Allocation of Losses. Net losses for each taxable year of the Company shall be allocated to the Members in proportion to their respective positive Capital Account balances as of the end of such taxable year until such Capital Accounts have returned to zero, and thereafter equally among the Members.
Appears in 43 contracts
Samples: Limited Liability Company Operating Agreement (Rousselot Dubuque Inc.), Limited Liability Company Operating Agreement (Town Sports International Inc), Company Operating Agreement (Town Sports International Inc)