Loss Account definition

Loss Account has the meaning set forth in Section 6.07(a).
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Loss Account means a memorandum account for each Limited Partner to be recorded in the books and records of the Partnership with respect to a Performance Period. The balance of the Loss Account for the initial Performance Period with respect to a Limited Partner’s Capital Account shall be zero. The balance of such Loss Account for each subsequent Performance Period shall be calculated as follows:
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Loss Account means any Account with respect to which there is no RPR Indebtedness and (a) which the amount of any payment due thereon in more than 120 days past due, calculated on a contractual basis, (b) as to which an Account Debtor is deceased or legally dissolved or seeks protection under the Bankruptcy Code, (c) as to which none of GE Capital, Parent or any Operating Subsidiary has an accurate current address for the Account Debtor, or (d) which is reasonably deemed by GE Capital to be uncollectible; PROVIDED, HOWEVER, that if GE Capital determines that an Account with respect to which there is no RPR Indebtedness is collectible despite the occurrence of an event described in sections (a)-(c), such Account shall not be a Loss Account.
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Examples of Loss Account in a sentence

  • An impairment loss is charged to the Profit and Loss Account in the year in which an asset is identified as impaired.

  • The draft accounts should include Balance Sheet and Profit and Loss Account with associated accounting policies and notes to the Accounts.

  • The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are in agreement with the books of account.

  • Copies of Balance Sheet and Profit & Loss Account for three years certified by the Auditors.

  • A copy of the latest Forecast Accounts including Balance Sheet and Profit and Loss Account with associated accounting policies and notes to the accounts for the year following the accounts submitted in 1 above.

  • In case of Proprietorship, Partnership Firms and Company, Tax Audit Report in 3CD Form are to be furnished along with the Balance Sheet and Profit and Loss Account, and all the documents along with schedules forming the part of Balance Sheet and Profit & Loss Account should be in favour of applicant.

  • N.B. The Audited Balance Sheet and Profit & Loss Account with all the schedules and annexure forming part of the Balance Sheet and Profit & Loss Account for the last 3(three) years should be given.

  • As a proof, copy of Abridged Balance Sheet along with Profit and Loss Account Statement of the firm should be submitted along with the application.

  • Copies of (duly audited and certified by a chartered Accountant) Profit and Loss Account / Balance sheet of the sole proprietor concern or a partnership firm, Annual Report in case of company as per the companies Act.

  • The reduction is treated as an impairment loss and is recognised in the Profit and Loss Account.


More Definitions of Loss Account

Loss Account means the loss carry forward account (Verlust(vortrags)konto), recording limited partner's share in the partnership's losses;
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Related to Loss Account

  • Excess Loss Account has the meaning set forth in Treas. Reg. Section 1.1502-19.

  • Business Account means an Account used primarily for business purposes and not for personal, family, or household purposes.

  • Surplus Account has the meaning assigned to it in Section 3.02(a).

  • Insurance Account shall have the meaning set forth in Section 8.6 hereof.

  • Collections Account has the meaning given to such term in Section 3.01(a) hereof.

  • Loss Proceeds Account has the meaning set forth in Section 3.3(a).

  • Related Account means an Account with respect to which a new account number has been issued by the related Account Owner (i) in compliance with the Account Guidelines and the related Account Agreement, (ii) to the same Obligor or Obligors of such Account, and (iii) (a) as a result of the charge card with respect to such Account being lost or stolen; (b) as a result of the related Obligor requesting a change in his or her billing cycle; (c) as a result of the related Obligor requesting the discontinuance of responsibility with respect to such Account; (d) as a result of the related Obligor requesting a product change; or (e) for any other reasons permitted by the Account Guidelines; provided that such Account can be traced or identified by reference to or by way of the code designation in the securitization field of such Account, which code designation is contained in the computer or other records of the applicable Account Owner or the Servicer used to generate the Account Schedule.

  • Funds Account means an account held by you or any third parties maintained with any Participant.

  • Insurance Proceeds Account has the meaning given to such term in the Accounts Agreement.

  • Collection Accounts The accounts established and maintained by a Servicer in accordance with Section 3.05.

  • Collateral Accounts means any and all accounts established and maintained by the Pledgee in the name of any Pledgor to which Collateral may be credited.

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement.

  • Funding Accounts has the meaning assigned to such term in Section 4.01(h).

  • Linked Account means any controlled disbursement account, controlled balance account or other deposit account maintained by a Collection Account Bank for the Parent, the Performance Guarantor, the Servicer, any Originator or any Affiliate thereof and linked to any Collection Account by a zero balance account connection or other automated funding mechanism or controlled balance arrangement.

  • Reserve Accounts means, collectively, the Interest Reserve Account, the Excess Liquidation Proceeds Reserve Account and the TA Unused Fees Reserve Account.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Note Account As defined in the Indenture.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Concentration Accounts has the meaning ascribed to it in Annex C.

  • Separate Accounts means the accounts which are to be prepared for each

  • Special Accounts means the accounts referred to in Section 2.02 (b) of this Agreement;

  • Joint Account means an Account opened in more than one name;

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Segregated Account means an account established for and on behalf of a Fund in which may be held Property that is maintained: (i) for the purposes set forth in Section 3.08, 3.09, and 3.10, hereof; (ii) for the purposes of compliance by the Fund with the procedures required by Investment Company Act Release No. 10666, or any subsequent release or releases of the Commission relating to the maintenance of Segregated Accounts by registered investment companies, or (iii) for any other lawful purposes as may be deemed necessary by the Fund.

  • Aggregate Account means, with respect to each Participant, the value of all accounts maintained on behalf of a Participant, whether attributable to Employer or Employee contributions, subject to the provisions of Section 9.2.