Common use of Loss Limitation Clause in Contracts

Loss Limitation. Net loss allocated pursuant to Section 8.1 shall not exceed the maximum amount of net loss that can be allocated without causing or increasing a deficit balance in a Member’s Adjusted Capital Account. A Member’s “Adjusted Capital Account” balance shall mean such Member’s Capital Account balance increased by such Member’s obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), and decreased by the amounts described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6). In the event that one but not all of the Members would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss pursuant to Section 8.1 in excess of the amount, if any, permitted under the first sentence of this Section 8.2, the limitation set forth in this Section 8.2 shall be applied by allocating 100% of the remaining net loss to the other Members, in proportion to such positive balances, until the Adjusted Capital Account of such other Member or Members is zero.

Loss Limitation. Net loss allocated pursuant to Section 8.1 10.02 shall not exceed the maximum amount of net loss that can be allocated without causing or increasing a deficit balance in a Member’s Adjusted Capital Account. A Member’s “Adjusted Capital Account” balance shall mean such any Member’s Capital Account balance increased by (in excess of such Member’s obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5)). In the event that some but not all of the Members would have deficit balances in their Capital Accounts as a consequence of allocations of net loss pursuant to Section 10.02 in excess of the amount, if any, permitted under the preceding sentence, the limitation set forth in this Section 10.03 shall be applied on a Member by Member basis, and decreased net loss not allocable to any Member as a result of this limitation shall be allocated to the other Members in proportion to the positive balances of such Members’ Capital Accounts so as to allocate the maximum amount of net loss to each Member under Treasury Regulations Section 1.704-1(b)(2)(ii)(d). In making the foregoing determination, a Member’s Capital Account shall be reduced by the amounts described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) ), or (6). In the event that one but not all of the Members would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss pursuant to Section 8.1 in excess of the amount, if any, permitted under the first sentence of this Section 8.2, the limitation set forth in this Section 8.2 shall be applied by allocating 100% of the remaining net loss to the other Members, in proportion to such positive balances, until the Adjusted Capital Account of such other Member or Members is zero.

Loss Limitation. Net loss allocated pursuant to Section 8.1 9.02 shall not exceed the maximum amount of net loss that can be allocated without causing or increasing a deficit balance in a Member’s Adjusted Capital Account. A Member’s “Adjusted Capital Account” balance shall mean such any Member’s Capital Account balance increased by (in excess of such Member’s obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5)). In the event that some but not all of the Members would have deficit balances in their Capital Accounts as a consequence of allocations of net loss pursuant to Section 9.02 in excess of the amount, if any, permitted under the preceding sentence, the limitation set forth in this Section 9.03 shall be applied on a Member by Member basis, and decreased net loss not allocable to any Member as a result of this limitation shall be allocated to the other Members in proportion to the positive balances of such Members’ Capital Accounts so as to allocate the maximum amount of net loss to each Member under Treasury Regulations Section 1.704-1(b)(2)(ii)(d). In making the foregoing determination, a Member’s Capital Account shall be reduced by the amounts described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) ), or (6). In the event that one but not all of the Members would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss pursuant to Section 8.1 in excess of the amount, if any, permitted under the first sentence of this Section 8.2, the limitation set forth in this Section 8.2 shall be applied by allocating 100% of the remaining net loss to the other Members, in proportion to such positive balances, until the Adjusted Capital Account of such other Member or Members is zero.

Loss Limitation. Net loss Losses allocated pursuant to Section 8.1 11.2 shall not exceed the maximum amount of net loss Net Losses that can be allocated without causing or increasing a deficit balance in a Member’s Adjusted Capital Account. A Member’s “Adjusted Capital Account” balance shall mean such Member’s Capital Account balance increased by such Member’s obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections Regulation Section 1.704-2(g)(1) and 1.704-2(i)(5), and decreased by the amounts described in Treasury Regulations Regulation Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6). In the event that one but not all both of the Members would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss Net Losses pursuant to Section 8.1 11.2 in excess of the amount, if any, permitted under the first sentence of this Section 8.211.3, the limitation set forth in this Section 8.2 11.3 shall be applied by allocating 100% of the remaining net loss Net Losses to the other Members, in proportion to such positive balances, Member until the Adjusted Capital Account of such other Member or Members is zero.

Loss Limitation. Net loss Loss allocated pursuant to Section 8.1 shall not exceed the maximum amount of net loss Net Loss that can be allocated without causing or increasing a deficit balance in a Member’s Adjusted Capital Account. A Member’s “Adjusted Capital Account” balance shall mean such Member’s Capital Account balance increased by such Member’s obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), and decreased by the amounts described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6). In the event that one but not all of the Members would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss Net Loss pursuant to Section 8.1 in excess of the amount, if any, permitted under the first sentence of this Section 8.2, the limitation set forth in this Section 8.2 shall be applied by allocating 100% of the remaining net loss Net Loss to the other Members, pursuant to Section 8.1 (subject to the limit in proportion to such positive balancesthis Section 8.2), until the Adjusted Capital Account of each such other Member or Members is zero.

Loss Limitation. Net loss Losses allocated pursuant to Section 8.1 4.3 shall not exceed the maximum amount of net loss Net Losses that can be allocated without causing or increasing a deficit balance in a Member’s 's Adjusted Capital Account. A Member’s “'s "Adjusted Capital Account” " balance shall mean such Member’s 's Capital Account balance increased by such Member’s 's obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections Section 1.704-2(g)(1) and 1.704-2(i)(5), and decreased by the amounts described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) ), or (6). In the event that one but not all both of the Members would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss Net Losses pursuant to Section 8.1 4.3 in excess of the amount, if any, permitted under the first sentence of this Section 8.24.4, the limitation set forth in this Section 8.2 4.4 shall be applied by allocating 100% of the remaining net loss Net Losses to the other Members, in proportion to such positive balances, Member until the Adjusted Capital Account of such other Member or Members is zero.

Loss Limitation. Net loss Losses allocated pursuant to Section 8.1 4.3 shall not exceed the maximum amount of net loss Net Losses that can be allocated without causing or increasing a deficit balance in a Member’s 's Adjusted Capital Account. A Member’s “'s "Adjusted Capital Account” " balance shall mean such Member’s 's Capital Account balance increased by such Member’s 's obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections Section 1.704-2(g)(1) and 1.704-2(i)(5), and decreased by the amounts described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) ), or (6). In the event that one but not all of the Members would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss Net Losses pursuant to Section 8.1 4.3 in excess of the amount, if any, permitted under the first sentence of this Section 8.24.5, the limitation set forth in this Section 8.2 4.5 shall be applied by allocating 100% of the remaining net loss Net Losses to the other Members, Members in proportion to such positive balances, accordance with Section 4.3 until the Adjusted Capital Account of such other Member or Members is zero.

Loss Limitation. Net loss allocated pursuant to Section 8.1 4.3 shall not exceed the maximum amount of net loss that can be allocated without causing or increasing a deficit balance in a Member’s 's Adjusted Capital Account. A Member’s “'s "Adjusted Capital Account” " balance shall mean such Member’s 's Capital Account balance increased by such Member’s 's obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections Section 1.704-2(g)(1) and 1.704-2(i)(5), and decreased by the amounts described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(41(b)(2)(ii)(D)(4), (5) ), or (6). In the event that one but not all both of the Members would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss pursuant to Section 8.1 4.3 in excess of the amount, if any, permitted under the first sentence of this Section 8.24.4, the limitation set forth in this Section 8.2 4.4 shall be applied by allocating 100% of 100%of the remaining net loss to the other Members, in proportion to such positive balances, Member until the Adjusted Capital Account of such other Member or Members is zero.

Loss Limitation. Net loss allocated pursuant to Section 8.1 5.2 shall not exceed the maximum amount of net loss that can be allocated without causing or increasing a deficit balance in a Member’s Venturer's Adjusted Capital Account. A Member’s “Venturer's "Adjusted Capital Account” " balance shall mean such Member’s Venturer's Capital Account balance increased by such Member’s Venturer's obligation to restore a deficit balance in its Capital Account, including any deemed obligation pursuant to the penultimate sentences of Treasury Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5), and decreased by the amounts described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6). In the event that one but not all both of the Members Venturers would have a deficit balance in its Adjusted Capital Account as a consequence of an allocation of net loss pursuant to Section 8.1 5.2 in excess of the amount, if any, permitted under the first sentence of this Section 8.25.3, the limitation set forth in this Section 8.2 5.3 shall be applied by allocating 100% of the remaining net loss to the other Members, in proportion to such positive balances, Venturer until the Adjusted Capital Account of such other Member or Members Venturer is zero.