Net Income and Net Losses. (a) Subject to the allocation rules of Section 12.2 and the Exhibits, Net Income with respect to any Series for any Fiscal Year shall be allocated among the Members associated with such Series in proportion to such Members’ Percentage Interests in such Series.
Net Income and Net Losses. After giving effect to the special allocation provisions set forth in Section 4.2, which special allocations shall take precedence over any allocations made pursuant to this Section 4.1,
Net Income and Net Losses. After giving effect to the special allocations set forth in Section 6.1(b), Net Income and Net Losses for each taxable period and all items of income, gain, loss, and deduction for such taxable period shall be allocated to the Members, Pro Rata.
Net Income and Net Losses. Except as otherwise provided in this Agreement, Net Income and Net Losses of the Partnership shall be allocated among the Partners in a manner that, after giving effect to the allocations set forth in Sections 4.1(b), 4.2 and 4.3, the Capital Account of each Partner, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to (i) the distributions that would be made to such Partners pursuant to Section 5.3 if the Partnership were dissolved, its affairs wound up and its assets sold for cash equal to their Gross Asset Value, all Partnership liabilities were satisfied (limited with respect to each Nonrecourse Liability to the Gross Asset Value of the assets securing such liability), and the net assets of the Partnership were distributed in accordance with Section 5.3 to the Partners immediately after making such allocation, minus (ii) such Partner’s share of Partnership Minimum Gain and Partner Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets, minus (iii) in the case of the General Partner, any obligation of the General Partner to make a payment to the Partnership pursuant to Section 5.4 if the Partnership were dissolved at such time, plus (iv) in the case of each Limited Partner, such Limited Partner’s share of the amount of the payment of the General Partner referred to in clause (iii) hereof (as if it had been made at such time), minus (v) in the case of each Partner, any obligation of such Partner to make a payment to the Partnership pursuant to Section 5.5 if the Partnership were dissolved at such time, plus (vi) in the case of each Partner, such Partner’s share of the amount of the payment of the Partners referred to in clause (v) hereof (as if it had been made at such time).
Net Income and Net Losses. The terms "Net Income" and "Net Losses" shall mean the profits and losses of the Company, as the case may be, as determined for federal income tax purposes, plus any adjustments required pursuant to the Code or Treasury Regulations, as of the close of each Fiscal Year.
Net Income and Net Losses. After giving effect to the special allocations set forth in Section 6.1(b) and the Capital Account adjustments pursuant to Section 6.1(c)(ii), Net Income and Net Losses for each taxable period and all items of income, gain, loss, deduction, and, to the extent provided in Section 6.1(c)(iii), Simulated Gain taken into account in computing Net Income and Net Losses for such taxable period shall be allocated to the Members, Pro Rata.
Net Income and Net Losses. After giving effect to the special allocations set forth in Section 6.2(b), Net Income and Net Loss for each taxable period shall be allocated as set forth below.
