Allocations and Distributions. Subject to applicable Regulations, upon the transfer of all the Partnership Interests of a Partner as herein provided, the Profit or Loss of the Partnership attributable to the Partnership Interests so transferred for the Fiscal Year in which such transfer occurs shall be allocated between the transferor and transferee as of the effective date of the assignment, and such allocation shall be based upon any permissible method agreed to by the Partners that is provided for in Code Section 706 and the Regulations issued thereunder.
Appears in 29 contracts
Samples: Original Agreement (Howard Midstream Partners, LP), Original Agreement (Howard Midstream Partners, LP), Hess Midstream Partners LP
Allocations and Distributions. Subject to applicable Regulations, upon the transfer of all the Partnership Interests of a Partner as herein provided, the Profit or Loss of the Partnership attributable to the Partnership Interests so transferred for the Fiscal Year in which such transfer occurs shall be allocated between the transferor and transferee as of the effective date of the assignment, and such allocation shall be based upon any permissible method agreed to that is determined by the Partners General Partner and that is provided for in Code Section 706 and the Regulations issued thereunder.
Appears in 2 contracts
Samples: Midcoast Energy Partners, L.P., Midcoast Energy Partners, L.P.
Allocations and Distributions. Subject to applicable Treasury Regulations, upon the transfer of all the Partnership Interests of a Partner as herein provided, the Profit or Loss of the Partnership attributable to the Partnership Interests so transferred for the Fiscal Year in which such transfer occurs shall be allocated between the transferor and transferee as of the effective date of the assignment, and such allocation shall be based upon any permissible method agreed to by the Partners that is provided for in Code Section 706 and the Treasury Regulations issued thereunder.
Appears in 1 contract
Samples: MPLX Lp