Common use of Calculation of Allocation Percentages Clause in Contracts

Calculation of Allocation Percentages. Within two (2) weeks from completion of the audit of the Accounts in any Financial Year and provided that the Accounts show an Adjusted Global Net Income for such Financial Year, the Partnership shall calculate the Allocation Percentages for that Financial Year (the date of such calculation, the “Allocation Percentage Calculation Date”). For the purposes of calculating the Allocation Percentages for any Financial Year, the Adjusted Global Net Income, if any, for that Financial Year shall be allocated notionally as between the RBS Member Group and the Sempra Member Group in the following priority to the extent of such available income: 7.1.1 first, to the Sempra Member Group, the Sempra Member Group’s Unallocated Preferred Return, if any, as provided in Clause 7.6.1; 7.1.2 second, to the Sempra Member Group, the Sempra Member Group’s Preferred Return; 7.1.3 third, to the RBS Member Group, the RBS Member Group’s Unallocated Preferred Return, if any, as provided in Clause 7.6.2; 7.1.4 fourth, to the RBS Member Group, the RBS Member Group’s Preferred Return; 7.1.5 fifth, to the Sempra Member Group, the Sempra Member Group’s Allocation of Tranche 1; 7.1.6 sixth, to the RBS Member Group, the RBS Member Group’s Allocation of Tranche 1; 7.1.7 seventh, to the Sempra Member Group, the Sempra Member Group’s Allocation of Tranche 2; and 7.1.8 eighth, to the RBS Member Group, the RBS Member Group’s Allocation of Tranche 2.