Changes in Interests. Notwithstanding the foregoing, in the event of a change in the Venturers' Percentage Interests in the Venture during a year, whether occasioned by admission of a new Venturer, additional contributions, assignments of interests or otherwise, the allocation of items of income and expense shall be made so as to reflect the Venturers' varying Percentage Interests in the Venture during the year. Profits and losses for the year shall be prorated on a daily basis and allocated among the Venturers based upon the period of time during which they held their respective Percentage Interests.
Appears in 2 contracts
Sources: Joint Venture Agreement (Asset Investors Corp), Joint Venture Agreement (Asset Investors Corp)