Common use of Gross Income Allocations Clause in Contracts

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v) were not in this Agreement.

Appears in 12 contracts

Samples: Agreement (Ferrellgas L P), Ferrellgas Finance Corp, Ferrellgas Partners Finance Corp

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Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, period such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v5.1(d)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v5.1(d)(iv) were not in this Agreement.

Appears in 6 contracts

Samples: Partnership Agreement (Ferrellgas Finance Corp), Ferrellgas Partners Finance Corp, Contribution Agreement (Eott Energy Canada Lp)

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account adjusted capital account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(vsubsection 4.2(b)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account adjusted capital account after all other allocations provided for in this Section 5.1 4.2 have been tentatively made as if this Section 5.1(d)(vsubsection 4.2(b)(v) were not in this the Agreement.

Appears in 5 contracts

Samples: Agreement and Plan of Merger (Crestwood Midstream Partners LP), Agreement and Plan of Merger (Duncan Energy Partners L.P.), Agreement and Plan of Merger

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v5.1(b)(iii) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v5.1(b)(iii) were not in this the Agreement.

Appears in 4 contracts

Samples: Agreement (Capmark Finance Inc.), MBOW Four Star, L.L.C., East Coast Power LLC

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account adjusted capital account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(vsubsection 5.01(b)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account adjusted capital account after all other allocations provided for in this Section 5.1 5.01 have been tentatively made as if this Section 5.1(d)(vsubsection 5.01(b)(iv) were not in this the Agreement.

Appears in 4 contracts

Samples: Duncan Energy Partners L.P., Duncan Energy Partners L.P., Duncan Energy Partners L.P.

Gross Income Allocations. (A) In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially specifically allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v5.1(e)(iv)(A) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v5.1(e)(iv)(A) were was not in this Agreement.

Appears in 3 contracts

Samples: El Paso Corp/De, Gulfterra Energy Partners L P, El Paso Energy Partners Lp

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable periodperiod in excess of the sum of (A) the amount such Partner is required to restore pursuant to the provisions of this Agreement and (B) the amount such Partner is deemed obligated to restore pursuant to Treasury Regulation Sections 1.704-2(g) and 1.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v) were not in this Agreement.this

Appears in 2 contracts

Samples: Williams Energy Partners L P, Plains All American Pipeline Lp

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v) 5.1.4.5 shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account in excess of such sum after all other allocations provided for in this Section 5.1 have been tentatively made as if Section 5.1.4.4 and this Section 5.1(d)(v) 5.1.4.5 were not in this Agreement.;

Appears in 2 contracts

Samples: Kaneb Pipe Line Partners L P, Kaneb Pipe Line Partners L P

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account adjusted capital account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(vsubsection 5.01(b)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account adjusted capital account after all other allocations provided for in this Section 5.1 5.01 have been tentatively made as if this Section 5.1(d)(vsubsection 5.01(b)(v) were not in this the Agreement.

Appears in 2 contracts

Samples: Duncan Energy Partners L.P., Duncan Energy Partners L.P.

Gross Income Allocations. (i) In the event any Partner has a deficit balance in its an Adjusted Capital Account Deficit at the end of any Partnership taxable periodTaxable Year, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess deficit balance as quickly as possible; provided, that that, an allocation pursuant to this Section 5.1(d)(v5.2(a) shall be made only if and to the extent that such Partner would have a deficit balance in its an Adjusted Capital Account Deficit balance after all other allocations provided for in this Section 5.1 Article V have been tentatively made as if this Section 5.1(d)(v) were not in this Agreementmade.

Appears in 2 contracts

Samples: Registration Rights Agreement (Plains Gp Holdings Lp), Registration Rights Agreement (Plains All American Pipeline Lp)

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v5.1(c)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v5.1(c)(iv) were not in this Agreement.

Appears in 2 contracts

Samples: Agreement, Agreement (Kinder Morgan Energy Partners L P)

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Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account as adjusted after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v) were not in this Agreement.

Appears in 2 contracts

Samples: ONEOK Partners LP, ONEOK Partners LP

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, period such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v5.1(d)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v) were not in this Agreement.would

Appears in 1 contract

Samples: Contribution Agreement (Eott Energy Canada Lp)

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v5.1(d)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account as adjusted after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v5.1(d)(iv) were not in this Agreement.

Appears in 1 contract

Samples: ONEOK Partners LP

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(vparagraph b(iv) of this Article XII shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 Article XII have been tentatively made as if this Section 5.1(d)(vparagraph b(iv) were was not in this Agreement.. (v)

Appears in 1 contract

Samples: Emeritus Corp\wa\

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, period such Partner shall be specially allocated items of Partnership gross gross. income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v5.1(d)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v5.1(d)(iv) were not in this Agreement.

Appears in 1 contract

Samples: Ferrellgas Partners Finance Corp

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account adjusted capital account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(vsubSection 4.2(b)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account adjusted capital account after all other allocations provided for in this Section 5.1 4.2 have been tentatively made as if this Section 5.1(d)(vsubSection 4.2(b)(v) were not in this the Agreement.

Appears in 1 contract

Samples: Agreement of Limited Partnership (Crestwood Midstream Partners LP)

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period, such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.1(d)(v5.1 (d)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided for in this Section 5.1 have been tentatively made as if this Section 5.1(d)(v5.1(d)(iv) were not in this Agreement.

Appears in 1 contract

Samples: Administrative Services Agreement (Northern Border Partners Lp)

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