ACCOUNTING PERIODS AND TAXABLE YEARS. An accounting period and taxable year shall mean the calendar year, except that the last accounting period and taxable year shall mean the period ending with the termination of the Partnership.
ACCOUNTING PERIODS AND TAXABLE YEARS. An accounting period and taxable year shall mean the calendar year, or, in the case of the first and last accounting period and taxable year of the Partnership, the fraction thereof commencing on the Closing or ending on the date on which the winding-up of the Partnership is completed, as the case may be. The taxable year of the Partnership shall be determined under Section 706 of the Code. The General Partner shall have the authority to change the ending date of the fiscal Year if the General Partner shall determine that such change is necessary or appropriate; PROVIDED that the General Partner shall promptly give notice of any such change to the Limited Partners.
