Common use of Other Profit Clause in Contracts

Other Profit. All Profit for any Fiscal Year not allocated pursuant to Section 7.01 (a), (b) and (c) shall be allocated as follows: (i) First, to the extent that the allocation under Section 7.01 (b)(i) and (c)(i) shall not have offset all allocations of Default Losses to the Other Owners, to the Other Owners to the extent of and in the same proportion as such Default Losses which were not so offset were allocated; (ii) Second, all income resulting from recoveries on defaulted Related Owner Notes shall be allocated to the Related Owner of such Notes to the extent the Related Owner was previously allocated Loss under Section 7.02(a) with respect to such Related Owner Notes; and (iii) Third, to the Owners in proportion to their Sharing Ratios.

Other Profit. All Profit for any Fiscal Year not allocated pursuant to Section 7.01 (a), (b) and (c) shall be allocated as follows: (i) First, to the extent that the allocation under Section 7.01 (b)(i) and (c)(i) shall not have offset all allocations of Default Losses to the Other Owners, to the Other Owners to the extent of and in the same proportion as such Default Losses which were not so offset were allocated; (ii) Second, all income resulting from recoveries on defaulted Related Owner Notes shall be allocated to the Related related Owner of such Notes to the extent the Related related Owner was previously allocated Loss under Section 7.02(a) with respect to such Related Owner Notes; and (iii) Third, to the Owners in proportion to their Sharing Ratios.