Common use of Gross Income Allocation Clause in Contracts

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(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 7 have been tentatively made as if this Section 7.3(d) and Section 7.3(c) were not in the Agreement.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (CNL Healthcare Properties, Inc.), Limited Liability Company Agreement (CNL Healthcare Trust, Inc.), Limited Liability Company Agreement (CNL Healthcare Properties, Inc.)

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Gross Income Allocation. In the event any Member has a deficit balance in such Member's Capital Account at the end of (as determined after crediting such Capital Account for any Company Fiscal Year which is in excess of the sum of (i) the amount amounts that such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such Member or is deemed to be obligated to restore pursuant to Treasury Regulations Sections Section 1.704-2(g)(1) and 1.704-2(i)(52), each such Member shall be specially allocated items of Company income and gain shall be specially allocated to such Member in the an amount and manner sufficient to eliminate such deficit (as so determined) of such excess Member's Capital Account as quickly as possible, ; provided that an allocation pursuant to this Section 7.3(d7.2(c)(iv) shall be made only if and to the extent that such Member would have a deficit such Capital Account in excess of such sum deficit (as so determined) after all other allocations provided for in this Article 7 Section 7.2 (other than Section 7.2(c)(iii)) have been tentatively made as if this Section 7.3(d) and Section 7.3(c7.2(c)(iv) were not in the this Agreement.

Appears in 5 contracts

Samples: Limited Liability Company Operating Agreement (Secured Real Estate Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC), Limited Liability Company Operating Agreement (Secured Real Estate Income Fund II, LLC)

Gross Income Allocation. In the event If any Member has a deficit Capital Account balance at the end of any Company Fiscal Year which that is in excess of the sum of (i) the amount that such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such that the Member is deemed to be obligated to restore pursuant to Regulations the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5(i)(5), each such that 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 7.3(d4.3(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 7 IV have been tentatively made as if this Section 7.3(dSections 4.3(c) and Section 7.3(c4.3(d) were not in the this Agreement.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (HLTH Corp), Limited Liability Company Agreement (Emdeon Corp), Limited Liability Company Agreement (Emdeon Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Taxable Year which that is in excess of the sum of (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 Treasury Regulations Sections 1.704-2(g)(11.704‑2(g)(1) and 1.704-2(i)(51.704‑2(i)(5), each such Member shall be specially allocated items Company Items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 7.3(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 7 Section 4.3 have been tentatively made as if Section 4.3(d) and this Section 7.3(d) and Section 7.3(c4.3(e) were not in the this Agreement.

Appears in 5 contracts

Samples: Liability Company Agreement (NRG Yield, Inc.), Limited Liability Company Agreement (NRG Yield, Inc.), Limited Liability Company Agreement (Clearway Energy LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which that is in excess of the sum of (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), 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 7.3(d10.02(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 7 10 have been tentatively made as if Section 10.02(c) hereof and this Section 7.3(d) and Section 7.3(c10.02(d) were not in the Agreement.

Appears in 4 contracts

Samples: Operating Agreement (Bluerock Residential Growth REIT, Inc.), Operating Agreement (Bluerock Residential Growth REIT, Inc.), Operating Agreement (Bluerock Residential Growth REIT, Inc.)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company Fiscal Year fiscal year which is in excess of the sum of (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 Regulations Sections Treasury Regulation Section 1.704-2(g)(1) and 1.704-2(i)(5)2, 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 7.3(d3.4(c) 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 7 III have been tentatively made as if this Section 7.3(d) and Section 7.3(c3.4(c) were not in the this Agreement.

Appears in 4 contracts

Samples: Company Agreement (BioFuel Energy Corp.), Limited Liability Company Operating Agreement (BioFuel Energy Corp.), Limited Liability Company Operating Agreement (BioFuel Energy Corp.)

Gross Income Allocation. In the event any If a Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the Company that exceeds the sum of (i) the amount such the Member is obligated to restore pursuant to any provision of this Agreement restore, and (ii) the amount such the Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), then each such Member shall be specially allocated items of Company income and gain of the Company in the amount of such the excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d7.4(b) shall be made only if and only to the extent that such the Member would have a deficit Capital Account in excess of such that sum after all other allocations provided for in this Article 7 have been tentatively made as if this without considering Section 7.3(d7.4(a) and Section 7.3(c) were not in the Agreementor 7.4(b).

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Ranger Energy Services, Inc.), Limited Liability Company Agreement (Ranger Energy Services, Inc.), Limited Liability Company Agreement (Ranger Energy Services, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Allocation Year which is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision the penultimate sentence of this Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to each of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.3(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 7 4 have been tentatively made as if Section 4.3(c) hereof and this Section 7.3(d) and Section 7.3(c4.3(d) were not in the this Amended Agreement.

Appears in 4 contracts

Samples: Operating Agreement (Macquarie Infrastructure CO LLC), Operating Agreement (Macquarie Infrastructure CO LLC), Operating Agreement (Macquarie Infrastructure CO Trust)

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company Fiscal Year which that is in excess of the sum of (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 Regulations Sections the penultimate sentences of Treas. Reg. §§1.704-2(g)(1) and 1.704-2(i)(5(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) 5.05 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 7 5 have been tentatively made as if Section 5.04 hereof and this Section 7.3(d) and Section 7.3(c) 5.05 were not in the Agreement.

Appears in 3 contracts

Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement

Gross Income Allocation. In the event Notwithstanding Section 4.1, if any Member has a deficit Capital Account at the end of any Company Fiscal Year tax year which is in excess of the sum of (ia) the amount such Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (iib) the amount such the Member is deemed to be obligated to restore (pursuant to Regulations Sections 1.704-2(g)(1the penultimate sentences of Treas. Reg. §§ 1.704–2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company any gross income and gain gains) in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) 5.5 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 7 Sections 4 and 5 and Exhibit B have been tentatively made as if Section B.3 and this Section 7.3(d) and Section 7.3(c) B.4 were not in the Agreement.

Appears in 3 contracts

Samples: Notice, www.dietrichlaw.com, s3.amazonaws.com

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company Fiscal Year which that is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such Member is Agreement, or are deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), respectively, each such Member shall be specially allocated items of Company gross income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d10.5(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 7 X have been tentatively made as if Section 10.5(c) and this Section 7.3(d) and Section 7.3(c10.5(d) were not in the this Agreement.

Appears in 3 contracts

Samples: Contribution Agreement (Oge Energy Corp.), Contribution Agreement (Energy Transfer Equity, L.P.), Contribution Agreement (Energy Transfer Partners, L.P.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year taxable year which is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision the penultimate sentences of this Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 7.3(d4.4(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 7 4 have been tentatively made as if Section 4.4(c) and this Section 7.3(d) and Section 7.3(c4.4(d) were not in the this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (American Retirement Corp), Limited Liability Company Agreement (American Retirement Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Regulations the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.02(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 7 IV have been tentatively made as if Section 4.02(d) hereof and this Section 7.3(d) and Section 7.3(c4.02(e) were not in the Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Hallmark Financial Services Inc), Operating Agreement (Hallmark Financial Services Inc)

Gross Income Allocation. In the event any Member has a deficit balance in its Capital Account at the end of any Company Fiscal Year which year that is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision the penultimate sentences of this Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.5(d) shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account in excess of such sum the amount the Member is obligated to restore after all other allocations provided for in this Article 7 IV have been tentatively made as if Section 4.5(c) and this Section 7.3(d) and Section 7.3(c4.5(d) were not in the this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Motorsport Gaming Us LLC), Limited Liability Company Agreement (Motorsport Gaming Us LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) A.10 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 Article VI and this Article 7 Appendix A have been tentatively made as if this Section 7.3(d) A.10 and Section 7.3(c) A.9 hereof were not in the this Agreement.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Gross Income Allocation. In the event any Member has a deficit balance in such Member’s Capital Account at the end of (as determined after crediting such Capital Account for any Company Fiscal Year which is in excess of the sum of (i) the amount amounts that such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such Member or is deemed to be obligated to restore pursuant to Treasury Regulations Sections Section 1.704-2(g)(1) and 1.704-2(i)(52), each such Member items of Membership income and gain shall be specially allocated items of Company income to such Member in an amount and gain in the amount manner sufficient to eliminate such deficit (as so determined) of such excess Member’s Capital Account as quickly as possible, ; provided that an allocation pursuant to this Section 7.3(d5.2(c)(iv) shall be made only if and to the extent that such Member would have a deficit such Capital Account in excess of such sum deficit (as so determined) after all other allocations provided for in this Article 7 Section 5.2 (other than Section 5.2(c)(iii)) have been tentatively made as if this Section 7.3(d) and Section 7.3(c5.2(c)(iv) were not in the this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Iron Bridge Mortgage Fund LLC), Operating Agreement (Iron Bridge Mortgage Fund LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Regulations the penultimate sentences of Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that however, an allocation pursuant to this Section 7.3(d12.03(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 7 XII have been tentatively made as if Section 12.03(c) and this Section 7.3(d) and Section 7.3(c12.0(d) were not in the this Agreement.

Appears in 2 contracts

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

Gross Income Allocation. In the event any Member has a deficit in its Capital Account at the end of any Company 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 Agreement, and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations the penultimate sentences of Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possibleexcess, provided that an allocation pursuant to this Section 7.3(d) shall be made only if and to the extent that such Member would have a deficit in its Capital Account in excess of such sum after all other allocations provided for in this Article 7 IV have been tentatively made as if Section 4.05(c) hereof and this Section 7.3(d) and Section 7.3(c) were not in the this Agreement.

Appears in 2 contracts

Samples: Operating Agreement (China Direct Trading Corp), Operating Agreement (China Direct Trading Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Regulations Sections sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d6.3(f) 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 7 Section 6.3 have been tentatively made as if this Section 7.3(d6.3(f) and Section 7.3(c6.3(e) were not in the this Agreement.

Appears in 2 contracts

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

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company Fiscal Year which fiscal year that is in excess of the sum of (i) the amount such the Member is obligated to restore pursuant to any provision of this Operating Agreement and (ii) the amount such the Member is deemed to be obligated to restore pursuant to Regulations Sections the penultimate sentences of Treas Reg 1.704-2(g)(1) and 1.704-2(i)(5(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such the excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) section 5.2.4 shall be made only if and to the extent that such the Member would have a deficit Capital Account in excess of such this sum after all other allocations provided for in this Article 7 article V have been tentatively made as if section 5.2.3 and this Section 7.3(d) and Section 7.3(c) section 5.2.4 were not in the Operating Agreement.

Appears in 2 contracts

Samples: Operating Agreement, Operating Agreement

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision Treasury Regulations Section 1.704-1(b)(2)(ii)(c) or the penultimate sentences of this Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that an allocation pursuant to this Section 7.3(dParagraph 1.4(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 7 Exhibit C have been tentatively made as if this Section 7.3(dParagraph 1.4(c) and Section 7.3(cthis Paragraph 1.4(d) were not in the Agreement.part of this Exhibit C.

Appears in 2 contracts

Samples: Employment Agreement (Simon Worldwide Inc), Employment Agreement (Simon Worldwide Inc)

Gross Income Allocation. In the event any that a Member has a deficit Capital Account at the end of any Company Fiscal Year fiscal year which is in excess of the sum of (i) the amount such the Member is obligated to restore pursuant to any provision of this Agreement Operating Agreement, and (ii) the amount such the Member is deemed to be obligated to restore pursuant to Regulations Sections Treas. Reg. Sec. 1.704-2(g)(12(g) and 1.704-2(i)(5(i)(5), each such the Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) paragraph shall be made only if and to the extent that such the Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article 7 4 have been tentatively made as if this Section 7.3(d) and Section 7.3(cParagraph 4.03(d) were not in the this Operating Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Accelera Innovations, Inc.), Operating Agreement (Accelera Innovations, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account deficit at the end of any Company Fiscal Year taxable 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 restore, and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections the penultimate sentence of Reg. ss. 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d5.03(c) shall be made only if and to the extent that any such Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article 7 V have been tentatively made as if this Section 7.3(d5.03(c) hereof and Section 7.3(c5.03(d) were not in the Agreement.

Appears in 2 contracts

Samples: Operating Agreement (Public Service Co of Oklahoma), Operating Agreement (Public Service Co of Oklahoma)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Regulations the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that however, an allocation pursuant to this Section 7.3(d12.03(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 7 XII have been tentatively made as if Section 12.03(c) and this Section 7.3(d) and Section 7.3(c12.0(d) were not in the this Agreement.

Appears in 2 contracts

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

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (i) the i)the amount such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the ii)the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(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 7 have been tentatively made as if this Section 7.3(d) and Section 7.3(c) were not in the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (CNL Healthcare Trust, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (i) the amount (if any) 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 Regulations the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) 4.2.4 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 this Article 7 Section 4.2 have been tentatively made as if Section 4.2.3 and this Section 7.3(d) and Section 7.3(c) 4.2.4 were not in the this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Emmis Communications Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year fiscal year which is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement Member's deficit restoration obligation, if any, and (ii) the amount amount, if any, such Member is deemed to be obligated to restore pursuant to Regulations the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Allocation Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.3(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 7 IV have been tentatively made as if Section 4.3(c) hereof and this Section 7.3(d) and Section 7.3(c4.3(d) were not in the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (M I Schottenstein Homes Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account balance at the end of any Company Fiscal Year which fiscal year that 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 Regulations the .penultimate sentences of Sections 1.704-2(g)(12(g)(1)(ii) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) 9.4 shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article 7 IX have been tentatively made as if Section 9.3 and this Section 7.3(d) and Section 7.3(c) 9.4 were not in the this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Lbo Capital Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Tax 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 Agreement, and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections the penultimate sentences of sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.2(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 7 IV have been tentatively made as if this Section 7.3(d4.2(c) and Section 7.3(c4.2(d) were not in the this Agreement.

Appears in 1 contract

Samples: Lease Agreement (Health Management Associates Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which fiscal year that is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement and restore, (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections §§ 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.2(d) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article 7 4 have been tentatively made as if Section 4.2(c) hereof and this Section 7.3(d) and Section 7.3(c4.2(d) were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (155 East Tropicana, LLC)

Gross Income Allocation. In the event any Member has a deficit balance in such Member's Capital Account at the end of (as determined after crediting such Capital Account for any Company Fiscal Year which is in excess of the sum of (i) the amount amounts that such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such Member or is deemed to be obligated to restore pursuant to Treasury Regulations Sections Section 1.704-2(g)(1) and 1.704-2(i)(52), each such Member items of Membership income and gain shall be specially allocated items of Company income to such Member in an amount and gain in the amount manner sufficient to eliminate such deficit (as so determined) of such excess Member's Capital Account as quickly as possible, ; provided that an allocation pursuant to this Section 7.3(d5.2(b)(iv) shall be made only if and to the extent that such Member would have a deficit such Capital Account in excess of such sum deficit (as so determined) after all other allocations provided for in this Article 7 Section 5.2 (other than Section 5.2(b)(iii)) have been tentatively made as if this Section 7.3(d) and Section 7.3(c5.2(b)(iv) were not in the this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Iron Bridge Mortgage Fund LLC)

Gross Income Allocation. In the event any that a Member has a deficit Capital Account at the end of any Company Fiscal Year fiscal year which is in excess of the sum of (i) the amount such the Member is obligated to restore pursuant to any provision of this Agreement Agreement, and (ii) the amount such the Member is deemed to be obligated to restore pursuant to Regulations Sections Reg. Secs. 1.704-2(g)(12(g) and 1.704-2(i)(5(i)(5), each such the Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.3(d) shall be made only if and to the extent that such the Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article 7 4 have been tentatively made as if this Section 7.3(d) and Section 7.3(c4.3(d) were not in the this Agreement.

Appears in 1 contract

Samples: Equipment Purchase Agreement (Ecolocap Solutions Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which fiscal year that is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement and restore, (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.2(d) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article 7 4 have been tentatively made as if Section 4.2(c) and this Section 7.3(d) and Section 7.3(c4.2(d) were not in 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 Company Fiscal Year fiscal year which is in excess of the sum of (ia) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (iib) 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), 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 7.3(d) 2.4 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 this Article 7 5 and this Exhibit "B" have been tentatively made as if Section 2.3 hereof and this Section 7.3(d) and Section 7.3(c) 2.4 were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Thermoenergy Corp)

Gross Income Allocation. In the event Ix xxx xxent any Member has a deficit Capital Account at the end of any Company 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 Agreement, and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) Subsection 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 Sections 6.1, 6.2 and 6.3 of the Agreement and this Article 7 Section 1.2 have been tentatively made as if this Section 7.3(dwithout giving effect to Subsection 1.2(c) and Section 7.3(c) were not in the Agreementthis Subsection 1.2(d).

Appears in 1 contract

Samples: Operating Agreement (Siena Technologies, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which fiscal year that is in excess of the sum of (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 Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Treasury Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d5.03(d) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article 7 V have been tentatively made as if Section 5.03(c) hereof and this Section 7.3(d) and Section 7.3(c5.03(d) were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Maverick Oil & Gas, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which fiscal year that is in excess of the sum of (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)(12(g)(l) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d5.2(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 7 V have been tentatively made as if Section 5.2(c) hereof and this Section 7.3(d) and Section 7.3(c5.2(d) were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (PAETEC iTel, L.L.C.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which Fund fiscal year that is in excess of the sum 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), each such Member shall be specially allocated items of Company Fund income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d6.4(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 7 6 have been tentatively made as if Section 6.4(c) hereof and this Section 7.3(d) and Section 7.3(c6.4(d) were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Southeast Interactive Technology Fund I LLC)

Gross Income Allocation. In the event that any Member has a deficit Capital Account at the end of any Company Fiscal Year which that is in excess of the sum of (i1) the amount that such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such that the Member is deemed to be obligated to restore pursuant to Regulations the penultimate sentence of Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5(1)(5), each such that 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 7.3(d2(f) of Appendix A 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 7 Appendix A have been tentatively made as if this Section 7.3(dSections 2(e) and Section 7.3(c2(f) of Appendix A were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Biolabs Inc)

Gross Income Allocation. In the event any Member has a deficit balance in its Capital Account at the end of any Company Fiscal Year year which is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision the penultimate sentences of this Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company Fund income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d‎Section 4.3(d) shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account in excess of such sum the amount the Member is obligated to restore after all other allocations provided for in this Article 7 ‎ARTICLE 4 have been tentatively made as if this Section 7.3(d‎Section 4.3(c) and Section 7.3(cthis ‎Section 4.3(d) were not in the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Capitala Finance Corp.)

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Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year fiscal year which is in excess of the sum of (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 Section 1.704-2(g)(1) and Section 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an any allocation pursuant to this Section 7.3(dSubparagraph 5.1.B(IV) 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 7 Subparagraph 5.1.B have been tentatively made as if this Section 7.3(dSubparagraph 5.1.B(IV) and Section 7.3(cSubparagraph 5.1.B(III) were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (American Shared Hospital Services)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d8.05(d) shall be made only if and any 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 7 VIII have been tentatively made as if this Section 7.3(d8.05(d) and Section 7.3(c8.05(c) hereof were not in the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Falcon Holding Group Lp)

Gross Income Allocation. In the event any that a Member has a deficit Capital Account at the end of any Company Fiscal Year fiscal year which is in excess of the sum of (i) the amount such the Member is obligated to restore pursuant to any provision of this Agreement Operating Agreement, and (ii) the amount such the Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1Treas. Reg. Sec. 1.704‑2(g) and 1.704-2(i)(5(i)(5), each such the Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) paragraph shall be made only if and to the extent that such the Member would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article 7 4 have been tentatively made as if this Section 7.3(d) and Section 7.3(c4.03(d) were not in the this Operating Agreement.

Appears in 1 contract

Samples: Operating Agreement

Gross Income Allocation. In the event any Member has a deficit balance in such Member’s Capital Account at the end of (as determined after crediting such Capital Account for any Company Fiscal Year which is in excess of the sum of (i) the amount amounts that such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such Member or is deemed to be obligated to restore pursuant to Treasury Regulations Sections Section 1.704-2(g)(1) and 1.704-2(i)(52), each such Member shall be specially allocated items of Company income and gain shall be specially allocated to such Member in the an amount and manner sufficient to eliminate such deficit (as so determined) of such excess Member’s Capital Account as quickly as possible, ; provided that an allocation pursuant to this Section 7.3(d7.4(f)(iv) shall be made only if and to the extent that such Member would have a deficit such Capital Account in excess of such sum deficit (as so determined) after all other allocations provided for in this Article 7 Section 7.4 (other than Section 7.4(f)(iii)) have been tentatively made as if this Section 7.3(d) and Section 7.3(c7.4(f)(iv) were not in the this Agreement.

Appears in 1 contract

Samples: Limited Liability Company (Ignis Petroleum Group, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year fiscal year which is in excess of the sum of (i1) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (ii2) the amount such Member is deemed to be obligated to restore pursuant to Regulations under Sections 1.704l.704-2(g)(12(g) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as .as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) 8.2.4 shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account in excess of such sum after all other allocations provided for in this Article 7 Agreement or Appendix 1 have been tentatively made as if this Section 7.3(d) and Section 7.3(c) provision were not in the 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 Company 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 restore, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) 3.9 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 7 III have been tentatively made as if this Section 7.3(d) 3.9 and Section 7.3(c) 3.8 hereof were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Air T Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) 8.11 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 7 VIII have been tentatively made as if this Section 7.3(d) 8.11 and Section 7.3(c) 8.10 hereof were not in the this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Prime Medical Services Inc /Tx/)

Gross Income Allocation. In the event any Member has a deficit balance in its Capital Account at the end of any Company Fiscal Year year which is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision the penultimate sentences of this Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company Fund income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.3(d) shall be made only if and to the extent that such Member would have a deficit balance in its Capital Account in excess of such sum the amount the Member is obligated to restore after all other allocations provided for in this Article 7 ARTICLE 4 have been tentatively made as if Section 4.3(c) and this Section 7.3(d) and Section 7.3(c4.3(d) were not in the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Capitala Finance Corp.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Allocation Year which is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision the penultimate sentence of this Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to each of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.3(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 7 4 have been tentatively made as if Section 4.3(c) and this Section 7.3(d) and Section 7.3(c4.3(d) were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Macquarie Infrastructure Assets Trust)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess ofthe sum of the sum of (i) the amount such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount amounts such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704the penultimate sentences ofSections l .704-2(g)(12(g)(l) and 1.704-2(i)(5)) ofthe Tax Regulations, each such Member shall be specially allocated items of Company ofCompany income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d9.4(d) shall be made only if and to the extent that such Member would have a deficit Capital Account in excess of such ofsuch sum after all other allocations provided for in this Article 7 IX have been tentatively made as if Section 9.4(c) and this Section 7.3(d) and Section 7.3(c9.4(d) were not in the this Agreement.

Appears in 1 contract

Samples: www.sullivanida.com

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which fiscal year that is in excess of the sum of (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 Regulations Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5)) of the Treasury Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d4.3(d) shall be made only if and only to the extent that such Member would have a deficit Capital Account balance in excess of such sum after all other allocations provided for in this Article 7 4 have been tentatively made as if this Section 7.3(d) and Section 7.3(c4.3(d) were not in the this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Unilife Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year taxable year which is in excess of the sum of (i) the amount such Member is obligated to restore pursuant to any provision the penultimate sentences of this Agreement and (ii) the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, ; provided that an allocation pursuant to this Section 7.3(d4.3(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 7 4 have been tentatively made as if Section 4.3(c) and this Section 7.3(d) and Section 7.3(c4.3(d) were not in the this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (American Retirement Corp)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Allocation Year which that 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)(11.7042(g)(1) and 1.704-2(i)(51.7042(1)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(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 7 Agreement have been tentatively made as if Section 4.11(c) and this Section 7.3(d) and Section 7.3(c4.11(d) were not in the this Agreement.

Appears in 1 contract

Samples: Limited Liability Companyagreement (Majestic Funding Partners, LLC)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), 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 7.3(d) shall 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 7 VII have been tentatively made as if this Section 7.3(d) and Section 7.3(c) were not in the Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Summit Healthcare REIT, Inc)

Gross Income Allocation. In the event If any Member has a deficit Capital Account balance in such Member's capital account at the end of any Company Fiscal Year fiscal year which is in excess of the sum of (i1) the amount such the Member is obligated to restore pursuant to any provision of the Company under this Agreement Agreement, and (ii2) the amount such the Member is deemed to be obligated to restore pursuant to under the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), 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 7.3(d13(b)(iv) shall will be made only and if and to the extent that such Member would have has a deficit Capital Account in excess of such sum capital account balance after all other allocations provided for in this Article 7 Section 13 have been tentatively made as if this Section 7.3(d13(b)(iv) and Section 7.3(c13(b)(iii) were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement (Orion Healthcorp Inc)

Gross Income Allocation. In the event If any Member has a deficit Capital Account balance at the end of any Company Fiscal Year which that is in excess of the sum of (ix) the amount that such Member is obligated to restore pursuant to any provision of this Agreement and (iiy) the amount such that the Member is deemed to be obligated to restore pursuant to Regulations the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5(i)(5), each such that 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 7.3(d9(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 7 Section 9 have been tentatively made as if this Section 7.3(dSections 9(c)(iii) and Section 7.3(c9(c)(iv) were not in the this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (TC3 Health, Inc.)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (i) the amount (if any) such Member is obligated to restore pursuant to under any provision of this Agreement Agreement, and (ii) the amount such Member is deemed to be obligated to restore pursuant to under the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to under this Section 7.3(d7.2(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 7 Section 7.2 have been tentatively made as if Section 7.2(c) and this Section 7.3(d) and Section 7.3(c7.2(d) were not in the Agreement.

Appears in 1 contract

Samples: Operating Agreement

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company Fiscal Year which Accounting Period that 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) restore, or the amount such Member is deemed to be obligated to restore pursuant to Regulations Sections the next to last sentences of Section 1.704-2(g)(1) and Section 1.704-2(i)(5)) of the Regulations, each such the Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; PROVIDED, provided HOWEVER, that an allocation alloca-tion pursuant to this Section 7.3(d) subsection 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 7 have been tentatively made as if this Section 7.3(d) subsection and Section 7.3(c) the qualified income offset provision set forth in the preceding subsection were not in the a part of this Agreement.

Appears in 1 contract

Samples: Operating Agreement (George Foreman Enterprises Inc)

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Regulations the penultimate sentences of Sections 1.704-2(g)(1) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as us quickly as possible; provided, provided that however, an allocation pursuant to this Section 7.3(d12.03(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 7 XII have been tentatively made as if Section 12.03(c) and this Section 7.3(d) and Section 7.3(c12.0(d) were not in the this Agreement.

Appears in 1 contract

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

Gross Income Allocation. In the event If any Member has a deficit Capital Account at the end of any Company Fiscal Year Fund 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 Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5)Treasury Regulation Section 1.704 2, each such Member shall be specially allocated items of Company Fund income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(dparagraph 5.03(c) 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 7 V have been tentatively made as if this Section 7.3(d) and Section 7.3(cparagraph 5.03(c) were not in the 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 Company 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 Regulations the penultimate sentences of Sections 1.704-2(g)(12(g)(l) and 1.704-2(i)(5)) of the Regulations, each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible; provided, provided that however, an allocation pursuant to this Section 7.3(d10.2(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 7 X have been tentatively made as if Section 10.2(c) and this Section 7.3(d) and Section 7.3(c10.2(d) were not in the this Agreement.

Appears in 1 contract

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

Gross Income Allocation. In the event any Member has a deficit Capital Account at the end of any Company Fiscal Year which is in excess of the sum of (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 Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 7.3(d) 7.11 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 7 VII have been tentatively made as if this Section 7.3(d) 7.11 and Section 7.3(c) 7.10 hereof were not in the this Agreement.

Appears in 1 contract

Samples: Operating Agreement (Prime Medical Services Inc /Tx/)

Gross Income Allocation. In the event any Member has a deficit Book Capital Account at the end of any Company Fiscal Year which that is in excess of the sum of (i) the any 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 Tax Regulations Sections §§ 1.704-2(g)(1) and 1.704-2(i)(5), each such then that Member shall be specially allocated items of Company income and gain in the amount of such excess as quickly as possible, provided that ; but an allocation pursuant to this Section 7.3(d) paragraph shall be made only if and to the extent that such Member would have a deficit Book Capital Account in excess of such sum after all other allocations provided for in this Article 7 Agreement have been tentatively made as if this Section 7.3(dSubsection 4.3(c) and Section 7.3(cthe preceding Subsection 4.3(b) were not in the Agreement.

Appears in 1 contract

Samples: Joint Venture Agreement (Monaco Coach Corp /De/)

Gross Income Allocation. In the event If any Member has a deficit Capital Account balance at the end of any Company Fiscal Year which that is in excess of the sum of (i) the amount that such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such that the Member is deemed to be obligated to restore pursuant to Regulations the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(11.7042(g)(1) and 1.704-2(i)(5(i)(5), each such that 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 7.3(d4.3(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 7 IV have been tentatively made as if this Section 7.3(dSections 4.3(c) and Section 7.3(c4.3(d) were not in the this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Emdeon Inc.)

Gross Income Allocation. In the event that any Member has a deficit Capital Account at the end of any Company Fiscal Year which that is in excess of the sum of (i) the amount that such Member is obligated to restore pursuant to any provision of this Agreement and (ii) the amount such that the Member is deemed to be obligated to restore pursuant to Regulations the penultimate sentence of Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5(i)(5), each such that 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 7.3(d3.4(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 7 III have been tentatively made as if this Section 7.3(d------- 3.4(c) and Section 7.3(c3.4(d) were not in the Agreement.. -----------------

Appears in 1 contract

Samples: Limited Liability Company Agreement (St John Knits Inc)

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