Additional Allocations. Notwithstanding the foregoing, if, upon the final dissolution and termination of the Partnership and after taking into account all allocations of Net Income and Net Losses (and other tax items) under this Article IV, the distributions to be made in accordance with the positive Capital Account balances would result in a distribution that would be different from a distribution under Article XIII, then gross items of income and gain (and other tax items) for the taxable year of the final dissolution and termination (and, to the extent permitted under section 761(c) of the Code, gross items of income and gain, and other tax items, for the immediately preceding taxable year) shall be allocated to the Partners to increase or decrease their respective Capital Account balances so that the final distribution will occur in the same manner as a distribution under Section 13.4.
Appears in 11 contracts
Samples: Agreement of Limited Partnership (Merrill Lynch Preferred Capital Trust Ii), Agreement of Limited Partnership (Enron Preferred Funding Ii L P), Agreement of Limited Partnership (Enron Capital Trust I)
Additional Allocations. Notwithstanding the foregoing, if, upon the final dissolution and termination of the Partnership and after taking into account all allocations of Net Income and Net Losses Loss (and other tax itemsTax Items) under this Article IVV, the distributions to be made in accordance with the positive Capital Account balances would result in a distribution that would be different from a distribution under Article XIIISection 6.3 hereof, then gross items of income and gain (and other tax itemsTax Items) for the taxable year of the final dissolution and termination (and, to the extent permitted under section 761(c) of the Code, gross items of income and gain, gain (and other tax items, Tax Items) for the immediately preceding taxable year) shall be allocated to the Partners to increase or decrease their respective Capital Account balances balances, as the case may be, so that the final distribution will occur in the same manner as a distribution under Section 13.46.3 hereof.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Trump Hotels & Casino Resorts Funding Inc), Limited Partnership Agreement (Trump Hotels & Casino Resorts Inc), Limited Partnership Agreement (Trump Donald J)
Additional Allocations. Notwithstanding the foregoing, if, upon the final dissolution and termination of the Partnership and after taking into account all allocations of Net Income and Net Losses Loss (and other tax itemsTax Items) under this Article IVSection 9, the distributions to be made in accordance with the positive Capital Account balances would result in a distribution that would be different from a distribution under Article XIIISection 10.3 hereof, then gross items of income and gain (and other tax itemsTax Items) for the taxable year of the final dissolution and termination (and, to the extent permitted under section Section 761(c) of the Code, gross items of income and gain, gain (and other tax items, Tax Items) for the immediately preceding taxable year) shall be allocated to the Partners to increase or decrease their respective Capital Account balances balances, as the case may be, so that the final distribution will occur in the same manner as a distribution under Section 13.410.3 hereof.
Appears in 2 contracts
Samples: Partnership Agreement (Trump Communications LLC), Partnership Agreement (Trump Communications LLC)
Additional Allocations. Notwithstanding the foregoing, if, upon the final dissolution and termination of the Partnership and after taking into account all allocations of Net Income and Net Losses (and other tax items) under this Article IV, the distributions to be made in accordance with the positive Capital Account balances would result in a distribution that would be different from a distribution under Article XIII, then gross items of income and gain (and other tax items) for the taxable year of the final dissolution and termination (and, to the extent permitted under section 761(c) of the Code, gross items of income and gain, and other tax items, for the immediately preceding taxable year) shall be allocated to the Partners to increase or decrease their respective Capital Account balances so that the final distribution will occur to the fullest extent possible in the same manner as a distribution under Section 13.4.
Appears in 1 contract
Samples: Limited Partnership Agreement (Hei Preferred Funding L P)
Additional Allocations. Notwithstanding the foregoing, if, upon ---------------------- the final dissolution and termination of the Partnership and after taking into account all allocations of Net Income and Net Losses (and other tax items) under this Article IV, the distributions to be made in accordance with the positive Capital Account balances would result in a distribution that would be different from a distribution under Article XIII, then gross items of income and gain (and other tax items) for the taxable year of the final dissolution and termination (and, to the extent permitted under section 761(c) of the Code, gross items of income and gain, and other tax items, for the immediately preceding taxable year) shall be allocated to the Partners to increase or decrease their respective Capital Account balances so that the final distribution will occur to the fullest extent possible in the same manner as a distribution under Section 13.4.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Hawaiian Electric Industries Inc)
Additional Allocations. Notwithstanding the foregoing, if, upon the final dissolution and termination of the Partnership and after taking into account all allocations of Net Income and Net Losses (and other tax items) under this Article IV, the distributions to be made in accordance with the positive Capital Account balances would result in a distribution that would be different from a distribution under Article XIII, then gross items of income and gain (and other tax items) for the taxable year of the final dissolution and termination (and, to the extent permitted under section 761(c) of the Code, gross items of income and gain, and other tax items, for the immediately preceding pre- ceding taxable year) shall be allocated to the Partners to increase or decrease their respective Capital Account balances so that the final distribution will occur in the same manner as a distribution under Section 13.4.
Appears in 1 contract
Samples: Limited Partnership Agreement (Ultramar Diamond Shamrock Corp)
Additional Allocations. Notwithstanding the foregoing, if, upon the final dissolution and termination termi- nation of the Partnership and after taking into account all allocations of Net Income and Net Losses (and other tax items) under this Article IV, the distributions to be made in accordance with the positive Capital Account balances would result in a distribution that would be different from a distribution under Article XIII, then gross items of income and gain (and other tax items) for the taxable year of the final dissolution and termination (and, to the extent permitted under section 761(c) of the Code, gross items of income and gain, and other tax items, for the immediately preceding taxable year) shall be allocated to the Partners to increase or decrease their respective Capital Account balances so that the final distribution will occur in the same manner as a distribution under Section 13.4.
Appears in 1 contract
Samples: Limited Partnership Agreement (Merrill Lynch Preferred Funding I Lp)
Additional Allocations. Notwithstanding the foregoing, if, upon the final dissolution and termination of the Partnership and after taking into account all allocations of Net Income and Net Losses (and other tax items) under this Article IV, the distributions to be made in accordance with the positive Capital Account balances would result in a distribution that would be different from a distribution under Article XIII, then gross items of income and gain (and other tax items) for the taxable year of the final dissolution and termination (and, to the extent permitted under section 761(c) of the Code, gross items of income and gain, and other tax items, for the immediately preceding taxable year) shall be allocated to the Partners to increase or decrease their respective Capital Account balances so that the final distribution will occur in the same manner as a distribution under Section 13.4.. 18
Appears in 1 contract
Samples: Limited Partnership Agreement (Capita Preferred Trust)