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Ultimate Net Loss
Ultimate Net Loss contract clause examples

The territorial limits of this Contract shall be identical with those of the Company’s Policies.

Net Loss Limitation. Any Net Loss allocated pursuant to [Section 6.2B] will not exceed the maximum amount of Net Loss that can be so allocated without causing any Holder to have an Adjusted Capital Account Deficit at the end of any Fiscal Year. In the event that any but not all of the Holders would have an Adjusted Capital Account Deficit as a consequence of an allocation of Net Loss pursuant to [Section 6.2B], the limitation set forth in the immediately preceding sentence will be applied on a Holder-by-Holder basis so as to allocate the maximum permissible Net Loss to each Holder under Treasury Regulation Section 1.704-1(b)(2)(ii)(d).

Net Loss. Net Loss shall be allocated, subject, however, to the limitation set forth in [Section 6.2C], to the Non-AIR Holders in proportion to the Non-AIR Holders Sharing Percentage, and to the AIR Partners in proportion to the AIR Partners Sharing Percentage, on a pari passu basis.

The territorial limits of this Contract shall be identical with those of the Company’s Policies.

No Net Loss. Measured as of the end of each fiscal year for the four (4) fiscal quarter period then-ended, Net Income of greater than $0.

The territorial limits of this Contract shall be identical with those of the Company’s Policies.

Ultimate Net Loss” shall mean the actual loss, including any pre-judgment interest which is included as part of the award or judgment, “Second Injury Fund” assessments that can be allocated to specific claims, Loss Adjustment Expense, 90% of Loss in Excess of Policy Limits, and 90% of Extra Contractual Obligations, paid or to be paid by the Company on its net retained liability after making deductions for all recoveries, subrogations and all claims on inuring reinsurance, whether collectible or not; provided, however, that in the event of the insolvency of the Company, payment by the Reinsurer shall be made in accordance with the provisions of the Insolvency Article. Nothing herein shall be construed to mean that losses under this Contract are not recoverable until the Company’s Ultimate Net Loss has been ascertained. As respects large deductible Policies, Ultimate Net Loss shall be net of any applicable deductible.

Ultimate Net Loss” shall mean the actual loss, including any pre-judgment interest which is included as part of the award or judgment, “Second Injury Fund” assessments that can be allocated to specific claims, Loss Adjustment Expense, 90% of Loss in Excess of Policy Limits, and 90% of Extra Contractual Obligations, paid or to be paid by the Company on its net retained liability after making deductions for all recoveries, subrogations and all claims on inuring reinsurance, whether collectible or not; provided, however, that in the event of the insolvency of the Company, payment by the Reinsurer shall be made in

Net Loss. After giving effect to the special allocations set forth in [Sections 6.1(d) and (e)])] and any allocations to other Partnership Interests, Net Loss for each taxable period and all items of income, gain, loss, deduction and Simulated Gain taken into account in computing Net Loss for such taxable period shall be allocated as follows:

Net Loss. After giving effect to the special allocations set forth in [Section 1 of Exhibit C] of the Company Agreement and any special allocations required to be made pursuant to Sections 6.1.E, Net Loss shall be allocated:

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