Transfers of Interest. Each item of income, gain, loss, deduction and credit allocable to any Interest transferred during a quarter shall be allocated between the transferor and transferee in proportion to the number of days during the quarter for which each was the owner of the Interest, without regard to the results of Partnership operations during the portions of the quarter the transferor and transferee owned the Interest. Distributions attributable to the ownership of a transferred Interest shall be paid to the Person who owned the Interest on the last day of the calendar month preceding the date of the distribution.
Appears in 4 contracts
Samples: Credit Agreement (Lyondell Chemical Co), Limited Partnership Agreement (Lyondell Chemical Co), Revolving Credit Agreement (Lyondell Chemical Co)
