Profits, Losses and Tax Credits. (a) Subject to Section 10.1(c) and Section 10.4, for each Part nership fiscal year or portion thereof, all profits, tax-exempt income, losses, non-deductible non-capitalizable expenditures, and tax credits incurred or accrued on or after the Commencement Date, other than those arising from a Capital Transaction, shall be allocated 99% to the Investment Limited Partner and 1% to the General Partners.
Profits, Losses and Tax Credits. (a) Subject to the provisions of Section 10.1(b) and Section 10.4, for each Partnership Fiscal Year or portion thereof, all Operating Profits and Losses, tax-exempt income, losses, non-deductible non-capitalizable expenditures and Tax Credits incurred or accrued on or after the Commencement Date shall be allocated ninety-nine percent (99%) to the Investment Limited Partner and one percent (1%) to the General Partner, provided, however, that in any Fiscal Year in which Operating Profits are generated, such Operating Profits shall be allocated to and among the Partners in the same percentages as distributions of Cash Flow are made pursuant to Clause Sixth of Section 10.2(a).
Profits, Losses and Tax Credits. (a) Except as otherwise specifically provided in this Article, for each Partnership fiscal year or portion thereof, all profits, tax- exempt income, losses, non-deductible non-capitalizable expenditures, and tax credits incurred or accrued on or after the Commencement Date, other than those arising from a Capital Transaction, shall be allocated 99% to the Investment Limited Partner and l% to the General Partners.
Profits, Losses and Tax Credits. (a) Subject to the provisions of Section 10.1(b) and Section 10.4, for each Partnership Fiscal Year or portion thereof, all Operating Profits and Losses, tax-exempt income, losses, non- deductible non-capitalizable expenditures and Tax Credits incurred or accrued on or after the Commencement Date shall be allocated ninety-nine and ninety-nine one hundredths percent (99.99%) to the Investment Limited Partner and one one-hundredth of one percent (0.01%) to the General Partner.
Profits, Losses and Tax Credits. (a) Except as otherwise specifically provided in this Article, for each calendar year or portion thereof occurring on or after the Effective Date, all profits, gains, tax-exempt income, losses, deductions, non-deductible non-capitalizable expenditures (including but not limited to Section 705(a)(2)(B) expenditures as determined under Treasury Regulation ss 1.704-1(b)(2)(iv)(i) or any amendment or successor to such Regulation), and tax credits, other than those arising from a Capital Transaction, shall be allocated 99% to the Investment Limited Partners (in accordance with their Percentage Interests) and 1% to the General Partners.
Profits, Losses and Tax Credits. (a) Subject to Section 10.1(c) and Section 10.4 hereof, for each Partnership fiscal year or portion thereof, (i) all profits, tax-exempt income, losses, non-deductible non-capitalizable expenditures and Tax Credits incurred or accrued on or after the Commencement Date, other than those arising from a Capital Transaction, shall be allocated 99% to the Investment Limited Partner and 1% to the General Partners and (ii) all Missouri Low- Income Housing Tax Credits allocated on or after the Commencement Date shall be allocated 100% to the Missouri Limited Partner. Notwithstanding the foregoing however, to the extent that the Accountants, the Auditors, the Tax Accountants and/or the Service reach the conclusion that the allocation of 100% of the Missouri Low-Income Housing Tax Credits to the Missouri Limited Partner could lead to the allocation or distribution of any Partnership item in a ratio different from that otherwise provided herein, the allocation of the Missouri Low-Income Housing Tax Credits shall be altered so as to eliminate any such effect upon the allocation or distribution of any other Partnership item.
Profits, Losses and Tax Credits. (a) Loss Allocations. After giving effect to the special allocations set forth in Section 9.02, Losses for any Fiscal Year shall be allocated among all of the Members in accordance with their respective Percentage Interests until the cumulative Losses allocated pursuant to this Section 9.01(a) for such Fiscal Year and all previous Fiscal Years is equal to the sum of each Member's original Capital Account plus the cumulative Profits allocated to such Member pursuant to Section 901(b)(ii) for all previous years, except that Losses shall not be allocated hereunder to the extent such allocation would violate the restriction on loss allocations set forth in Section 9.01(d).
Profits, Losses and Tax Credits. (a) Except as otherwise specifically provided in this Section, for each fiscal year or portion thereof, (i) all profits, tax-exempt income, losses, Tax Credits and non-deductible, non-capitalizable expenditures incurred and/or accrued by the Partnership, other than those arising from a Capital Transaction, shall be allocated 99% to the Investor Limited Partners and 1% to the General Partner.
Profits, Losses and Tax Credits. (a) Subject to Section 10.1(c) and Section 10.4 hereof, for each Partnership fiscal year or portion thereof, all profits, tax-exempt income, non-deductible non-capitalized expenditures, losses and tax credits incurred or accrued on or after the Sixth Commencement Date, other than those arising from a Capital Transaction, shall be allocated 11.56% to the Class A Limited Partner, 38.81% to the Class B Limited Partner, 21.60% to the Class C Limited Partner, 27.03% to the Class D Limited Partner and 1% to the Administrative General Partner. Notwithstanding the foregoing, however, in any fiscal year commencing with 1996 in which the Managing General Partner receives a distribution of Cash Flow in accordance with the provisions of Clause Ninth of Section 10.2(a), the Managing General Partner shall also be allocated an amount of gross income from the Partnership in an amount equal to the amount of such distribution of Cash Flow.
Profits, Losses and Tax Credits
