Net Losses definition

Net Losses means, for each fiscal year or other period, an amount equal to the Partnership's taxable income or loss for such year or period determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

Net Losses means, with respect to any Collection Period, the excess, if any, of (i) the aggregate Principal Balance of all Receivables that became Defaulted Receivables during such Collection Period over (ii) the aggregate Liquidation Proceeds received by the Servicer during such Collection Period.

Net Losses means the excess of all expenses of the Company over all income of the Company (including the amount of any losses recognized by the Company on the sale or other disposition of Company property) during a calendar year, all as determined in accordance with the method of accounting utilized by the Company for federal income tax purposes.

Examples of Net Losses in a sentence

• No Net Losses shall be allocated to a Member if suchallocation would cause or increase a deficit in such Member’s Capital Account after crediting to such Capital Account any amounts which such Member is deemed obligated to restore under Treasury Regulation Sections 1.704-2(g)(1) and 1.704-2(i)(5) in respect of the Member Interests held by the Member.

• No Person shall be entitled to any retroactive allocation of Net Profits or Net Losses incurred by the Company, unless such retroactive allocation complies with Code § 704(b) and § 706(d) and the Treas.

• In such case, Capital Contributions, distributions, redemptions and allocations of Net Profits and Net Losses shall be determined separately for each such Capital Account as if it were held by a separate Member and each such separate Capital Account will be treated as a Capital Account for all purposes pursuant to this Limited Liability Company Agreement.

• Net Losses do not include any reductions in principal receivables due to fraud, returned goods or customer disputes, the amount of which instead results in the reduction of the Asset Pool One Transferor Amount .

• Unless otherwise determined by the Board, immediately prior to any Adjustment Date, the Capital Accounts of all Members shall also be increased or decreased to reflect the aggregate net increase or decrease in Gross Asset Values of the Company as if the upward or downward change in the Gross Asset Values arising from such adjustment had been Net Profits or Net Losses, respectively, and allocated among the Members pursuant to Section 10.02(a).

More Definitions of Net Losses

Net Losses for any Fiscal Year or other period shall mean, respectively, an amount equal to the Company’s taxable income or loss for such Fiscal Year or other period as determined for federal income tax purposes by the Managing Member, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

Net Losses mean the taxable income or loss, as the case may be, for a period as determined in accordance with Code Section 703(a) computed with the following adjustments:

Net Losses means the losses and deductions of the Company determined in accordance with accounting principles consistently applied from year to year employed under the method of accounting adopted by the Company and as reported separately or in the aggregate, as appropriate, on the tax return of the Company filed for federal income tax purposes.

Net Losses means the income, gain, loss, deductions and credits of the Company in the aggregate or separately stated, as appropriate, as of the close of each Fiscal year.

Net Losses means the "Net Profit" or "Net Loss" of the Company for a fiscal year or other period shall mean the Company's taxable income, gain, loss and deductions, as the case may be, for such year or period, determined in accordance with Code Section 703(a), with the following adjustments:

Net Losses means the net income and net losses, respectively, of the Company as determined for federal income tax purposes.

Net Losses means the net profit or net loss, respectively, of the Company determined in accordance with Section 8.1.