General Allocation of Profits and Losses. Except as otherwise provided in this Article 7, after giving effect to any and all allocations set forth in Section 7.4 below, all Profits and Losses of the Partnership (including all items of income and expense entering into the determination of such Profits and Losses), as finally determined for Federal income tax purposes for each fiscal year of the Partnership, shall be allocated to and among the Partners in accordance with their respective Percentage Interests.
General Allocation of Profits and Losses. After taking into account any special allocations pursuant to Section 4.02 and subject to any limitations contained therein, Profits and Losses for any year or portion thereof shall be allocated among the Partners in accordance with this Section 4.01.
General Allocation of Profits and Losses. After giving effect to the special allocations set forth in Sections 5.3 through 5.6 hereof, the Profits and Losses for any fiscal year, or portion thereof, as applicable, shall be allocated to the Partners in accordance with the Partnership Percentages of the respective Partners.
General Allocation of Profits and Losses. After taking into account any special allocations pursuant to Section 4.02 and subject to any limitations contained therein, Profits, Losses and, to the extent necessary, individual items of income, gain, loss or deduction, of the Company shall be allocated among the Members in a manner such that the Capital Account of each Member, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to the distributions that would be made to such Member if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Book Value, all Company liabilities were satisfied (limited with respect to each nonrecourse liability to the Book Value of the assets securing such liability), and the net assets of the Company were distributed in accordance with Article III to the Members immediately after making such allocation.
General Allocation of Profits and Losses. 7.2 Allocations with Respect to Transferred Interests........................................................... 7.3
General Allocation of Profits and Losses. (a) Except as otherwise provided in this Section 9.01, profits and losses of the Company will be allocated pro rata among the Members in accordance with their respective Percentage Interests.
General Allocation of Profits and Losses. Except as otherwise provided in this Agreement or the Joint Agreement, the profits and losses of the Partnership arising during any taxable year of the Partnership shall be allocated among the Partners in accordance with their respective Partnership Percentages; provided, however, that in accordance with Section 704(c) of the Code and the Treasury Regulations thereunder, income, gain, loss, and deduction with respect to any property contributed to the capital of the Partnership shall, solely for tax purposes, be allocated among the Partners so as to take account of any variation between the adjusted basis of PATRXXXX X. XXXXX & XSSOCIATES A PROFESSIONAL LAW CORPORATION GENERAL PARTNERSHIP AGREEMENT such property to the Partnership for federal income tax purposes and its agreed upon fair market value at the time of contribution.
General Allocation of Profits and Losses. Except as otherwise provided in this Article 7, after giving effect to any and all special allocations set forth in Sections 7.4 and 7.5 below (including, without limitation, special allocations to holders of LTIP Units pursuant to Section 7.4(g), (h) and (i)), all Profits and Losses of the Partnership (including all items of income and expense entering into the determination of such Profits and Losses), as finally determined by the Accountants for Federal income tax purposes for each fiscal year of the Partnership, shall be allocated to and among the Partners in accordance with their respective Percentage Interests. For purposes of determining allocations of Profits and Losses pursuant to this Section 7.1, to the extent that the LTIP Unit Distribution Participation Date with respect to an LTIP Unit has occurred, such LTIP Unit shall be treated as an OP Unit. Until the LTIP Unit Distribution Participation Date for such LTIP Unit has occurred, such LTIP Unit shall be treated as a fraction of one outstanding OP Unit equal to one OP Unit multiplied by the LTIP Unit Initial Regular Sharing Percentage or the LTIP Unit Initial Special Sharing Percentage with respect to such LTIP Unit, as applicable.
General Allocation of Profits and Losses. Except as set forth below, all Profits and Losses of the Company for each fiscal year, computed in accordance with generally accepted accounting principles, consistently applied, shall be allocated among the Members during such fiscal year in accordance with their Membership Interests. "Profits or Losses" means for a given fiscal period, an amount equal to the Company's taxable income or loss for such period, determined in accordance with the Code Section 703(a), provided however, any items which are specially allocated pursuant to Section 7(b)(ii) shall not be taken into account in computing Profits or Losses.
General Allocation of Profits and Losses. (a) Subject to the special allocations set forth in Section 9.2, Profits and Losses (and, to the extent necessary, individual items of income, gain, loss, deduction or credit) of the Company for any Fiscal Year or other applicable period shall be allocated among the Members in a manner such that the Capital Account balance of each Member, immediately after making such allocation, is, as nearly as possible equal (proportionately) to (i) the distributions that would be made to such Member if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Gross Asset Values, all Company liabilities were satisfied and the net assets of the Company were distributed to the Members in accordance with Section 8.1, minus (ii) such Member’s share of Company Minimum Gain and Member Nonrecourse Debt Minimum Gain computed immediately prior to such hypothetical sale.
