{"component": "definition", "props": {"groups": [{"snippet": "has the meaning provided in Section 5.1(e) hereof.", "samples": [{"hash": "9pvCLrkhXtE", "uri": "/contracts/9pvCLrkhXtE#profit", "label": "Limited Partnership Agreement (Fidelity Core Real Estate Fund)", "score": 37.3203277588, "published": true}, {"hash": "da64IfQWwwb", "uri": "/contracts/da64IfQWwwb#profit", "label": "Limited Partnership Agreement (Blackstone Real Estate Income Trust, Inc.)", "score": 36.8412055969, "published": true}, {"hash": "hzQedpjG9Ff", "uri": "/contracts/hzQedpjG9Ff#profit", "label": "Limited Partnership Agreement (Blue Owl Digital Infrastructure Trust)", "score": 36.7700195312, "published": true}], "snippet_links": [], "size": 225, "hash": "1eb325b62c40bab4c364e136c2ce3e41", "id": 1}, {"snippet": "and \u201cLoss\u201d means, for each taxable year of the Company (or other period for which Profit or Loss must be computed) the Company\u2019s taxable income or loss determined in accordance with the Code.", "samples": [{"hash": "clfVvy9EvmQ", "uri": "/contracts/clfVvy9EvmQ#profit", "label": "Operating Agreement", "score": 32.7460441589, "published": true}, {"hash": "iKGTrwnakkT", "uri": "/contracts/iKGTrwnakkT#profit", "label": "Limited Liability Company Agreement (Exelon Generation Co LLC)", "score": 31.590007782, "published": true}, {"hash": "etI8oXV9nbY", "uri": "/contracts/etI8oXV9nbY#profit", "label": "Limited Liability Company Agreement (Exelon Generation Co LLC)", "score": 30.3305950165, "published": true}], "snippet_links": [{"key": "taxable-year", "type": "clause", "offset": [27, 39]}, {"key": "of-the-company", "type": "clause", "offset": [40, 54]}, {"key": "other-period", "type": "definition", "offset": [59, 71]}, {"key": "profit-or-loss", "type": "definition", "offset": [82, 96]}, {"key": "taxable-income-or-loss", "type": "definition", "offset": [129, 151]}, {"key": "in-accordance-with", "type": "definition", "offset": [163, 181]}, {"key": "the-code", "type": "clause", "offset": [182, 190]}], "size": 182, "hash": "8c56d7d77abcba69bbae4190f0be1397", "id": 2}, {"snippet": "and \u201cLoss\u201d and any items of income, gain, expense, or loss referred to in this Agreement shall be determined in accordance with federal income tax accounting principles, as modified by Regulations Section 1.704-1(b)(2)(iv), except that Profit and Loss shall not include items of income, gain and expense that are specially allocated pursuant to Sections 5.1(b), 5.1(c) or 5.1(d). All allocations of income, Profit, gain, Loss and expense (and all items contained therein) for federal income tax purposes shall be identical to all allocations of such items set forth in this Section 5.1, except as otherwise required by Section 704(c) of the Code and Regulations Section 1.704-1(b)(4). The General Partner shall have the authority to elect the method to be used by the Partnership for allocating items of income, gain, and expense as required by Section 704(c) of the Code including a method that may result in a Partner receiving a disproportionately larger share of the Partnership tax depreciation deductions, and such election shall be binding on all Partners.", "samples": [{"hash": "jZj5pJ0W7OS", "uri": "/contracts/jZj5pJ0W7OS#profit", "label": "Limited Partnership Agreement (SmartStop Self Storage REIT, Inc.)", "score": 36.8494186401, "published": true}, {"hash": "pcBC4KC7eP", "uri": "/contracts/pcBC4KC7eP#profit", "label": "Limited Partnership Agreement (Strategic Storage Trust VI, Inc.)", "score": 33.1998634338, "published": true}, {"hash": "aiMaRbMziHV", "uri": "/contracts/aiMaRbMziHV#profit", "label": "Limited Partnership Agreement (Strategic Storage Trust VI, Inc.)", "score": 32.4031486511, "published": true}], "snippet_links": [{"key": "in-this-agreement", "type": "definition", "offset": [71, 88]}, {"key": "in-accordance-with", "type": "definition", "offset": [109, 127]}, {"key": "accounting-principles", "type": "clause", "offset": [147, 168]}, {"key": "profit-and-loss", "type": "definition", "offset": [236, 251]}, {"key": "pursuant-to-sections", "type": "clause", "offset": [333, 353]}, {"key": "all-items", "type": "definition", "offset": [443, 452]}, {"key": "federal-income-tax-purposes", "type": "clause", "offset": [476, 503]}, {"key": "section-51", "type": "clause", "offset": [574, 585]}, {"key": "code-and-regulations", "type": "definition", "offset": [641, 661]}, {"key": "the-general-partner", "type": "definition", "offset": [685, 704]}, {"key": "authority-to", "type": "clause", "offset": [720, 732]}, {"key": "the-method", "type": "definition", "offset": [739, 749]}, {"key": "by-the-partnership", "type": "clause", "offset": [761, 779]}, {"key": "as-required-by", "type": "clause", "offset": [830, 844]}, {"key": "depreciation-deductions", "type": "definition", "offset": [987, 1010]}, {"key": "all-partners", "type": "clause", "offset": [1050, 1062]}], "size": 177, "hash": "eb38486bac8ca627fa571807603e2394", "id": 3}, {"snippet": "means an entity\u2019s total revenue less its operating expenses, interest paid, depreciation, and taxes. \u201cProfit\u201d is synonymous with \u201cNet Revenue.\u201d", "samples": [{"hash": "jyX3ldf8w4L", "uri": "/contracts/jyX3ldf8w4L#profit", "label": "Grant Agreement", "score": 33.4906082153, "published": true}, {"hash": "bn07ool8Qfr", "uri": "/contracts/bn07ool8Qfr#profit", "label": "Inter Governmental Grant Agreement", "score": 33.0717926025, "published": true}, {"hash": "QiR0yzhchY", "uri": "/contracts/QiR0yzhchY#profit", "label": "Grant Agreement", "score": 33.0717926025, "published": true}], "snippet_links": [{"key": "total-revenue", "type": "clause", "offset": [18, 31]}, {"key": "operating-expenses", "type": "definition", "offset": [41, 59]}, {"key": "interest-paid", "type": "definition", "offset": [61, 74]}, {"key": "net-revenue", "type": "clause", "offset": [130, 141]}], "size": 131, "hash": "28790cd821566bb2d79cfec2b522bfa8", "id": 4}, {"snippet": "means the surplus of receipts over the total eligible costs of the action, where receipts are the amount obtained following Steps 1 and 2 plus the revenue generated by the action for beneficiaries and affiliated entities other than non-profit organisations.", "samples": [{"hash": "iTJD3lvRiYn", "uri": "https://ec.europa.eu/regional_policy/sources/whats-new/tenders-and-grants/calls-for-proposal/2022_16_0at_291/call_proposals_en.pdf", "label": "ec.europa.eu", "score": 15.1226224899, "published": false}, {"hash": "fEQgslCCRFt", "uri": "https://frontex.europa.eu/assets/About_Frontex/Grants/2021/FPA/CALL_FOR_PROPOSALS_2021_CFP_POST_01.pdf", "label": "Framework Partnership Agreement", "score": 12.9219713211, "published": false}, {"hash": "Addz5wVNec", "uri": "https://ec.europa.eu/regional_policy/sources/whats-new/tenders-and-grants/calls-for-proposal/2021_16_0at_144/call_proposals_en.pdf", "label": "ec.europa.eu", "score": 12.8385591507, "published": false}], "snippet_links": [{"key": "eligible-costs-of-the-action", "type": "clause", "offset": [45, 73]}, {"key": "revenue-generated", "type": "definition", "offset": [147, 164]}, {"key": "affiliated-entities", "type": "clause", "offset": [201, 220]}], "size": 112, "hash": "43e472d743b9236c8bccd0eb6a549a98", "id": 5}, {"snippet": "and \u201cLoss\u201d and any items of income, gain, expense, or loss referred to in this Agreement shall be determined in accordance with the accounting method used by the Partnership for U.S. federal income tax purposes with the following adjustments: (i) all items of income, gain, loss or deduction allocated pursuant to Sections 5.1(c)(i) through (iii) shall not be taken into account in computing such taxable income or loss; (ii) any income of the Partnership that is exempt from U.S. federal income taxation and not otherwise taken into account in computing Profit and Loss shall be added to such taxable income or loss; (iii) if the Carrying Value of any asset differs from its adjusted tax basis for U.S. federal income tax purposes, any depreciation, amortization, gain or loss resulting from a disposition of such asset shall be calculated with reference to such Carrying Value; (iv) upon an adjustment to the Carrying Value of any asset pursuant to the definition of Carrying Value (other than an adjustment in respect of depreciation, amortization or cost recovery deductions), the amount of the adjustment shall be included as gain or loss in computing such taxable income or loss; (v) if the Carrying Value of any asset differs from its adjusted tax basis for U.S. federal income tax purposes, the amount of depreciation, amortization or cost recovery deductions with respect to such asset for purposes of Profit and Loss shall be an amount which bears the same ratio to such Carrying Value as the U.S. federal income tax depreciation, amortization or other cost recovery deductions bears to such adjusted tax basis (provided that if the U.S. federal income tax depreciation, amortization or other cost recovery deduction is zero, the Partners may use any reasonable method for purposes of determining depreciation, amortization or other cost recovery deductions in calculating Profit and Loss; and (vi) except for items in (i) above, any expenditures of the Partnership not deductible in computing taxable income or loss, not properly capitalizable and not otherwise taken into account in computing Profit and Loss pursuant to this definition shall be treated as deductible items.", "samples": [{"hash": "9pvCLrkhXtE", "uri": "/contracts/9pvCLrkhXtE#profit", "label": "Limited Partnership Agreement (Fidelity Core Real Estate Fund)", "score": 37.3203277588, "published": true}, {"hash": "9fiMuLbVXmz", "uri": "/contracts/9fiMuLbVXmz#profit", "label": "Limited Partnership Agreement (Blackstone Real Estate Income Trust, Inc.)", "score": 36.5427780151, "published": true}, {"hash": "b8og09jLa5C", "uri": "/contracts/b8og09jLa5C#profit", "label": "Limited Partnership Agreement (StratCap Digital Infrastructure REIT, Inc.)", "score": 36.4743309021, "published": true}], "snippet_links": [{"key": "in-this-agreement", "type": "definition", "offset": [71, 88]}, {"key": "in-accordance-with", "type": "definition", "offset": [109, 127]}, {"key": "accounting-method", "type": "definition", "offset": [132, 149]}, {"key": "by-the-partnership", "type": "clause", "offset": [155, 173]}, {"key": "for-us", "type": "clause", "offset": [174, 181]}, {"key": "federal-income-tax-purposes", "type": "clause", "offset": [183, 210]}, {"key": "all-items", "type": "definition", "offset": [247, 256]}, {"key": "pursuant-to-sections", "type": "clause", "offset": [302, 322]}, {"key": "taxable-income-or-loss", "type": "definition", "offset": [397, 419]}, {"key": "federal-income-taxation", "type": "clause", "offset": [481, 504]}, {"key": "profit-and-loss", "type": "definition", "offset": [555, 570]}, {"key": "carrying-value", "type": "definition", "offset": [631, 645]}, {"key": "adjusted-tax-basis", "type": "clause", "offset": [676, 694]}, {"key": "gain-or-loss", "type": "clause", "offset": [765, 777]}, {"key": "resulting-from", "type": "definition", "offset": [778, 792]}, {"key": "disposition-of", "type": "clause", "offset": [795, 809]}, {"key": "with-reference-to", "type": "clause", "offset": [841, 858]}, {"key": "adjustment-to", "type": "clause", "offset": [893, 906]}, {"key": "the-definition-of", "type": "clause", "offset": [951, 968]}, {"key": "in-respect-of", "type": "clause", "offset": [1010, 1023]}, {"key": "recovery-deductions", "type": "definition", "offset": [1059, 1078]}, {"key": "the-adjustment", "type": "clause", "offset": [1095, 1109]}, {"key": "with-respect-to", "type": "clause", "offset": [1368, 1383]}, {"key": "for-purposes-of", "type": "clause", "offset": [1395, 1410]}, {"key": "the-us", "type": "clause", "offset": [1499, 1506]}, {"key": "tax-depreciation", "type": "definition", "offset": [1523, 1539]}, {"key": "other-cost-recovery", "type": "clause", "offset": [1557, 1576]}, {"key": "provided-that", "type": "definition", "offset": [1622, 1635]}], "size": 83, "hash": "7848c8ef78b1bae35d1cea0e93939f38", "id": 6}, {"snippet": "has the meaning provided in Section 5.01(f) hereof.", "samples": [{"hash": "dlAcb6P4IoF", "uri": "/contracts/dlAcb6P4IoF#profit", "label": "Limited Partnership Agreement (Investors Real Estate Trust)", "score": 30.1553726196, "published": true}, {"hash": "kDOWmbM9E3X", "uri": "/contracts/kDOWmbM9E3X#profit", "label": "Limited Partnership Agreement (Presidential Realty Corp/De/)", "score": 28.0308017731, "published": true}, {"hash": "x7KyEXgMo0", "uri": "/contracts/x7KyEXgMo0#profit", "label": "Third Amended and Restated Agreement of Limited Partnership (Condor Hospitality Trust, Inc.)", "score": 27.8528404236, "published": true}], "snippet_links": [], "size": 82, "hash": "d3f2e4624b2d7259faf3696e61c3937f", "id": 7}, {"snippet": "and \u201cLoss\u201d means, for each Partnership Year or other applicable period, an amount equal to the Partnership\u2019s taxable income or loss for such Partnership Year, 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:", "samples": [{"hash": "aJtIuWNEarX", "uri": "/contracts/aJtIuWNEarX#profit", "label": "Limited Partnership Agreement (Cantor Fitzgerald Income Trust, Inc.)", "score": 37.0164260864, "published": true}, {"hash": "2ypGI8ds3Jk", "uri": "/contracts/2ypGI8ds3Jk#profit", "label": "Limited Partnership Agreement (Cantor Fitzgerald Income Trust, Inc.)", "score": 31.6173858643, "published": true}, {"hash": "hmFhhrwCqzy", "uri": "/contracts/hmFhhrwCqzy#profit", "label": "Limited Partnership Agreement (CatchMark Timber Trust, Inc.)", "score": 30.1608486176, "published": true}], "snippet_links": [{"key": "partnership-year", "type": "definition", "offset": [27, 43]}, {"key": "applicable-period", "type": "clause", "offset": [53, 70]}, {"key": "to-the-partnership", "type": "clause", "offset": [88, 106]}, {"key": "taxable-income-or-loss", "type": "definition", "offset": [109, 131]}, {"key": "in-accordance-with", "type": "definition", "offset": [170, 188]}, {"key": "code-section", "type": "definition", "offset": [189, 201]}, {"key": "all-items", "type": "definition", "offset": [228, 237]}, {"key": "pursuant-to", "type": "clause", "offset": [307, 318]}], "size": 68, "hash": "4945978c5bd490692e603555f943119c", "id": 8}, {"snippet": "or \u201cLoss\u201d means for any taxable period, an amount equal to the Company\u2019s taxable income or loss for such taxable period 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)(1) of the Code shall be included in taxable income or loss), with the following adjustments:", "samples": [{"hash": "98NOlA3S1bv", "uri": "/contracts/98NOlA3S1bv#profit", "label": "Limited Liability Company Agreement (CBL & Associates Limited Partnership)", "score": 32.4004096985, "published": true}, {"hash": "c8oarUXHFpO", "uri": "/contracts/c8oarUXHFpO#profit", "label": "Framework Agreement (MPG Office Trust, Inc.)", "score": 22.8288841248, "published": true}, {"hash": "3YpRewmMrCP", "uri": "/contracts/3YpRewmMrCP#profit", "label": "Limited Liability Company Agreement (Maguire Properties Inc)", "score": 21.2436695099, "published": true}], "snippet_links": [{"key": "taxable-period", "type": "clause", "offset": [24, 38]}, {"key": "to-the-company", "type": "definition", "offset": [56, 70]}, {"key": "taxable-income-or-loss", "type": "definition", "offset": [73, 95]}, {"key": "in-accordance-with", "type": "definition", "offset": [131, 149]}, {"key": "the-code", "type": "clause", "offset": [168, 176]}, {"key": "all-items", "type": "definition", "offset": [195, 204]}, {"key": "pursuant-to-section", "type": "definition", "offset": [273, 292]}], "size": 64, "hash": "f761c6f597f94109a44a44247621588a", "id": 9}, {"snippet": "means an entity\u2019s total revenue less its operating expenses, interest paid, depreciation, and taxes. \u201cProfit\u201d is synonymous with the term \u201cnet revenue.\u201d", "samples": [{"hash": "HR5r4lm9DL", "uri": "/contracts/HR5r4lm9DL#profit", "label": "Grant Agreement", "score": 36.5523605347, "published": true}, {"hash": "iwiX8nGcFta", "uri": "/contracts/iwiX8nGcFta#profit", "label": "Grant Agreement", "score": 36.2922859192, "published": true}, {"hash": "iBx8NO3DTcq", "uri": "/contracts/iBx8NO3DTcq#profit", "label": "Grant Agreement", "score": 36.1044006348, "published": true}], "snippet_links": [{"key": "total-revenue", "type": "clause", "offset": [18, 31]}, {"key": "operating-expenses", "type": "definition", "offset": [41, 59]}, {"key": "interest-paid", "type": "definition", "offset": [61, 74]}, {"key": "the-term", "type": "definition", "offset": [129, 137]}, {"key": "net-revenue", "type": "clause", "offset": [139, 150]}], "size": 56, "hash": "a4422d1640b1a829b5300bbac9d34919", "id": 10}], "next_curs": "ClMSTWoVc35sYXdpbnNpZGVyY29udHJhY3Rzci8LEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIPcHJvZml0IzAwMDAwMDBhDKIBAmVuGAAgAA==", "definition": {"snippet": "has the meaning provided in Section 5.1(e) hereof.", "title": "Profit", "size": 2937, "id": "profit", "examples": ["This Article V and the other provisions of this Exhibit D relating to the maintenance of Capital Accounts and allocations of items of <strong>Profit</strong> and Loss are intended to comply with Regulations section 1.704-1(b), and shall be interpreted and applied in a manner consistent with those Regulations.", "Items of <strong>Profit</strong> or Loss allocable to any period shall be determined on a daily, monthly, or other basis, as determined by the Operator using any permissible method under section 706 of the Code and the related Regulations.", "If the Company does not have sufficient items of <strong>Profit</strong> and Loss to Balance Capital Accounts, the liquidator may take other actions under Section 9.3 of the Agreement as it determines are reasonably appropriate to Balance Capital Accounts, including reallocating items among the Members.", "If the Members\u2019 Membership Interests change during any taxable year of the Company, the distributive share of items of <strong>Profit</strong> or Loss of each Member shall be determined in any manner (i) permitted by section 706 of the Code, and (ii) determined by the Operator.", "This Article III provides for the allocation among the Members of items of <strong>Profit</strong> and Loss for purposes of crediting and debiting the Capital Accounts of the Members.", "If there is a net decrease in partnership minimum gain for a taxable year of the Company, each Member shall be allocated items of <strong>Profit</strong> for that year equal to that Member\u2019s share of the net decrease in partnership minimum gain, all in accordance with Regulations section 1.704-2(f).", "After the dissolution, and effective upon the liquidation of the Company, the liquidator shall cause the Capital Accounts of the Members to be restated in accordance with Section 5.1(f) to reflect any items of <strong>Profit</strong> or Loss that would be realized by the Company and allocated to the Members under Article III if the Assets were sold at the time of liquidation for their fair market values as determined under Section 5.3.", "If, during a taxable year of the Company, there is a net decrease in partner nonrecourse debt minimum gain, any Member with a share of that partner nonrecourse debt minimum gain as of the beginning of the year shall be allocated items of <strong>Profit</strong> for the year (and, if necessary, for succeeding years) equal to that partner\u2019s share of the net decrease in partner nonrecourse debt minimum gain, all in accordance with Regulations section 1.704-2(i)(4).", "In making the allocations under this Section 3.2(g), to the extent necessary to Balance Capital Accounts, Items of <strong>Profit</strong> and Loss shall be calculated on an asset-by-asset basis, and any property contributed by a Member shall be treated as a separate asset from the property contributed by or created with funds contributed by the other Member.", "Items of <strong>Profit</strong> and Loss on the sale of all or substantially all the Assets of the Company shall be allocated so that, to the extent possible, the Members\u2019 resulting Capital Account balances are in the same ratio as their relative Membership Interests (\u201cBalance Capital Accounts\u201d) after taking into account the sale."], "related": [["profits", "Profits", "<strong>Profits</strong>"], ["savings", "Savings", "Savings"], ["not-for-profit", "Not-for-Profit", "Not-for-<strong>Profit</strong>"], ["sharing", "Sharing", "Sharing"], ["not-for-profit-organization", "Not-for-Profit Organization", "Not-for-<strong>Profit</strong> Organization"]], "related_snippets": [], "updated": "2026-05-20T04:25:14+00:00"}, "json": true, "cursor": ""}}