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embers are provided for in the Operating Agreement and the following summary is qualified in its entirety by reference to the Operating Agreement. Allocation of Profits and Losses from Operations Allocations of Profits will generally be made as follows: (a) first, to the Members to recoup Losses previously allocated to them; (
of Capital 10 3.5 Member Loans 10 3.6 Additional Members. 10 3.7 Capital Accounts 11 ARTICLE 4 Allocation of Profits and Losses 12 4.1 Allocation of Profits and Losses 12 4.2 Special Allocations. 13 4.3 Curative Allocations 14 4.4 Code Section 704(c) Allocations 15 ARTICLE 5 Distributions 15
ship or subject such Partner to any greater proportion of losses which the Partnership may sustain. ARTICLE IV ALLOCATION OF PROFIT AND LOSS 4.1 Allocation of Profits and Losses. 4.1.1 The Partnership's Net Profit and Net Loss for any Accounting Period shall be allocated among the Partners in proportion to their Percentage
ND CAPITAL ACCOUNTS 7 3.1 Capital Accounts 7 3.2 Additional Contributions 8 3.3 Loans 9 ARTICLE IV ALLOCATION OF PROFIT AND LOSS 10 4.1 Allocation of Profits and Losses 10 4.2 Regulatory Allocations 12 ARTICLE V DISTRIBUTIONS 13 5.1 Distributions Other Than Upon Winding-Up 13 5.2 Distributions U
ship or subject such Partner to any greater proportion of losses which the Partnership may sustain. ARTICLE IV ALLOCATION OF PROFIT AND LOSS 4.1 Allocation of Profits and Losses. 4.1.1 The Partnership's Net Profit and Net Loss for any Accounting Period shall be allocated among the Partners in proportion to their Percentage
ND CAPITAL ACCOUNTS 7 3.1 Capital Accounts 7 3.2 Additional Contributions 8 3.3 Loans 9 ARTICLE IV ALLOCATION OF PROFIT AND LOSS 10 4.1 Allocation of Profits and Losses 10 4.2 Regulatory Allocations 12 ARTICLE V DISTRIBUTIONS 13 5.1 Distributions Other Than Upon Winding-Up 13 5.2 Distributions U
ship or subject such Partner to any greater proportion of losses which the Partnership may sustain. ARTICLE IV ALLOCATION OF PROFIT AND LOSS 4.1 Allocation of Profits and Losses. 4.1.1 The Partnership's Net Profit and Net Loss for any Accounting Period shall be allocated among the Partners in proportion to their Percentage
ND CAPITAL ACCOUNTS 7 3.1 Capital Accounts 7 3.2 Additional Contributions 8 3.3 Loans 9 ARTICLE IV ALLOCATION OF PROFIT AND LOSS 10 4.1 Allocation of Profits and Losses 10 4.2 Regulatory Allocations 12 ARTICLE V DISTRIBUTIONS 13 5.1 Distributions Other Than Upon Winding-Up 13 5.2 Distributions U
Company or subject such Member to any greater proportion of losses which the Company may sustain. ARTICLE IV ALLOCATION OF PROFIT AND LOSS 4.1 Allocation of Profits and Losses. 4.1.1 The Company's Net Profit and Net Loss for any Accounting Period shall be allocated among the Members in proportion to their Percentage Inter
D CAPITAL ACCOUNTS 8 3.1 Capital Accounts 8 3.2 Additional Contributions 9 3.3 Loans 10 ARTICLE IV ALLOCATION OF PROFIT AND LOSS 10 4.1 Allocation of Profits and Losses 10 4.2 Regulatory Allocations 11 ARTICLE V DISTRIBUTIONS 13 5.1 Distributions Other Than Upon Winding-Up 13 5.2 Distributions U
Entities connected to both Allocation of Profits and Losses and Allocation of Profits
Accounting Period
ORGANIZATIONReliance
ORGANIZATIONthe Offered Interests
ORGANIZATIONLeon Black
PERSONOccasioning Dissolution
LOCATIONthe Offer Price
ORGANIZATIONCertificate of Formation
ORGANIZATIONPurchase
LOCATIONNet Profit
ORGANIZATIONthe United States Treasury
LOCATIONNet Profit and Net Loss
ORGANIZATIONFederal, State
ORGANIZATIONUniform Transfers to Minors Act
ORGANIZATIONthe Person or Persons
ORGANIZATIONthe Treasury Regulations
ORGANIZATIONthe Partnership any Net Loss
ORGANIZATIONLimited Partner's Partnership Interests
ORGANIZATIONWithdrawing Partner
PERSON
Wilmington
LOCATIONElysium Management LLC
ORGANIZATION