Common use of Gross Income Allocation Clause in Contracts

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Member shall be allocated items of Company income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 have been tentatively made as if Section 5.4(c) and this Section 5.4(d) were not in this Agreement.

Appears in 10 contracts

Samples: Limited Liability Company Agreement (QR Energy, LP), Limited Liability Company Agreement (QR Energy, LP), Limited Liability Company Agreement (New Source Energy Partners L.P.)

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Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Member shall be allocated items of Company income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d5.3(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c5.3(c) and this Section 5.4(d5.3(d) were not in this Agreement.

Appears in 10 contracts

Samples: Limited Liability Company Agreement (BP Midstream Partners LP), Limited Liability Company Agreement (Oasis Midstream Partners LP), Limited Liability Company Agreement (Oasis Midstream Partners LP)

Gross Income Allocation. In the event that If any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit Adjusted Capital Account Deficit as quickly as possible; provided , provided, that an allocation pursuant to this Section 5.4(dparagraph (c) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in Section 5.1 and this Article 5 have Exhibit A had been tentatively made as if Section 5.4(cparagraphs (c) and this Section 5.4(d(d) were not included in this Agreement.

Appears in 7 contracts

Samples: Limited Liability Company Agreement (Clipper Realty Inc.), Limited Liability Company Agreement (Clipper Realty Inc.), Limited Liability Company Agreement (Clipper Realty Inc.)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Taxable Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit balance as quickly as possible; provided provided, that an allocation pursuant to this Section 5.4(d5.3(a) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum balance after all other allocations provided for in this Article 5 have been tentatively made as if Section 5.4(c) and this Section 5.4(d) were not in this Agreementmade.

Appears in 7 contracts

Samples: Limited Liability Company Agreement (Plains All American Pipeline Lp), Limited Liability Company Agreement (Plains All American Pipeline Lp), Limited Liability Company Agreement (Plains All American Pipeline Lp)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Taxable Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit balance as quickly as possible; provided provided, that an allocation pursuant to this Section 5.4(d5.3(e) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum balance after all other allocations provided for in this Article 5 have been tentatively made as if Section 5.4(c) and this Section 5.4(d) were not in this Agreementmade.

Appears in 6 contracts

Samples: Limited Liability Company Agreement (Natural Resource Partners Lp), Limited Liability Company Agreement (Natural Resource Partners Lp), Contribution Agreement (Natural Resource Partners Lp)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Member shall be allocated items of Company income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d5.3(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c5.3(c) and this Section 5.4(d5.3(d) were not in this Agreement.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Energy Transfer Equity, L.P.), Limited Liability Company Agreement (Energy Transfer Equity, L.P.), Limited Liability Company Agreement (Enterprise GP Holdings L.P.)

Gross Income Allocation. In the event that any a Member has an Adjusted Capital Account Deficit at the end of any Allocation Company Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d4.2(d) shall be made only if and to the extent that such Member Company would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section 4.2 have been tentatively made as if Section 5.4(c4.2(c) and this Section 5.4(d4.2(d) were not in this Agreement.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (MPG Office Trust, Inc.), Limited Liability Company Agreement (Regency Centers Corp), Limited Liability Company Agreement (Maguire Properties Inc)

Gross Income Allocation. In the event that any Common Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Common Member shall be allocated items of Company income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d5.3(d) shall be made only if and to the extent that such Common Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c5.3(c) and this Section 5.4(d5.3(d) were not in this Agreement.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Oasis Midstream Partners LP), Contribution and Simplification Agreement (Oasis Midstream Partners LP), Contribution and Simplification Agreement (Oasis Petroleum Inc.)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Member shall be allocated items of Company income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article ARTICLE 5 have been tentatively made as if Section 5.4(c) and this Section 5.4(d) were not in this Agreement.

Appears in 4 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Mid-Con Energy Partners, LP), Limited Liability Company Agreement (Mid-Con Energy Partners, LP)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Yeartaxable year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d9.7(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 IX have been tentatively made as if Section 5.4(c9.7(c) and this Section 5.4(d9.7(d) were not in this the Agreement.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (PLM Equipment Growth & Income Fund Vii), Limited Liability Company Agreement (PLM Equipment Growth Fund V), Limited Liability Company Agreement (PLM Equipment Growth Fund V)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation YearCompany fiscal year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d8.2(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section 8.2 have been tentatively made as if Section 5.4(c8.2(c) and this Section 5.4(d8.2(d) were not in this Agreement.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Trilogy International Partners Inc.), Limited Liability Company Agreement (SG Enterprises, II LLC), Limited Liability Company Agreement (Trilogy International Partners Inc.)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, then each such Member shall be specially allocated items of the Company income and gain in the amount of such deficit as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.3(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 have been tentatively made as if Section 5.4(c5.3(c) and this Section 5.4(d5.3(d) were not in this Agreementapplicable.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Carlyle Secured Lending, Inc.), Limited Liability Company Agreement (TCG Bdc, Inc.), Limited Liability Company Agreement (Carlyle GMS Finance, Inc.)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Taxable Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit balance as quickly as possible; provided that provided, that, an allocation pursuant to this Section 5.4(d5.4(a) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum balance after all other allocations provided for in this Article 5 have been tentatively made as if Section 5.4(c) and this Section 5.4(d) were not in this Agreementmade.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Paa Natural Gas Storage Lp), Limited Liability Company Agreement (Paa Natural Gas Storage Lp), Limited Liability Company Agreement (Paa Natural Gas Storage Lp)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, then each such Member shall be specially allocated items of Company income and gain in the amount of such deficit as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.3(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c) and this Section 5.4(d5.3(d) were not in this Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Hanover Capital Mortgage Holdings Inc), Limited Liability Company Agreement (Hanover Capital Mortgage Holdings Inc), Operating Agreement (Matrix Bancorp Inc)

Gross Income Allocation. In the event that any a Member has an Adjusted Capital Account Deficit at the end of any Allocation Yeartaxable year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit Adjusted Capital Account Deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d) clause shall be made only if and to the extent that such the Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section A.4 have been tentatively made as if Section 5.4(c) and this Section 5.4(dA.4.2(d) were not in this AgreementAppendix.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Martin Midstream Partners Lp), Limited Liability Company Agreement (Martin Midstream Partners Lp), Limited Liability Company Agreement (Martin Midstream Partners Lp)

Gross Income Allocation. In the event that any Member has an a deficit balance in its Adjusted Capital Account Deficit at the end of any Allocation YearPeriod, each such Member shall be allocated items of Company income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d4.2(c) shall be made only if and to the extent that such the Member would have an a deficit balance in its Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 IV have been tentatively made as if Section 5.4(c4.2(b) and this Section 5.4(d4.2(c) were not in this LLC Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (APT Sunshine State LLC), Limited Liability Company Agreement (Resource America Inc)

Gross Income Allocation. In the event that addition, if any Member has an Adjusted Capital Account Deficit at the end of any Allocation YearTaxable Year (or other relevant period), each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d4.3(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 IV have been tentatively made as if Section 5.4(c) and this Section 5.4(d4.3(d) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Winvest Group LTD), Limited Liability Company Agreement (Textura Corp)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d6.4(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Agreement have been tentatively made as if Section 5.4(c6.4(c) hereof and this Section 5.4(d6.4(d) were not in this Agreement.

Appears in 2 contracts

Samples: Employment Agreement (Manhattan Bancorp), Operating Agreement (Manhattan Bancorp)

Gross Income Allocation. In the event that If any Member has an Adjusted Capital Account Deficit at the end of any Allocation YearCompany taxable year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.2(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c5.2(c) and this Section 5.4(d5.2(d) were not in this the Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (New Home Co LLC), Limited Liability Company Agreement (New Home Co LLC)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit Adjusted Capital Account Deficit as quickly as possible; provided that provided, an allocation pursuant to this Section 5.4(d5.01(b)(iv) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section 5.01 have been tentatively made as if Section 5.4(c5.01(b)(iii) and this Section 5.4(d5.01(b)(iv) were not in this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Noble Environmental Power LLC), Limited Liability Company Agreement (Noble Environmental Power LLC)

Gross Income Allocation. In the event that that, despite Section 5.3, any Member has an Adjusted Capital Account Deficit at the end of any Allocation Yearfiscal year, each such that Member shall be specially allocated items of Company income and gain in the amount of Net Income (or gross income) to eliminate such deficit as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d) 5.7.2 shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 have been tentatively made as if Section 5.4(c) 5.7.1 and this Section 5.4(d) 5.7.2 were not in this the Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Cornerstone Realty Fund LLC), Operating Agreement (Cornerstone Realty Fund LLC)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Yearfiscal year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.2(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article Section 5 have been tentatively made as if Section 5.4(c5.2(c) and this Section 5.4(d5.2(d) were not in this the Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Mechanical Technology Inc), Limited Liability Company Agreement (Mechanical Technology Inc)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, then each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.02(d) shall be made only if and only to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c) and this Section 5.4(d5.02(d) were not in this Agreement.

Appears in 1 contract

Samples: First American Financial Corp

Gross Income Allocation. In the event that any a Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit as quickly as possible; , provided that an any allocation pursuant to under this Section 5.4(d) B.5.4 shall be made only if and to the extent that such a Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Exhibit B have been tentatively made as if Section 5.4(c) and this Section 5.4(d) B.5.4 were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (China Hydroelectric Corp)

Gross Income Allocation. In the event that any Member has an Adjusted ----------------------- Capital Account Deficit at the end of any Allocation Fiscal Year, then each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.02(d) shall be made only if and only to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c) and this Section 5.4(d5.02(d) were not in this Agreement.

Appears in 1 contract

Samples: First American Financial Corp

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d) D.4.4 shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Agreement or this Exhibit D have been tentatively made as if Section 5.4(c) D.4.3 hereof and this Section 5.4(d) D.4.4 were not in this Agreement.Exhibit D.

Appears in 1 contract

Samples: Gas Processing Agreement (Western Gas Partners LP)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such that Member shall be specially allocated items of Company income and gain in the amount of such deficit Adjusted Capital Account Deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d4.2(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Agreement have been tentatively made as if Section 5.4(cthis Subsection 4.2(d) and this Section 5.4(dthe preceding Subsection 4.2(c) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (A-Power Energy Generation Systems, Ltd.)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Member shall be specially allocated items of Company Plan income and gain in the amount of such deficit excess as quickly as possible; provided that an allocation pursuant to this Section 5.4(d5.3(c) shall be made only if and to the extent that such Member would have an Adjusted a deficit Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c5.3(b) and this Section 5.4(d5.3(c) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Viant Technology Inc.)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, then each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.02(d) shall be made only if and only to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c) and this Section 5.4(d5.02(d) were not in this Agreement.

Appears in 1 contract

Samples: Operating Agreement (First American Corp)

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Gross Income Allocation. In the event that addition, if any Member has an Adjusted Capital Account Deficit at the end of any Allocation YearTaxable Year (or other relevant period), each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d4.3(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 ARTICLE IV have been tentatively made as if Section 5.4(c) and this Section 5.4(d4.3(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation YearCompany Year or other applicable period, each such Member shall be specially allocated items of Company gross income and gain in the amount of such deficit Adjusted Capital Account Deficit as quickly as possible; provided provided, however, that an allocation pursuant to this Section 5.4(d4.3(f) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section 4.3 have been tentatively made as if Section 5.4(c) and this Section 5.4(d4.3(f) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ashford Hospitality Trust Inc)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation YearCompany taxable year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(dB.5(4) shall be made only if and only to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Agreement have been tentatively made as if Section 5.4(cB.5(3) and this Section 5.4(dB.5(4) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Elk Horn Coal Co LLC)

Gross Income Allocation. In the event that any Member has an Adjusted a Capital Account Deficit at the end of any Allocation Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit Adjusted Capital Account Deficit as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.1(c)(ii) shall be made only if and only to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section 5.1(c) have been tentatively made as if this Section 5.4(c5.1(c)(ii) and this Section 5.4(d5.1(c)(i) hereof were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Philadelphia Energy Solutions Inc.)

Gross Income Allocation. In the event that any a Member has an Adjusted Capital Account Deficit at the end of any Allocation Company Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; provided , provided, that an allocation pursuant to this Section 5.4(d4.2(d) shall be made only if and to the extent that such Member Company would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section 4.2 have been tentatively made as if Section 5.4(c4.2(c) and this Section 5.4(d4.2(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (CBL & Associates Limited Partnership)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.2(d) shall be made only if and only to the extent that such Member Person would have an Adjusted a deficit Capital Account Deficit in excess of such sum after all other allocations provided for in this Article Section 5 have been tentatively made as if Section 5.4(c) and this Section 5.4(d5.2(d) were not in this the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Generation Income Properties, Inc.)

Gross Income Allocation. In the event that any Member has an ----------------------- Adjusted Capital Account Deficit at the end of any Allocation Taxable Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit balance as quickly as possible; provided provided, that an allocation pursuant to this Section 5.4(d5.3(a) shall be made only if and to the extent that -------------- such Member would have an Adjusted Capital Account Deficit in excess of such sum balance after all other allocations provided for in this Article 5 have been tentatively made as if Section 5.4(c) and this Section 5.4(d) were not in this Agreement.made. ---------

Appears in 1 contract

Samples: Limited Liability Company Agreement (Plains All American Pipeline Lp)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Yeardeficit, each such Member shall be allocated items of Company income and gain in the an amount of and manner sufficient to eliminate such Member’s Adjusted Capital Account deficit as quickly as possible; provided provided, that an allocation pursuant to this Section 5.4(d‎Section 4.2(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum deficit after all other allocations provided for in this Article 5 ‎Section 4.2 have been tentatively made as if Section 5.4(c4.2(c) and this Section 5.4(d‎Section 4.2(d) were not in this Agreement.

Appears in 1 contract

Samples: Membership Interest Purchase Agreement (XCel Brands, Inc.)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Yearfiscal year, each such Member shall be allocated items of Company LLC income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d) 5.4.2 shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 V have been tentatively made as if Section 5.4(c) 5.4.1 and this Section 5.4(d) 5.4.2 were not in this Operating Agreement.

Appears in 1 contract

Samples: Operating Agreement (Spring Break '83 Production, LLC)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d5.1(d)(ii) shall be made only if and only to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section 5.1(d) have been tentatively made as if this Section 5.4(c5.1(d)(ii) and this Section 5.4(d5.1(d)(i) hereof were not in this the Agreement.

Appears in 1 contract

Samples: License Agreement (Viamet Pharmaceuticals Holdings LLC)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation YearCompany fiscal year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(dB.5(4) shall be made only if and only to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Agreement have been tentatively made as if Section 5.4(cB.5(3) and this Section 5.4(dB.5(4) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Rodman & Renshaw Capital Group, Inc.)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Member shall will be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; provided that provided, however, an allocation pursuant to under this Section 5.4(d6.2(d) shall will be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section 6.2 have been tentatively made as if Section 5.4(c6.2(c) and this Section 5.4(d6.2(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Exco Resources Inc)

Gross Income Allocation. In the event that any Member has an a deficit ----------------------- Adjusted Capital Account Deficit at the end of any Allocation Company Fiscal Year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(d4.3(d) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit deficit in excess of such sum amount after all other allocations provided for in this Article 5 Section 4.3 have been tentatively made as if Section 5.4(c4.3(c) and this Section 5.4(d4.3(d) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Onepoint Communications Corp /De)

Gross Income Allocation. In the event that any If a Member has an Adjusted Capital Account Deficit at the end of any Allocation YearAdjustment Period, each such Member items of Gross Income shall be allocated items of Company income and gain to the Member in the amount of and in the manner sufficient to eliminate such deficit as quickly as possible; provided provided, however, that an allocation pursuant to under this Section 5.4(d6.4(d) shall be made only if and to the extent that such the Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Sections 6.1-6.4 have been tentatively made as if Section 5.4(c6.4(c) and this Section 5.4(d6.4(d) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Invesco Real Estate Income Trust Inc.)

Gross Income Allocation. In the event that any a Member has an Adjusted a Capital Account Deficit deficit at the end of any Allocation YearTax Year or other period, each such Member shall be specially allocated items of Company gross income and gain in the an amount of such deficit as quickly as possible; provided that an any allocation pursuant to under this Section 5.4(d5.3(b)(iv) shall be made only if and to the extent that such a Member would have an Adjusted a Capital Account Deficit in excess of such sum deficit after all other allocations provided for in this Article 5 Section 5.3 have been tentatively made as if Section 5.4(c5.3(b)(iii) and this Section 5.4(d5.3(b)(iv) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Evolve Transition Infrastructure LP)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation Year, each such Member shall be allocated items of Company income and gain in the amount of such deficit as quickly as possible; provided that an allocation pursuant to this Section 5.4(d6.03(b) shall be made only if and to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 VI have been tentatively made as if Section 5.4(c6.03(b) and this Section 5.4(d6.03(c) were not in this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (BRT Realty Trust)

Gross Income Allocation. In the event that any Member has an Adjusted Capital Account Deficit at the end of any Allocation YearCompany taxable year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit excess as quickly as possible; , provided that an allocation pursuant to this Section 5.4(dArticle 10.2(c)(4) shall be made only if and only to the extent that such Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Agreement have been tentatively made as if Section 5.4(cArticle 10.2(c)(3) and this Section 5.4(dArticle 10.2(c)(4) were not in this the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Noble Advisors, LLC)

Gross Income Allocation. In the event that any a Member has an Adjusted Capital Account Deficit at the end of any Allocation Yeartaxable year, each such Member shall be specially allocated items of Company income and gain in the amount of such deficit Adjusted Capital Account Deficit as quickly as possible; provided provided, that an allocation pursuant to this Section 5.4(d) clause shall be made only if and to the extent that such the Member would have an Adjusted Capital Account Deficit in excess of such sum after all other allocations provided for in this Article 5 Section A.4 have been tentatively made as if Section 5.4(c) and this Section 5.4(dA.4.2(d) were not in this AgreementAppendix.

Appears in 1 contract

Samples: Operating Agreement

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