General Allocation. Any item of loss, deduction, or expenditure described in Code Section 705(a)(2)(B) that is attributable to a Member Nonrecourse Debt shall be allocated to the Member that bears the Economic Risk of Loss with respect to such Member Nonrecourse Debt, in accordance with this Section 5.05.
Appears in 2 contracts
Sources: Operating Agreement (Cornerstone Core Properties REIT, Inc.), Operating Agreement (Cornerstone Healthcare Plus Reit, Inc.)
General Allocation. Any item of loss, deduction, or expenditure described in Code Section 705(a)(2)(B) that is attributable to a Member Nonrecourse Debt shall be allocated to the Member that bears the Economic Risk of Loss with respect to such Member Nonrecourse Debt, in accordance with this Section 5.05paragraph 7.6.
Appears in 1 contract
Sources: Operating Agreement