Allocations Among Unit Holders Clause Samples

Allocations Among Unit Holders. A. Allocations of costs, expenses and Revenues to the Unit Holders other than Substituted Limited Partners herein shall be actually allocated to the Depositary for the account of the Unit Holders. All profits and losses and each item of Revenues, gain, loss, cost, deduction or credit allocated to the Unit Holders, as a class, shall be allocated to each Unit Holder in the ratio that (i) the number of Units held of record by each Unit Holder as of the first day of each month during the period ("Monthly Record Date") bears to (ii) the aggregate number of Units outstanding on each such Monthly Record Date. Distributions pursuant to Section 5.7 hereof will be made to Unit Holders of record on the first day of the calendar quarter to which the distribution relates in the ratio which (x) the number of Units owned of record by each Unit Holder on such date bears to (y) the aggregate number of Units outstanding on such date. Such payment shall constitute full payment and satisfaction of the Partnership's liability in respect of such payment regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise. B. Except as provided in subsections (i) through (iv) of this Section 5.3B, in the case of a change in a Unit Holder's interest in the Partnership during a taxable year of the Partnership, all Partnership Revenues, gain, loss, deduction or credit allocable to the Unit Holders shall be allocated pursuant to Section 5.3A above to the Persons who were Unit Holders during the period to which such item is attributable in accordance with the Unit Holders' interests in the Partnership during such period regardless of when such item is paid or received by the Partnership. (i) With respect to certain "allocable cash basis items" (as such term is defined in the Code) of Partnership Revenues, gain, loss, deduction or credit, if, during any taxable year of the Partnership there is change in any Unit Holder's interest in the Partnership, then, except to the extent provided in regulations prescribed under Section 706 of the Code, each Unit Holder's allocable share of any "allocable cash basis item" shall be determined by (i) assigning the appropriate portion of each such item to each day in the period to which it is attributable, and (ii) allocating the portion assigned to any such day among the Unit Holders in proportion to their interests in the Partnership at the close of such day. (ii) If, by adhering to the method of al...