Common use of Allocations for Capital Account and Tax Purposes Clause in Contracts

Allocations for Capital Account and Tax Purposes. Notwithstanding any provision in this Agreement, Net Income and Net Loss attributable to the XxXxx Interest (and all items of income, gain, loss, deduction and credit taken into account in computing Net Income and Net Loss attributable to the XxXxx Interest), including Net Income and Net Loss attributable to the XxXxx Interest in connection with a liquidation of the Partnership and Net Income and Net Loss attributable to the XxXxx Interest for federal income tax purposes, shall be allocated 100% to the Class B, Series 1 Limited Partners based on the relative percentage ownership of the Class B, Series 1 Limited Partners in the Class B, Series 1 Units.

Allocations for Capital Account and Tax Purposes. Notwithstanding any provision in this the Limited Partnership Agreement, Net Income and Net Loss attributable to the XxXxx Interest (and all items of income, gain, loss, deduction and credit taken into account in computing Net Income and Net Loss attributable to the XxXxx Interest), including Net Income and Net Loss attributable to the XxXxx Interest in connection with a liquidation of the Partnership and Net Income and Net Loss attributable to the XxXxx Interest for federal income tax purposes, shall be allocated 100% to the Class B, Series 1 Limited Partners based on the relative percentage ownership of the Class B, Series 1 Limited Partners in the Class B, Series 1 Units.