Assignment During Fiscal Year. If a Partner’s interest in the Partnership is transferred at any time other than at the end of a fiscal year of the Partnership, each item of income, gain, loss, deduction and credit attributable to such interest for the fiscal year in which the transfer occurs shall be divided and allocated between the transferor and the transferee based on any reasonable method permitted under Section 706 of the Code as determined by the General Partner.
Appears in 3 contracts
Sources: Partnership Agreement, Limited Partnership Agreement, Limited Partnership Agreement