Common use of Limitation on Losses Clause in Contracts

Limitation on Losses. Notwithstanding the general allocation of Taxable Income and Tax Losses described in Section 10.1, no Partner shall be allocated Tax Losses in excess of the aggregate of such Partner's positive Capital Account balance, Partnership Minimum Gain (within the meaning of Treas. Reg. Section 1.704-2(b)(2)), and Partner Nonrecourse Minimum Gain (within the meaning of Treas. Reg. Section 1.704-2(i)(3)), until such time as no Partner has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Partners in accordance with their Participating Percentages. Furthermore, no Partner shall be allocated Tax Losses where it is reasonably anticipated that such Partner's Capital Account shall be negative at the end of the fiscal year in which the Tax Losses arise or at the end of the subsequent fiscal year, as a result of distributions of Net Cash Flow during such periods, until such time as no Partner would have a positive Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Partners in accordance with their Participating Percentages. Tax Losses not allocated to a Partner under this Section 10.2 shall be reallocated among those Partners with positive Capital Account balances in accordance with their Participating Percentages.

Limitation on Losses. Notwithstanding the general allocation of Taxable Income and Tax Losses described in Section 10.19.1, no Partner Member shall be allocated Tax Losses in excess of the aggregate of such Partner's Member’s positive Capital Account balance, Partnership balance and such Member’s share of the Company’s Minimum Gain (within the meaning of Treas. Reg. Section 1.704-2(b)(2))Gain, and Partner Member Nonrecourse Debt Minimum Gain (within the meaning of Treas. Reg. Section 1.704-2(i)(3))Gain, until such time as no Partner Member has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Partners Members pro rata in accordance with their Participating PercentagesUnits. Furthermore, no Partner Member shall be allocated Tax Losses where it is reasonably anticipated that such Partner's Member’s Capital Account shall be negative at the end of the fiscal year in which the Tax Losses arise or at the end of the subsequent fiscal year, as a result of distributions of Net Cash Flow during such periods, until such time as no Partner Member would have a positive Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Partners Members pro rata in accordance with their Participating PercentagesUnits. Tax Losses not allocated to a Partner under Member as a result of this Section 10.2 9.2 shall be reallocated among those Partners Members with positive Capital Account balances pro rata in accordance with their Participating PercentagesUnits.

Limitation on Losses. Notwithstanding the general allocation of -------------------- Taxable Income and Tax Losses described in Section paragraph 10.1, no Partner Member shall be allocated Tax Losses in excess of the aggregate of such PartnerMember's positive Capital Account balance, Partnership Company Minimum Gain (within the meaning of Treas. Reg. Section (S) 1.704-2(b)(2)), and Partner Member Nonrecourse Minimum Gain (within the meaning of Treas. Reg. Section (S) 1.704-2(i)(3)), until such time as no Partner Member has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Partners Members in accordance with their Participating PercentagesUnits of Participation. Furthermore, no Partner Member shall be allocated Tax Losses where it is reasonably anticipated that such PartnerMember's Capital Account shall be negative at the end of the fiscal year in which the Tax Losses arise or at the end of the subsequent fiscal year, as a result of distributions of Net Cash Flow during such periods, until such time as no Partner Member would have a positive Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Partners Members in accordance with their Participating PercentagesUnits of Participation. Tax Losses not allocated to a Partner Member under this Section paragraph 10.2 shall be reallocated among those Partners Members with positive Capital Account balances in accordance with their Participating PercentagesUnits of Participation.

Limitation on Losses. Notwithstanding the general allocation of Taxable Income and Tax Losses described in Section 10.1, no Partner Member shall be allocated Tax Losses in excess of the aggregate of such PartnerMember's positive Capital Account balance, Partnership Company Minimum Gain (within the meaning of Treas. Reg. Section 1.704-2(b)(2)), and Partner Member Nonrecourse Minimum Gain (within the meaning of Treas. Reg. Section 1.704-2(i)(3)), until such time as no Partner Member has a positive Capital Account balance, whereupon subsequent allocations of Tax Losses shall again be allocated among the Partners Members in accordance with their Participating Percentages. Furthermore, no Partner Member shall be allocated Tax Losses where it is reasonably anticipated that such PartnerMember's Capital Account shall be negative at the end of the fiscal year in which the Tax Losses arise or at the end of the subsequent fiscal year, as a result of distributions of Net Cash Flow during such periods, until such time as no Partner Member would have a positive Capital Account balance after such reasonably anticipated distributions of Net Cash Flow, whereupon subsequent allocations of Tax Losses shall again be allocated among the Partners Members in accordance with their Participating Percentages. Tax Losses not allocated to a Partner Member under this Section 10.2 shall be reallocated among those Partners Members with positive Capital Account balances in accordance with their Participating Percentages.