Common use of Subsequent Allocations Clause in Contracts

Subsequent Allocations. Any special allocations of items of income, gain, loss or expense made pursuant to this Section 6.5 shall be taken into account in computing subsequent allocations of income, gain, loss and expense pursuant to Section 6.2, so that the net amount of any item of income, gain, loss and expense allocated to each Partner pursuant to Section 6.2 and this Section 6.5 shall, to the extent possible, be equal to the amount of the items of income, gain, loss and expense that would have been allocated to the Partner pursuant to Section 6.2 if the special allocations of income, gain, loss or expense required by this Section 6.5 had not been made.

Appears in 2 contracts

Sources: Partnership Agreement (NGAS Resources Inc), Limited Partnership Agreement (NGAS Resources Inc)