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 Fiscal Year which is in excess of the sum of: (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III have been made as if Sections 3.3(c) and 3.3(d) were not in this Agreement.

Appears in 37 contracts

Samples: Member Control Agreement (Minnergy LLC), Member Control Agreement (Highwater Ethanol LLC), Operating Agreement (East Fork Biodiesel, LLC)

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Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not in this Agreement.

Appears in 27 contracts

Samples: Operating Agreement (Victory Renewable Fuels LLC), Operating Agreement (Western Iowa Energy, L.L.C.), Operating Agreement (Siouxland Renewable Holdings, LLC)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Fiscal Year taxable year which is in excess of the sum of: of (i) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d4.3(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III IV have been tentatively made as if Sections 3.3(cSection 4.3(b) and 3.3(dthis Section 4.3(c) were not in this Agreement.

Appears in 7 contracts

Samples: Company Agreement (BlueRiver Acquisition Corp.), Agreement (Rani Therapeutics Holdings, Inc.), Limited Liability Company Agreement (Rani Therapeutics Holdings, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Taxable Year which that is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision Section 10.3 of this Agreement; Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d4.3(e) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other special allocations provided for in this Article III Section 4.3 have been made as if Sections 3.3(cSection 4.3(c) and 3.3(dthis Section 4.3(e) were not in this Agreement.

Appears in 6 contracts

Samples: Operating Agreement (Bloom Energy Corp), Equity Capital Contribution Agreement (Bloom Energy Corp), Equity Capital Contribution Agreement (Bloom Energy Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Section 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not in this Agreement.

Appears in 6 contracts

Samples: Operating Agreement (Iowa Renewable Energy, LLC), Operating Agreement (Western Dubuque Biodiesel, LLC), Operating Agreement (Western Dubuque Biodiesel, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year Company fiscal year which is in excess of the sum of: of (i1) the amount such Member is obligated to restore pursuant to any provision of this Agreement; Agreement and (ii2) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) 14.7 shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Sections 14.4 through 14.10 have been tentatively made as if Sections 3.3(c) and 3.3(d) this Section 14.7 were not in this the Agreement.

Appears in 6 contracts

Samples: Limited Liability Company Operating Agreement (Decrane Aircraft Holdings Inc), Limited Liability Company Operating Agreement (Decrane Holdings Co), Limited Liability Company Operating Agreement (Decrane Holdings Co)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not in this Agreement.

Appears in 5 contracts

Samples: Operating Agreement (Little Sioux Corn Processors LLC), Operating Agreement, Operating Agreement (United Wisconsin Grain Producers LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year Company fiscal year which is in excess of the sum of: of (i) the amount any amounts such Member is obligated to restore pursuant to any provision of this Agreement; and , plus (ii) the amount such Member’s distributive share of Minimum Gain as of such date, plus such Member’s share of Member is deemed to be obligated to restore Minimum Gain determined pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and Regulation Section 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d7.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 7.3 have been made as if Sections 3.3(cmade, except assuming that Section 7.3(c) above and 3.3(dthis Section 7.3(d) were not contained in this Agreement.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Behringer Harvard Opportunity REIT I, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT I, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT I, Inc.)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Fiscal Year taxable year which is in excess of the sum of: of (i) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d4.3(e) shall be made only if and to the extent that such a Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III IV have been tentatively made as if Sections 3.3(cSection 4.3(b) and 3.3(dthis Section 4.3(e) were not in this Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (ZoomInfo Technologies Inc.), Limited Liability Company Agreement (Cano Health, Inc.), Limited Liability Company Agreement (ZoomInfo Technologies Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Allocation Year which is in excess of the sum of: (i) of the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(dParagraph 1(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in Section 3 of the Agreement and this Article III Appendix B have been made as if Sections 3.3(cParagraph 1(c) hereof and 3.3(dthis Paragraph 1(d) were not in part of this Agreement.Appendix B.

Appears in 3 contracts

Samples: Operating Agreement (Leucadia National Corp), Operating Agreement (Finova Group Inc), Operating Agreement (Leucadia National Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not in this the Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Kansas City Southern), Limited Liability Company Agreement (Norfolk Southern Corp), Limited Liability Company Agreement (Norfolk Southern Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which Company fiscal year or other shorter period that is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; restore, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) Subsection 3.3.4 shall be made only if and only to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III 3 have been tentatively made as if Sections 3.3(c) Subsection 3.3.3 hereof and 3.3(d) this Subsection 3.3.4 were not in this the Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Longview Clinic Operations Company, LLC), Limited Liability Company Agreement (Quorum Health Group Inc), Limited Liability Company Agreement (Quorum Health Group Inc)

Gross Income Allocation. In the event any Member has a deficit an Adjusted Capital Account Deficit at the end of any Fiscal Year which is in excess of the sum of: (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article III have been made as if Sections 3.3(c) and 3.3(d) were not in this Agreement.

Appears in 3 contracts

Samples: Operating Agreement (Nedak Ethanol, LLC), Operating Agreement (Nedak Ethanol, LLC), Operating Agreement (Nedak Ethanol, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year allocation year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Regulation §§1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d4.3(e) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III 4 have been made as if Sections 3.3(cSection 4.3(d) hereof and 3.3(d) were this subsection (e)were not in this the Agreement.

Appears in 3 contracts

Samples: Membership Interest Purchase Agreement (Rhove Real Estate 1, LLC), Membership Interest Purchase Agreement (Rhove Real Estate 1, LLC), Operating Agreement (Rhove Real Estate 1, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year Company fiscal year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(12(g) and 1.704-2(i)(5) of the Regulations), then in such circumstance each such Member shall will 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 3.3(d) shall 3.3.3 will be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections 3.3(c) Section 3.3.4 hereof and 3.3(d) this Section 3.3.3 were not in this the Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Life Time Fitness Inc), Operating Agreement (Life Time Fitness Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which that is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision the terms of this Agreement; Agreement or otherwise, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences sentence of each of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d7.3(d) shall be made only if and only to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 7.3 have been tentatively made as if Sections 3.3(cSection 7.3(c) and 3.3(dthis Section 7.3(d) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Tele Communications Inc /Co/), Limited Liability Company Agreement (Usa Networks Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount (if any) such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections §§ 1.704-2(g)(1) and 1.704-1.704- 2(i)(5) of the Regulations, then in such circumstance 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 3.3(dA2(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Appendix 1 have been made as if Sections 3.3(cSection A2(c) hereof and 3.3(dthis Section A2(d) were not in this the Agreement.

Appears in 2 contracts

Samples: Operating Agreement (World Tree Usa, LLC), Operating Agreement (World Tree Usa, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d9.3(d) shall be made only if and to the extent that such a Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III IX have been tentatively made as if Sections 3.3(cSection 9.3(c) and 3.3(dthis Section 9.3(d) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Theravance Inc), Limited Liability Company Agreement (Theravance Biopharma, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is treated as obligated to restore pursuant to any provision Regulations Section 1.704-1(b)(2)(ii)(c) by virtue of this Agreement; such Partner's guarantee or indemnity with respect to the Company Debt, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d3.7(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III have been made as if Sections 3.3(cSection 3.7(c) and 3.3(dthis Section 3.7(d) were not in this the Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Georgia Pacific Corp), Operating Agreement (Chesapeake Corp /Va/)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Allocation Year which that is in excess of the sum of: of (i) the amount any amounts such Member is obligated to restore pursuant to any provision the terms of this Agreement; the Agreement or otherwise, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) 3.6 of this Allocation Addendum shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Allocation Addendum have been made as if Sections 3.3(c) Section 3.5 and 3.3(d) Section 3.6 of this Allocation Addendum were not in this the Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Calpine Corp), Limited Liability Company Operating Agreement (Calpine Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704l.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not in this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Prairie Creek Ethanol LLC), Operating Agreement (Prairie Creek Ethanol LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of the Agreement or this Agreement; Exhibit C and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treas. Reg. §§1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) C.4.4 shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in the Agreement or this Article III Exhibit C have been made as if Sections 3.3(c) Section C.4.3 hereof and 3.3(d) this Section C.4.4 were not in this Agreement.Exhibit C.

Appears in 2 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Linn Energy, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Allocation Year which is in excess of the sum of: (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d3.3 (d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum amount after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not in this the Agreement.. (e)

Appears in 2 contracts

Samples: Operating Agreement (Pepco Holdings Inc), Contribution Agreement (Pepco Holdings Inc)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Fiscal Year taxable year which is in excess of the sum of: of (i) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d4.3(e) shall be made only if and to the extent that such a Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III IV have been tentatively made as if Sections 3.3(cSection 4.3(b) and 3.3(dthis Section 4.3(c) were not in this Agreement.

Appears in 2 contracts

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

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treasury Regulations Section 1.704-2(g)(12(g)(l) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) IV.E.3. shall be made only if and to the extent that such a Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III IV have been tentatively made as if Sections 3.3(c) Section IV.E.2. and 3.3(d) this Section IV.E.3. were not in this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Convergence, LLC), Operating Agreement (Convergence, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Regulation section 1.704-2(g)(1) and 1.704-1.704- 2(i)(5) of the Regulations), then in such circumstance 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 3.3(d3.5(c) shall be made only if and to the extent that such a Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in Section 3.4 (Allocations) and this Article III Section 3.5 have been tentatively made as if Sections 3.3(cSection 3.5(b) (Qualified Income Offset) and 3.3(dthis Section 3.5(c) were not in this Agreement.

Appears in 2 contracts

Samples: Investment Agreement (Krupp Family Limited Partnership 94), Investment Agreement (Krf3 Acquisition Co LLC)

Gross Income Allocation. In the event any Member has a deficit ----------------------- Capital Account at the end of any Fiscal Allocation Year which is in excess of the sum of: (i) of the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(dParagraph 1(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in Section 3 of the Agreement and this Article III Appendix B have been made as if Sections 3.3(cParagraph 1(c) hereof and 3.3(dthis Paragraph 1(d) were not in part of this Agreement.Appendix B.

Appears in 2 contracts

Samples: Operating Agreement (Finova Group Inc), Operating Agreement (Finova Group Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year fiscal year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , if any, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Reg. §§ 1.704-2(g)(12(g)(l) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d4.1(c)(iii) shall be made only if and only to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 4.1 have been tentatively made as if Sections 3.3(cthis Section 4.1(c)(iii) and 3.3(d) were was not in this the Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Magnachip Semiconductor LLC), Limited Liability Company Operating Agreement (Magnachip Semiconductor LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences sentence of Sections Regulations Section 1.704-2(g)(1) and the penultimate sentence of Regulations Section 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III V have been made as if Sections 3.3(c) Section 5.3.3 and 3.3(d) this Section were not in this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Shurgard Storage Centers Inc), Operating Agreement (Imperium Renewables Inc)

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Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) IV.E.3. shall be made only if and to the extent that such a Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III IV have been tentatively made as if Sections 3.3(c) Section IV.E.2. and 3.3(d) this Section IV.E.3. were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Convergence, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which that is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance each such Member shall will 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 3.3(d3.7(d) shall may be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III have been made as if Sections 3.3(cSection 3.7(c) and 3.3(dthis Section 3.7(d) were not in this the Agreement.

Appears in 1 contract

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

Gross Income Allocation. In the event any Member has a deficit Capital ----------------------- Account at the end of any Fiscal Allocation Year which that is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be ------------- made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not ----------- -------------- -------------- in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Forest Bank LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Allocation Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) hereof and this Section 3.3(d) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Arch of Wyoming LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Allocation Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections this Section 3.3(c) and this Section 3.3(d) were not in this the Agreement.;

Appears in 1 contract

Samples: Operating Agreement (Latzim Family LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year Period which is in excess of the sum of: of (i1) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d3.01(c)(iv) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3.01 have been tentatively made as if Sections 3.3(cthis Section 3.01(c)(iv) and 3.3(dSection 3.01(c)(iii) hereof were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of the Agreement or this Agreement; Exhibit A and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treas. Reg. §§1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) A.4.2 shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in the Agreement or this Article III Exhibit A have been made as if Sections 3.3(c) Section A.4.11 hereof and 3.3(d) this Section 2 were not in this Agreement.Exhibit A.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Jagged Peak Energy Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-1.704 2(g)(1) and 1.704-1.704 2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not in this Agreement.. (e)

Appears in 1 contract

Samples: Operating Agreement (Little Sioux Corn Processors LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(11.704 -2(g)(1) and 1.704-2(i)(5) of the Regulations1.704 -2(i)(5), then in such circumstance 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 3.3(d3.6(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III 3 have been made as if Sections 3.3(cSection 3.5(c) and 3.3(dthis Section 3.5(d) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Membership Purchase Agreement (Banyan Corp /Or/)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III have been made as if Sections 3.3(c) and 3.3(d) were not in this Agreement.

Appears in 1 contract

Samples: Member Control Agreement (Agassiz Energy, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(11.704‑2(g)(1) and 1.704-2(i)(51.704‑2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III have been made as if Sections 3.3(c) and 3.3(d) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Southwest Iowa Renewable Energy, LLC)

Gross Income Allocation. In the event any Member has a deficit ----------------------- Capital Account at the end of any Fiscal Allocation Year which that is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations, then in such circumstance 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 3.3(d) shall be -------------- made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III have been made as if Sections Section 3.3(c) and this Section 3.3(d) were not ----------- -------------- -------------- in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Forest Bank LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Taxable Year which that is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision Section 10.3 of this Agreement; Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulation Sections 1.704-2(g)(12 (g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d4.3(e) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other special allocations provided for in this Article III Section 4.3 have been made as if Sections 3.3(cSection 4.3(c) and 3.3(dthis Section 4.3(e) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Bloom Energy Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore restore, if any, pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1Treasury Regulations Section 1.704‑2(g)(1) and 1.704-2(i)(5) of the Regulations1.704‑2(i)(5), then in such circumstance 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 3.3(d9.3(d) shall be made only if and to the extent that such a Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III IX have been tentatively made as if Sections 3.3(cSection 9.3(c) and 3.3(dthis Section 9.3(d) were not in this Agreement.

Appears in 1 contract

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

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Fiscal Year accounting period which is in excess of the sum of: (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , if any, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences sentence of Treasury Regulations Sections 1.704l.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance each such Member shall be is 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 3.3(d4.3(c) shall be is made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 4.2 and Section 4.3 have been made as if Sections 3.3(cSection 4.3(b) hereof and 3.3(dthis Section 4.3(c) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Allocation Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 3 have been made as if Sections Section 3.3(c) hereof and this Section 3.3(d) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Arch Coal Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5) of 12 the Regulations, then in such circumstance 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 3.3(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III have been made as if Sections 3.3(c) and 3.3(d) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Homeland Energy Solutions LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of the Agreement or this Agreement; Exhibit A and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Treas. Reg. §§1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations), then in such circumstance 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 3.3(d) A.4.4 shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in the Agreement or this Article III Exhibit A have been made as if Sections 3.3(c) Section A.4.1 hereof and 3.3(d) this Section 2 were not in this Agreement.Exhibit A.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Jagged Peak Energy Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Fiscal Year fiscal year which is in excess of the sum of: of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement; , if any, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Sections Reg. §§ 1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations2(.0(5), then in such circumstance 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 3.3(d4.1(b)(iii) shall be made only if and only to the extent that such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article III Section 4.1 have been tentatively made as if Sections 3.3(cthis Section 4.1(b)(iii) and 3.3(d) were was not in this the Agreement.

Appears in 1 contract

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

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