS may be allowed in Agent's sole discretion, there is a $75 dog fee for each additional dog allowed including all dogs over 40 lbs. All pets must be up to date on rabies and other vaccinations. (documentation from an accredited veterinarian must be provided by Guest upon request). All pets must be treated with a flea and tick repellent three days prior to arrival. Guests are responsible for cleaning up all pet waste and disposing of it in a proper trash bin Pets must not be allowed on to furniture or in bedrooms at any time Pets must not make excessive noise Pets must be crated when left in the property and must not be left un-attended for any undue length of time Guest must observe all local rules, regulations and ordinances regarding pets at all time Agent reserves the right to not permit any dog at any time The guest will be charged a $200 clean up fee for the removal of any dog waste in the home or the yard. If your dog/s cause any damage, or the property requires additional cleaning the guest will be charged the cost of any repairs or clean up. If a security deposit has been paid it will be deducted. If there is no security deposit then the guest authorizes their credit card to be charged directly for the repair or clean up cost. Homeowner and Agent assume no responsibility for any illness or injury that may occur to pets or humans while on the premises. Prohibited Breeds of Dogs include any mix of: - Akita; - Boxer; - Bull Terrier; - Bullmastiff; - Chow Chow; - Doberman Pinscher; - German Shepherd; - Giant Schnauzer - Mastiff; - Ovtcharka; - Presa Canario; - Pit Bull; - Rhodesian Ridgeback; - Rottweiler; - Neapolitan Mastiff;

  • DISTRIBUTION OF EXCESS AGGREGATE CONTRIBUTIONS The Advisory Committee will determine excess aggregate contributions after determining excess deferrals under Section 14.07 and excess contributions under Section 14.08. If the Advisory Committee determines the Plan fails to satisfy the ACP test for a Plan Year, it must distribute the excess aggregate contributions, as adjusted for allocable income, during the next Plan Year. However, the Employer will incur an excise tax equal to 10% of the amount of excess aggregate contributions for a Plan Year not distributed to the appropriate Highly Compensated Employees during the first 2 1/2 months of that next Plan Year. The excess aggregate contributions are the amount of aggregate contributions allocated on behalf of the Highly Compensated Employees which causes the Plan to fail to satisfy the ACP test. The Advisory Committee will distribute to each Highly Compensated Employee his respective share of the excess aggregate contributions. The Advisory Committee will determine the respective shares of excess aggregate contributions by starting with the Highly Compensated Employee(s) who has the greatest contribution percentage, reducing his contribution percentage (but not below the next highest contribution percentage), then, if necessary, reducing the contribution percentage of the Highly Compensated Employee(s) at the next highest contribution percentage level (including the contribution percentage of the Highly Compensated Employee(s) whose contribution percentage the Advisory Committee already has reduced), and continuing in this manner until the ACP for the Highly Compensated Group satisfies the ACP test. If the Highly Compensated Employee is part of an aggregated family group, the Advisory Committee, in accordance with the applicable Treasury regulations, will determine each aggregated family member's allocable share of the excess aggregate contributions assigned to the family unit.

Time is Money Join Law Insider Premium to draft better contracts faster.