Common use of Allocation of Income and Loss Distributions Clause in Contracts

Allocation of Income and Loss Distributions. 8.1 Capital Accounts. Each Partner shall have a capital account to which such Partner’s Capital Contribution shall be credited, which capital account shall be maintained in the manner provided in United States Treasury Regulations § 1.704-1(b)(2)(iv), as amended from time to time. Each Partner’s share of the income or loss of the Partnership shall be credited or charged at least annually to such Partner’s capital account. All distributions to a Partner shall be charged to such Partner’s capital account. If property other than cash is distributed by the Partnership, the capital accounts of the Partners shall be adjusted to reflect how much gain or loss would have been allocated to the respective Partners if the property had been sold at the value or values assigned thereto for purposes of making the distribution. No interest shall be payable on the capital accounts of the Partners.

Allocation of Income and Loss Distributions. 8.1 Capital Accounts. Each Partner shall have a capital account to which such Partner’s Capital Contribution shall be credited, which capital account shall be maintained in the manner provided in United States Treasury Regulations § 1.704-1(b)(2)(iv), as amended from time to time. Each Partner’s share we of the income or loss of the Partnership shall be credited or charged at least annually to such Partner’s capital account. All distributions to a Partner shall be charged to such Partner’s capital account. If property other than cash is distributed by the Partnership, the capital accounts of the Partners shall be adjusted to reflect how much gain or loss would have been allocated to the respective Partners if the property had been sold at the value or values assigned thereto for purposes of making the distribution. No interest shall be payable on the capital accounts of the Partners.