Allocation of Income or Loss. In General. Income and loss of the Partnership shall be determined in accordance with the rules for determining federal taxable income and loss. With respect to each fiscal year the General Partner shall be allocated the percentage of all amounts of income, gain, loss or deduction for the year determined pursuant to regulations promulgated under the Code, subject to the provisions of this Article VIII.
Allocation of Income or Loss. After the allocations made in accordance with Section 5.2, Net Income or Net Loss (and items thereof) for each fiscal year of the Company shall be allocated among the Members in accordance with their then respective Percentage Interests. As used herein with respect to any Member, the term "Percentage Interest" shall mean the percentage equal to the product of (a) one hundred (100) and (b) a fraction the numerator of which is the number of Membership Units held by a Member and the denominator of which is the total number of Membership Units held by all Members. For this purpose, "Net Income" and "Net Loss" shall mean the Company's taxable income or loss determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be separately stated pursuant to Section 703(a)(1) of the Code shall be included in taxable income or loss), with the following modifications: (i) any income of the Company that is exempt from income tax and not otherwise taken into account in computing Net Income or Net Loss shall be added to such taxable income or loss; and (ii) any expenditures of the Company described in Section 705(a)(2)(B) of the Code or treated as Section 705(a)(2)(B) expenditures pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(i) and not otherwise taken into account in computing Net Income or Net Loss shall be subtracted from such taxable income or loss. If during any fiscal year of the Company there is a change in any Member's Percentage Interest, then for purposes of complying with Code Section 706(d), the determination of Company items allocable to any period shall be made by using any method permissible under Code Section 706(d) and the Treasury Regulations thereunder. The Members agree to be bound by the provisions of this
Allocation of Income or Loss. The net income or loss and income or loss for tax purposes of the Fund for each fiscal year shall be allocated between the General Partner and the Limited Partners and among the Limited Partners by the General Partner in its sole discretion in accordance with the economics of this Agreement. In so allocating the net income or loss and income or loss for tax purposes, the General Partner shall act reasonably and fairly, taking into account the amount and timing of actual and anticipated distributions to each of the Partners, with a view to ensuring that, over the term of the Fund, each Partner is allocated a portion of the Fund’s net income or loss and income or loss for tax purposes that substantially corresponds to the income that is distributed to or loss that is borne by that Partner, in the absence of circumstances that warrant a different result. Subject to the foregoing, the amount of net income or loss and income or loss for tax purposes of the Fund for a fiscal year allocated to the Limited Partners shall generally be allocated among the Limited Partners in proportion to their respective Units on a monthly basis, taking into account any factors as the General Partner may in its sole discretion determine are fair and reasonable under the circumstances. All such allocations by the General Partner shall be final and binding on all the Limited Partners.
Allocation of Income or Loss. The net income or net loss of the Partnership for each Fiscal Year, and each item of Partnership income, gain, loss and deduction as computed for federal income tax purposes, shall be allocated to the Partners prorata in accordance with their respective Partnership Percentage Interests.
Allocation of Income or Loss. (a) Section 4.01 of the Agreement is hereby amended and restated in its entirety as follows:
Allocation of Income or Loss. Any income or loss incurred by the ---------------------------- Company for any Fiscal Year shall be allocated among the Members in accordance with Exhibit D hereto.
Allocation of Income or Loss. In General. Income and loss of the Partner-ship shall be determined in accordance with the rules for determining federal taxable income and loss. With respect to each fiscal year the General Partner shall be allocated the percent-age of all amounts of income, gain, loss or deduction for the year determined pursuant to regulations promulgated under the Code, subject to the provisions of this Article VIII.
Allocation of Income or Loss. Subject to paragraph 8.03, for accounting and tax purposes, the net income or loss of the Partnership for each financial year shall be allocated to the Partners at the end of each fiscal year in accordance with their respective Proportionate Shares (determined at the end of the fiscal year).
Allocation of Income or Loss. Profits and Losses of the Partnership shall be determined in accordance with the rules of Subchapter K of the Code. After giving effect to the special allocations set forth in Sections 8.5 and 8.6 hereof, the Profits and Losses of the Partnership with respect to each fiscal year shall be allocated to the General Partner in an amount equal to the General Partner’s Percentage Interest, and to the Limited Partners in an amount equal to the aggregate Limited Partner’s Percentage Interest. If property other than cash is distributed by the Partnership, the Capital Accounts of the Partners shall be adjusted to reflect how much Profit or Loss would have been allocated to the respective Partners if the property had been sold at the value or values assigned thereto for purposes of making the distribution. Allocations among the Limited Partners shall be based on the number of Units, or fraction thereof, owned by each Limited Partner.
Allocation of Income or Loss. (1) The Net Income of the Limited Partnership for each Fiscal Year will be allocated as of the end of such Fiscal Year among the Partners at that time as follows:
