Unexpected Allocation. If the Limited Partners unexpectedly receive an adjustment, allocation or distribution described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and/or (6), then the Limited Partners will be allocated items of income and gain in an amount and manner sufficient to eliminate any deficit balance in the Limited Partners' Adjusted Capital Accounts as quickly as possible.
Appears in 3 contracts
Sources: Limited Partnership Agreement (Madyson Equity Group, LP), Limited Partnership Agreement (Madyson Equity Group, LP), Limited Partnership Agreement (Madyson Equity Group, LP)
Unexpected Allocation. If the Limited Partners unexpectedly receive an adjustment, allocation or distribution described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and/or (6), then the Limited Partners will be allocated items of income and gain in an amount and manner sufficient to eliminate any deficit balance in the Limited Partners' β Adjusted Capital Accounts as quickly as possible.
Appears in 2 contracts
Sources: Limited Partnership Agreement (BridgeWell Secured Income LP), Limited Partnership Agreement (Bridgewell Preferred Income Fund, LP)