Limitation on Loss Allocations. If any allocation of Losses would cause a Member to have an Adjusted Capital Account Deficit, those Losses instead shall be allocated to the other Members Pro Rata.
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.)
Limitation on Loss Allocations. If any allocation of Net Losses would cause a Member to have an Adjusted Capital Account Deficit, those Losses instead shall be allocated to the other Members Pro Ratapro rata until their Capital Accounts are reduced to zero, and any remaining Losses will be allocated to each Member in accordance with the relative number of Units held by such Member, as determined by the Board.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Quigley Corp)
