Common use of Gross Income Allocation Clause in Contracts

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii) were not in this Agreement.

Appears in 11 contracts

Samples: Limited Liability Company Agreement (Magellan Midstream Partners Lp), Limited Liability Company Agreement (SemGroup Energy Partners, L.P.), Limited Liability Company Agreement (Quest Energy Partners, L.P.)

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Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement; and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.6(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 3 have been made as if Section 6.03(d)(i5.6(c) hereof and this Section 6.03(d)(ii5.6(d) were not in this Agreement.

Appears in 9 contracts

Samples: Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC)

Gross Income Allocation. In the event event, any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount any amounts such Member is obligated to restore pursuant to any provision this Operating Agreement, plus (ii) such Member’s distributive share of this Agreement and Company Minimum Gain as of such date, plus (yiii) the amount such Member is deemed to be obligated to restore Member’s share of Partner Minimum Gain determined pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and Section 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii9.03(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI thisArticle IX have been made as if made, except assuming that Section 6.03(d)(i) hereof 9.03(c), and this Section 6.03(d)(ii9.03(d) were not contained in this Operating Agreement.

Appears in 7 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii6.06(d) shall be made only if and to the extent that such Member would have a deficit an Adjusted Capital Account balance Deficit in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i6.06(c) hereof and this Section 6.03(d)(ii6.06(d) were not in this the Agreement.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Calamos Asset Management, Inc. /DE/), Limited Liability Company Agreement (Calamos Asset Management, Inc. /DE/), Limited Liability Company Agreement (Calamos Asset Management, Inc. /DE/)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Fiscal Year that is in excess of the sum of (xi) the amount such Member is obligated to restore to the Company pursuant to any provision of this Agreement and Agreement, (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and (iii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulations Section 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided however, that an allocation pursuant to this Section 6.03(d)(ii) 6.2.4 shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 6 have been tentatively made as if Section 6.03(d)(i) hereof 6.2.3 and this Section 6.03(d)(ii) 6.2.4 were not in this the Agreement.

Appears in 5 contracts

Samples: Investor Rights Agreement (Mp3 Com Inc), Investor Rights Agreement (Mp3 Com Inc), Investor Rights Agreement (Mp3 Com Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount (if any) such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(iiA2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Appendix 1 have been made as if Section 6.03(d)(iA2(c) hereof of this Appendix 1 and this Section 6.03(d)(iiA2(d) were not in this the Agreement.

Appears in 5 contracts

Samples: Letter Agreement (Bioceres S.A.), Letter Agreement (Bioceres S.A.), Letter Agreement (Bioceres S.A.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i6.2(c) hereof and this Section 6.03(d)(ii6.2(d) were not in this Agreementapplicable.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (JGWPT Holdings Inc.), Limited Liability Company Agreement (JLL JGW Distribution, LLC), Limited Liability Company Agreement (JGWPT Holdings Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x1) the amount (if any) such Member is obligated to restore pursuant to any provision of this Agreement the Company, and (y2) the amount such Member is deemed to be obligated to restore pursuant to Regulations Section 1.704-1(b)(2)(ii)(c) or the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided provided, that an allocation pursuant to this Section 6.03(d)(ii6.3.A(v) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 6 have been tentatively made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii6.3.A(v) and Section 6.3.A(iv) were not in this Agreement.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Limited Liability Company Agreement (Brookfield DTLA Fund Office Trust Investor Inc.), Limited Liability Company Agreement (Brookfield DTLA Fund Office Trust Investor Inc.)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal taxable year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii4.2(f) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI ARTICLE IV have been tentatively made as if Section 6.03(d)(i4.2(e) hereof and this Section 6.03(d)(ii4.2(f) were not in this Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (GoDaddy Inc.), Limited Liability Company Agreement (GoDaddy Inc.), Limited Liability Company Agreement (GoDaddy Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which that is in excess of the sum of (xi) the amount such Member is obligated to restore (pursuant to any provision of this Agreement such Member’s obligation to make a special contribution or otherwise), and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that that, an allocation pursuant to this Section 6.03(d)(ii6.2(d) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been tentatively made as if Section 6.03(d)(i6.2(c) hereof and this Section 6.03(d)(ii6.2(d) were not in this Agreement.

Appears in 3 contracts

Samples: Operating Agreement (Viking Energy Group, Inc.), Operating Agreement (Viking Energy Group, Inc.), Operating Agreement (Nobilis Health Corp.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii) were not in this the Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Williams Energy Partners L P), Limited Liability Company Agreement (Williams Energy Partners L P), Limited Liability Company Agreement (Williams Energy Partners L P)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 6 have been tentatively made as if this Section 6.03(d)(i6.3(d) and Section 6.3(c) hereof and this Section 6.03(d)(ii) were not in this the Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Operating Agreement (Diamond Resorts Parent, LLC), Limited Liability Company Operating Agreement (Diamond Resorts Parent, LLC), Limited Liability Company Agreement (Diamond Resorts Parent, LLC)

Gross Income Allocation. In the event any Member has a ----------------------- deficit Capital Account at the end of any Company fiscal year which that is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii) were not in this Agreement.

Appears in 3 contracts

Samples: Sunoco Partners Marketing & Terminals Lp, Sunoco Logistics Partners Lp, Sunoco Logistics Partners Lp

Gross Income Allocation. In the event any Member Unitholder has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member Unitholder is obligated to restore restore, if any, pursuant to any provision of this Agreement and (yii) the amount such Member Unitholder is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member Unitholder shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii7.4(d) shall be made only if and to the extent that such Member a Unitholder would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI VII have been tentatively made as if Section 6.03(d)(i7.4(c) hereof and this Section 6.03(d)(ii7.4(d) were not in this Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (U.S. Shipping Partners L.P.), Limited Liability Company Agreement (U.S. Shipping Partners L.P.), U.S. Shipping Partners L.P.

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal taxable year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.05(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.05(b) hereof and this Section 6.03(d)(ii5.05(c) were not in this Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Alight Group, Inc.), Limited Liability Company Agreement (Blackstone Holdings III L.P.), Limited Liability Company Agreement (Alight Inc. / DE)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.3(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i6.3(d)(i) hereof and this Section 6.03(d)(ii6.3(d)(ii) were not in this Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Universal Compression Partners, L.P.), Limited Liability Company Agreement (Regency Energy Partners LP), Limited Liability Company Agreement (Universal Compression Partners, L.P.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Allocation Year that is in excess of the sum of (x) the amount such Member is expressly obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to Regulations Section 1.704-1(b)(2)(ii)(c) or either of the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 5 have been made as if Section 6.03(d)(i5.2(c) hereof and this Section 6.03(d)(ii5.2(d) were not in this the Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Public Service Co of New Hampshire), Limited Liability Company Agreement (Nstar/Ma)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company gross income and gain in the amount of such excess as quickly as possible; provided, provided that an allocation pursuant to this Section 6.03(d)(ii7.02(d) shall be made only if and to the extent that such Member would have a deficit Adjusted Capital Account balance Deficit in excess of such sum after all other allocations provided for in this Article VI VII have been made as if Section 6.03(d)(i7.02(c) hereof and this Section 6.03(d)(ii7.02(d) were not in this the Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Cayenta Inc), Limited Liability Company Agreement (Cayenta Inc), Limited Liability Company Agreement (Titan Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii7.02(d) shall be made only if and to the extent that such Member would have a deficit an Adjusted Capital Account balance Deficit in excess of such sum after all other allocations provided for in this Article VI VII have been made as if Section 6.03(d)(i7.02(c) hereof and this Section 6.03(d)(ii7.02(d) were not in this the Agreement.

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement (Amyris, Inc.), Operating Agreement (Amyris, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.04(b)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i6.04(b)(i) hereof and this Section 6.03(d)(ii6.04(b)(ii) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Blueknight Energy Holding, Inc.), Limited Liability Company Agreement (CB-Blueknight, LLC)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year which that is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Magellan Midstream Holdings Lp), Limited Liability Company Agreement (Regency Energy Partners LP)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal taxable year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-1.704- 2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.05(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.05(b) hereof and this Section 6.03(d)(ii5.05(c) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Fathom Digital Manufacturing), Business Combination Agreement (Altimar Acquisition Corp. II)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided however, that an allocation pursuant to this Section 6.03(d)(ii4.7(d) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI IV have been tentatively made as if Section 6.03(d)(i4.7(c) hereof and this Section 6.03(d)(ii4.7(d) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Adeptus Health Inc.), Limited Liability Company Agreement (Adeptus Health Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Taxable Year that is in excess of the sum of (xi) the amount such the Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such the Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of the Treasury Regulation Sections Regulations 1.704-2(g)(1) and 1.704-2(i)(5), each such the Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.6(D) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI ARTICLE V have been tentatively made as if Section 6.03(d)(i5.6(C) hereof and this Section 6.03(d)(ii5.6(D) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Pc Tel Inc), Limited Liability Company Agreement (Pc Tel Inc)

Gross Income Allocation. In the event any Member has a deficit balance in its Capital Account at the end of any Company fiscal year which is taxable period in excess of the sum of (xA) the amount such Member is obligated required to restore pursuant to any provision the provisions of this Agreement and (yB) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections Section 1.704-2(g)(12(g) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company the Company’s gross income and gain in the amount of such excess as quickly as possible; provided, provided that an allocation pursuant to this Section 6.03(d)(ii6.1(d)(v) shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account balance in excess of such sum as so adjusted after all other allocations provided for in this Article VI Section 6.1 have been tentatively made as if Section 6.03(d)(i6.1(d)(iv) hereof and this Section 6.03(d)(ii6.1(d)(v) were not in this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Niska Gas Storage Partners LLC), Operating Agreement (Niska Gas Storage Partners LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of of: (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain Gross Income in the amount of such excess as quickly as possible, provided provided, that an allocation pursuant to this Section 6.03(d)(ii8.02(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 8.02 have been made as if Section 6.03(d)(i8.02(c) hereof and this Section 6.03(d)(ii8.02(d) were not contained in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (TCEH Finance, Inc.), Limited Liability Company Agreement (Txu Energy Co LLC)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year Tax Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.05(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.05(b) hereof and this Section 6.03(d)(ii5.05(c) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Finance of America Companies Inc.), Limited Liability Company Agreement (Replay Acquisition Corp.)

Gross Income Allocation. In the event any Member has a deficit Capital Account capital account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Treas. Reg. Section 1.704-2(g)(1) and 1.704-1.704- 2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) paragraph 5.6.4 shall be made only if and to the extent that such Member would have a deficit Capital Account balance capital account in excess of such sum after all other allocations provided for in this Article VI these Regulatory Allocations have been made as if Section 6.03(d)(i) hereof paragraph 5.6.3 and this Section 6.03(d)(ii) paragraph 5.6.4 were not in this the Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Cbci Income & Growth Fund LLC), Operating Agreement (Cbci Income & Growth Fund LLC)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that an allocation pursuant to this Section 6.03(d)(ii5.05(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.05(b) hereof and this Section 6.03(d)(ii5.05(c) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Edgen Group Inc.), Limited Liability Company Operating Agreement (Edgen Group Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Fiscal Year that is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii7.2(d) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 7 have been tentatively made as if Section 6.03(d)(i7.2(c) hereof and this Section 6.03(d)(ii7.2(d) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (McGraw-Hill Companies Inc), Contribution Agreement (McGraw-Hill Companies Inc)

Gross Income Allocation. In the event that any Member has a deficit Deficit Capital Account at the end of any Company fiscal year Allocation Period which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.3(b)(iv) shall be made only if and to the extent that such Member would have a deficit Deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 6.3 have been made as if Section 6.03(d)(i6.3(b)(iii) hereof and this Section 6.03(d)(ii6.3(b)(iv) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (EIG BBTS Holdings, LLC), Limited Liability Company Agreement (TW Southcross Aggregator LP)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement LLC Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 5 have been made as if Section 6.03(d)(i5.2(c) hereof and this Section 6.03(d)(ii5.2(d) were not in this LLC Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Cemex Sa De Cv), Limited Liability Company Agreement (Cemex Sa De Cv)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii8.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI VIII have been made as if Section 6.03(d)(i8.03(d)(i) hereof and this Section 6.03(d)(ii8.03(d)(ii) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Quest Resource Corp), Limited Liability Company Agreement (Quest Resource Corp)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.05(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI ARTICLE V have been tentatively made as if Section 6.03(d)(i5.05(b) hereof and this Section 6.03(d)(ii5.05(c) were not in this Agreement.

Appears in 2 contracts

Samples: Business Combination Agreement (Spree Acquisition Corp. 1 LTD), Limited Liability Company Agreement (OPAL Fuels Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal taxable year which that is in excess of the sum of (xi) the amount such Member is obligated to restore (pursuant to any provision the terms of this Agreement or otherwise) and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(iiSubsection 5.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 5 have been made as if Section 6.03(d)(iSubsections 5.3(c) hereof and 5.3(h) and this Section 6.03(d)(iiSubsection 5.3(d) were not in this the Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Penske Automotive Group, Inc.), Limited Liability Company Agreement (Penske Automotive Group, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Fiscal Year that is in excess of the sum of (x1) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (y2) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that an allocation pursuant to this Section 6.03(d)(ii7.2(a)(iv) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 8 have been tentatively made as if Section 6.03(d)(i7.2(a)(iii) hereof and this Section 6.03(d)(ii7.2(a)(iv) were not in this Agreement.;

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Plum Creek Timber Co Inc), Limited Liability Company Agreement (MEADWESTVACO Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company Membership income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii2.4(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 2 have been made as if Section 6.03(d)(i2.4(c) hereof and this Section 6.03(d)(ii2.4(d) were not in this the Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Alcoa Corp)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year which year, and such deficit Capital Account is in excess of the sum of (xA) the amount such Member is obligated to restore pursuant to any provision provisions of this Agreement and (yB) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.5(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V hereof have been made as if Section 6.03(d)(i5.5(a) hereof and this Section 6.03(d)(ii5.5(d) were not in this Agreement.;

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided provided, that an allocation pursuant to this Section 6.03(d)(ii8.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI VIII have been made as if Section 6.03(d)(i8.03(d)(i) hereof and this Section 6.03(d)(ii8.03(d)(ii) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Oxford Resource Partners LP), Limited Liability Company Agreement (Oxford Resource Partners LP)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Allocation Period which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.3(b)(iv) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 6.3 have been made as if Section 6.03(d)(i6.3(b)(iii) hereof and this Section 6.03(d)(ii6.3(b)(iv) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (EIG BlackBrush Holdings, LLC), Limited Liability Company Agreement (Southcross Energy LLC)

Gross Income Allocation. In the event any Member holder of Units has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x) the amount such Member holder is obligated to restore pursuant to any provision of this Agreement Agreement, and (y) the amount such Member holder is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member holder shall be specially allocated items of Company Partnership income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.1(b)(iv) shall be made only if and to the extent that such Member holder would have a deficit Capital Account balance Deficit in excess of such sum after all other allocations provided for in this Article VI 6 have been made as if Section 6.03(d)(i6.1(b)(iii) hereof and this Section 6.03(d)(ii6.1(b)(iv) were not in this the Agreement.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Starwood Hotel & Resorts Worldwide Inc), Limited Partnership Agreement (Starwood Hotel & Resorts Worldwide Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Fiscal Year that is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member Limited Partner is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been made as if Section 6.03(d)(i5.2(c) hereof and this Section 6.03(d)(ii5.2(d) were not in this the Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (CVR Energy Inc), Limited Liability Company Agreement (CVR Partners, Lp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii7.2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI VII have been made as if Section 6.03(d)(i7.2(c) hereof and this Section 6.03(d)(ii7.2(d) were not in this the Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Penske Motorsports Inc), Operating Agreement (Penske Motorsports Inc)

Gross Income Allocation. In the event any a Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such the Member is obligated to restore pursuant to any provision of this Agreement Limited Liability Company Agreement, and (yii) the amount such the Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Treas. Reg. Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such the Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) 4.15 shall be made only if and to the extent that such the Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI IV have been made made, as if Section 6.03(d)(i) Article 4.12 hereof and this Section 6.03(d)(ii) 4.15 were not in this Limited Liability Company Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Imax Corp), Limited Liability Company Agreement (Imax Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount any amounts such Member is obligated to restore pursuant to any provision this Agreement, plus (ii) such Member’s distributive share of this Agreement and Company Minimum Gain as of such date, plus (yiii) the amount such Member’s share of Member is deemed to be obligated to restore Minimum Gain determined pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and Section 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.5(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been made as if made, except assuming that Section 6.03(d)(i) hereof 5.5(c), and this Section 6.03(d)(ii5.5(d) were not contained in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Carter Validus Mission Critical REIT, Inc.)

Gross Income Allocation. In the event If any Member holding Common Units has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.05(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.05(b) hereof and this Section 6.03(d)(ii5.05(c) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Apollo Global Management LLC), Limited Liability Company Agreement (Apollo Global Management LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of of: (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement; and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided however, that an allocation pursuant to this Section 6.03(d)(ii7.2(e) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI VII have been tentatively made as if Section 6.03(d)(i7.2(d) hereof and this Section 6.03(d)(ii7.2(e) were not in this the Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Onconova Therapeutics, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account balance at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6. 3(D) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 6.3 have been tentatively made as if Section 6.03(d)(i6.3(C) hereof and this Section 6.03(d)(ii6.3(D) were not in this the Agreement.. ​

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (MMA Capital Holdings, Inc.), Limited Liability Company Operating Agreement (MMA Capital Holdings, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which that is in excess of the sum of of: (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement; and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii8(c)(iv) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 8 have been tentatively made as if Section 6.03(d)(i8(c)(iii) hereof and this Section 6.03(d)(ii8(c)(iv) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Gross Income Allocation. In the event any Member has a deficit Capital Account capital account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections §§ 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.2(c) shall be made only if and to the extent that such Member would have a deficit Capital Account balance capital account in excess of such sum after all other allocations provided for in this Article VI V have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii5.2(c) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Spanco Industries, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i6.2(c) hereof and this Section 6.03(d)(ii6.2(d) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Manchester Mall Inc)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year Tax Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any other provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company gross income and gain in the amount of such excess as quickly as possible; provided, provided that an allocation pursuant to this Section 6.03(d)(ii8.01(c)(v) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Agreement have been made as if Section 6.03(d)(i8.01(c)(iv) hereof and this Section 6.03(d)(ii8.01(c)(v) were not in this Agreement.

Appears in 1 contract

Samples: Contribution Agreement (Baker Hughes Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections §§1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company gross income and gain in the amount of such excess as quickly as possible; provided, provided that however, an allocation pursuant to this Section 6.03(d)(ii4.5(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI ARTICLE 4 have been made as if Section 6.03(d)(i4.5(c) hereof and this Section 6.03(d)(ii4.5(d) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (RCC Western Stores, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which that is in excess of the sum of (xi) the amount such Member is obligated to restore (pursuant to any provision of this Agreement such Member’s obligation to make a special contribution or otherwise), and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-Regulations section 1.704- 2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that that, an allocation pursuant to this Section 6.03(d)(ii6.2(d) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been tentatively made as if Section 6.03(d)(i6.2(c) hereof and this Section 6.03(d)(ii6.2(d) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Viking Energy Group, Inc.)

Gross Income Allocation. In the event any Member has a deficit ----------------------- Capital Account at the end of any Company fiscal year which that is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii) were not in this Agreement.

Appears in 1 contract

Samples: Sunoco Logistics Partners Lp

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which that is in excess of the sum of (xi) the amount such Member is obligated to restore (pursuant to any provision of this Agreement such Member’s obligation to make a special contribution or otherwise), and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1Regulations section 1.704 -2(g)(1) and 1.704-2(i)(51.704 -2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that that, an allocation pursuant to this Section 6.03(d)(ii6.3(d) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been tentatively made as if Section 6.03(d)(i6.2(c) hereof and this Section 6.03(d)(ii6.2(d) were not in this Agreement.

Appears in 1 contract

Samples: Company Agreement (Northstar Healthcare Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Taxable Year that is in excess of the sum of (xi) the amount such the Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such the Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such the excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii10.6(d) shall be made only if and to the extent that such the Member would have a deficit Capital Account balance in excess of such this sum after all other allocations provided for in this Article VI X have been made as if Section 6.03(d)(i10.6(c) hereof and this Section 6.03(d)(ii10.6(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Legion Capital Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xa) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yb) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii) 2.4 shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in Article IX and this Article VI Exhibit A have been made as if Section 6.03(d)(i) hereof 2.3 of this Exhibit A and this Section 6.03(d)(ii) 2.4 were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Majestic Holdco, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount any amounts such Member is obligated to restore pursuant to any provision this Agreement, plus (ii) such Member’s distributive share of this Agreement and Company Minimum Gain as of such date, plus (yiii) the amount such Member’s share of Member is deemed to be obligated to restore Minimum Gain determined pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and Section 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii8.6(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 8 have been made as if made, except assuming that Section 6.03(d)(i) hereof 8.5(c), and this Section 6.03(d)(ii8.5(d) were not contained in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Inland Western Retail Real Estate Trust Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement the Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii1.2(c)(iv) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 1.2 have been tentatively made as if Section 6.03(d)(i1.2(c)(iii) hereof and this Section 6.03(d)(ii1.2(c)(iv) were not in this AgreementExhibit C-1.

Appears in 1 contract

Samples: Purchase Agreement (Novo Networks Inc)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal taxable year which that is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially specifically allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii6.2(d) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 6 have been tentatively made as if Section 6.03(d)(i6.2(c) hereof and this Section 6.03(d)(ii6.2(d) were not included in this Agreement.

Appears in 1 contract

Samples: Operating Agreement

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Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Taxable Period that is in excess of the sum of (xi) the amount such Member is obligated to restore, if any, pursuant to any provision of this Agreement, and (ii) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess excess, as quickly as possible; provided, provided that an allocation pursuant to this Section 6.03(d)(ii5.3(c)(i)(D) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 5.3 have been tentatively made as if Section 6.03(d)(i5.3(c)(i)(C) hereof and this Section 6.03(d)(ii5.3(c)(i)(D) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Charter Communications, Inc. /Mo/)

Gross Income Allocation. In the event any Member has a deficit Capital Account balance at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.3(D) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 6.3 have been tentatively made as if Section 6.03(d)(i6.3(C) hereof and this Section 6.03(d)(ii6.3(D) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Mma Capital Management, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which Fiscal Year that is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.2(a) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 6 have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii6.2(a) and Section 6.2(b) were not in this the Agreement.

Appears in 1 contract

Samples: Company Agreement (Calair LLC)

Gross Income Allocation. In the event any Member Holder has a deficit Capital Account at the end of any Company fiscal year which Taxable Year that is in excess of the sum of (xi) the amount such Member the Holder is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member the Holder is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member Holder shall be specially allocated items of Company income and gain in the amount of such the excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii10.6(d) shall be made only if and to the extent that such Member the Holder would have a deficit Capital Account balance in excess of such this sum after all other allocations provided for in this Article VI X have been made as if Section 6.03(d)(i10.6(c) hereof and this Section 6.03(d)(ii10.6(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.3(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 6 have been made as if Section 6.03(d)(i6.3(d)(i) hereof and this Section 6.03(d)(ii6.3(d)(ii) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Buckeye Partners L P)

Gross Income Allocation. In the event any Member has a deficit Capital Account capital account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections §§ 1.704-2(g)(12(g)(l) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.2(c) shall be made only if and to the extent that such Member would have a deficit Capital Account balance capital account in excess of such sum after all other allocations provided for in this Article VI V have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii5.2(c) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Spanco Industries, Inc.)

Gross Income Allocation. In the event any Member holder of RP Units has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xA) the amount such Member holder is obligated to restore pursuant to any provision of this Agreement Agreement, and (yB) the amount such Member holder is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member holder shall be specially allocated items of Company Partnership income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.1(b)(iv) shall be made only if and to the extent that such Member holder would have a deficit Capital Account balance Deficit in excess of such sum after all other allocations provided for in this Article VI 6 have been made as if Section 6.03(d)(i6.1(b)(iii) hereof and this Section 6.03(d)(ii6.1(b)(iv) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Partnership Agreement (Starwood Hotel & Resorts Worldwide Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore (pursuant to any provision the terms of this Agreement such Member's Promissory Note or otherwise), and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.01(iv) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 5 have been tentatively made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii5.01(iv) and Section 5.01(iii) here of were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Cenex Harvest States Cooperatives)

Gross Income Allocation. In the event any Member holder of OP Units has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xA) the amount such Member holder is obligated to restore pursuant to any provision of this Agreement Agreement, and (yB) the amount such Member holder is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member holder shall be specially allocated items of Company Partnership income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.1(b)(iv) shall be made only if and to the extent that such Member holder would have a deficit Capital Account balance Deficit in excess of such sum after all other allocations provided for in this Article VI 6 have been made as if Section 6.03(d)(i6.1(b)(iii) hereof and this Section 6.03(d)(ii6.1(b)(iv) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Partnership Agreement (Starwood Hotel & Resorts Worldwide Inc)

Gross Income Allocation. In the event that any Member has a deficit balance in its Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount (if any) such Member is obligated to restore to the Company pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), then each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that an allocation pursuant to this Section 6.03(d)(ii5.3(d) shall be made only if and to the extent that such Member would have a deficit in its Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.3(c) hereof and this Section 6.03(d)(ii5.3(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (NextDecade Corp.)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year which Allocation Year that is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) 6.3.4 shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 6 have been made as if Section 6.03(d)(i) hereof 6.3.3 and this Section 6.03(d)(ii) 6.3.4 were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Health Diagnostics of New Jersey, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount any amounts such Member is obligated to restore pursuant to any provision this Agreement, plus (ii) such Member’s distributive share of this Agreement and Company Minimum Gain as of such date, plus (yiii) the amount such Member’s share of Member is deemed to be obligated to restore Minimum Gain determined pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and Section 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii8.6(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 8 have been made as if made, except assuming that Section 6.03(d)(i) hereof 8.5(c), and this Section 6.03(d)(ii8.5(d) were not contained in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Inland Western Retail Real Estate Trust Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal taxable year which is in excess of the sum of (xi) the amount any amounts such Member is obligated to restore pursuant to any provision this Agreement, plus (ii) such Member’s distributive share of this Agreement and Company Minimum Gain as of such date, plus (yiii) the amount such Member’s share of Member is deemed to be obligated to restore Minimum Gain determined pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and Section 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii8.4(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 8 have been made as if made, except assuming that Section 6.03(d)(i) hereof 8.4(c), and this Section 6.03(d)(ii8.4(d) were not contained in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Behringer Harvard Opportunity REIT II, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, if any, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Reg. §§ 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that that, an allocation pursuant to this Section 6.03(d)(ii4.1(c)(iii) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 4.1 have been tentatively made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii4.1(c)(iii) were was not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (MagnaChip Semiconductor LTD (United Kingdom))

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal taxable year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Treasury Regulations, each such Member shall be specially allocated items of Company partnership income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii) Subsection shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI ARTICLE VII have been tentatively made as if Section 6.03(d)(i7.01(d) hereof and this Section 6.03(d)(ii7.01(e) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement

Gross Income Allocation. In the event If any Member has a deficit Adjusted Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii4.06(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI IV have been tentatively made as if Section 6.03(d)(i4.06(b) hereof and this Section 6.03(d)(ii4.06(c) were not in this Agreement.

Appears in 1 contract

Samples: Azz Inc

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided that, provided that an allocation pursuant to this Section 6.03(d)(ii6.6(d) shall be made only if and to the extent that such Member would have a deficit in such Member’s Adjusted Capital Account balance Balance in excess of such sum after all other allocations provided for in this Article VI 6 have been made as if Section 6.03(d)(i6.6(c) hereof and this Section 6.03(d)(ii6.6(d) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Turner Investments, Inc.)

Gross Income Allocation. In the event that any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i6.2(a) hereof and this Section 6.03(d)(ii6.2(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (U S Energy Systems Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which that is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Sunoco Logistics Partners L.P.)

Gross Income Allocation. In the event any Member has a deficit Capital Account balance at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount (if any) such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(51.7042(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(iiA.5(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Exhibit A have been made as if Section 6.03(d)(iA.5(c) hereof and this Section 6.03(d)(iiA.5(d) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided that, provided that an allocation pursuant to this Section 6.03(d)(ii5.05(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.05(b) hereof and this Section 6.03(d)(ii5.05(c) were not in this Agreement.

Appears in 1 contract

Samples: Exchange Agreement (Highland Transcend Partners I Corp.)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year which year, and such deficit Capital Account is in excess of the sum of (xA) the amount such Member is obligated to restore pursuant to any provision provisions of this Company Agreement and (yB) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5)) of the Treasury Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.3(a)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been made as if Section 6.03(d)(i5.3(a)(i) hereof and this Section 6.03(d)(ii5.3(a)(ii) were not in this Company Agreement.

Appears in 1 contract

Samples: Company Agreement (Vernafund CF LLC)

Gross Income Allocation. In the event any Company Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of of: (xi) the amount such Company Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Company Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Company Member shall be specially allocated items of Company income and gain Gross Income in the amount of such excess as quickly as possible, provided provided, that an allocation pursuant to this Section 6.03(d)(ii8.02(d) shall be made only if and to the extent that such Company Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 8.02 have been made as if Section 6.03(d)(i8.02(c) hereof and this Section 6.03(d)(ii8.02(d) were not contained in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Txu Energy Co LLC)

Gross Income Allocation. In the event any Member has a deficit balance in its Capital Account at the end of any Company fiscal year which is taxable period in excess of the sum of (xA) the amount such Member is obligated required to restore pursuant to any provision the provisions of this Agreement and (yB) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(12(g) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income gross income, gain and gain Simulated Gain in the amount of such excess as quickly as possiblepossible; provided, provided that an allocation pursuant to this Section 6.03(d)(ii6.1(c)(v) shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account balance in excess of such sum as adjusted after all other allocations provided for in this Article VI Section 6.1 have been tentatively made as if Section 6.03(d)(i6.1(c)(iv) hereof and this Section 6.03(d)(ii6.1(c)(v) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Viper Energy Partners LP)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal taxable year which that is in excess of the sum of (xi) the amount such Member is obligated to restore (pursuant to any provision the terms of this Agreement or otherwise) and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(iiSubsection 5.3(e) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI 5 have been made as if Section 6.03(d)(iSubsections 5.3(d) hereof and 5.3(i) and this Section 6.03(d)(iiSubsection 5.3(e) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Penske Automotive Group, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (x) the amount such Member is obligated to restore pursuant to any provision of this Agreement the LLC Agreement, and (y) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 2(g)(1),and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(iisubsection 6.04(a)(iii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI herein have been made as if Section 6.03(d)(isubsection 6.04(a)(ii) hereof and this Section 6.03(d)(iisubsection 6.04(a)(iii) were not in this the LLC Agreement.

Appears in 1 contract

Samples: Operating Agreement (Antra Holdings Group Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal taxable year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Treas. Reg. §§ 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii6.03(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i6.03(c) hereof and this Section 6.03(d)(ii6.03(d) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Gross Income Allocation. In the event that any Member has a deficit Capital Account at the end of any Company fiscal year which Allocation Year that is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.3(c) hereof and this Section 6.03(d)(ii5.3(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (Nelnet Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account capital account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections ss.ss. 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially spxxxxxly allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(iiSECTION 5.2(C) shall be made only if and to the extent that such Member would have a deficit Capital Account balance capital account in excess of such sum after all other allocations provided for in this Article VI ARTICLE V have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(iiSECTION 5.2(C) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Caraustar Industries Inc)

Gross Income Allocation. In the event any Member has a deficit ----------------------- Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) provision shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in Article 5 and this Article VI Exhibit A have been made as if Section 6.03(d)(i) hereof A. 3 above and this Section 6.03(d)(ii) A.4 were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Liberty Digital Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year Tax Year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5)) of the Treasury Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(iiparagraph (d) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI of this Agreement have been made as if Section 6.03(d)(iparagraphs (c) hereof and (d) of this Section 6.03(d)(ii) 6.2 were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Cascades Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.02(d)(iv) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 5.02 have been tentatively made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii5.02(d)(iv) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Stilwell Financial Inc)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.4(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.4(b) hereof and this Section 6.03(d)(ii5.4(c) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Evercore Partners Inc.)

Gross Income Allocation. In the event If any Member holding Common Units has a deficit Capital Account at the end of any Company fiscal year Fiscal Year which is in excess of the sum of (xi) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii5.05(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI V have been tentatively made as if Section 6.03(d)(i5.05(b) hereof and this Section 6.03(d)(ii5.05(c) were not in this Agreement.. (d)

Appears in 1 contract

Samples: Limited Liability Company Agreement

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.1(c)(iv) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI Section 5.1 have been tentatively made as if Section 6.03(d)(i5.1(c)(iii) hereof and this Section 6.03(d)(ii5.1(c)(iv) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Cornerstone Core Properties REIT, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account capital account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence penultimate: sentences of Treasury Regulation Sections §§ 1.704-2(g)(12(g)(l) and 1.704-2(i)(5), each such Member Member, shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii5.2(c) shall be made only if and to the extent that such Member would have a deficit Capital Account balance capital, account in excess of such sum after all other allocations provided for in this Article VI V have been made as if Section 6.03(d)(i) hereof and this Section 6.03(d)(ii5.2(c) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Spanco Industries, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company fiscal year which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 6.03(d)(ii6.02(d) shall be made only if and to the extent that such Member would have a deficit an Adjusted Capital Account balance Deficit in excess of such sum after all other allocations provided for in this Article VI have been made as if Section 6.03(d)(i6.02(c) hereof and this Section 6.03(d)(ii6.02(d) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Digital Cinema Destinations Corp.)

Gross Income Allocation. In the event any Member has a deficit ----------------------- Capital Account at the end of any Company fiscal year Year of the LLC which is in excess of the sum of (xi) the amount such Member is obligated to restore pursuant to any provision portion of this Agreement Agreement, and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company LLC income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii8.5(c) shall be made only if and to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article VI VIII have been made as if Section 6.03(d)(i8.5(b) hereof and this Section 6.03(d)(ii8.5(c) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Nucycle Therapy Inc)

Gross Income Allocation. In the event If any Member has a deficit Capital Account capital account at the end of any Company fiscal year which Tax Year, and if the deficit is in excess of the sum of (xi) the amount (if any) such Member is or becomes obligated to restore pursuant to any provision of this Agreement and (yii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentence sentences of Treasury Regulation Regulations Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.03(d)(ii) shall be made only if and to the extent that such Member would have a deficit Capital Account balance capital account in excess of such sum after all other allocations provided for in this Article VI have been made made, as if Section 6.03(d)(i) hereof Paragraph 7 of this Exhibit “D” and this Section 6.03(d)(ii) Paragraph were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (NGA Holdco, LLC)

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