Allocation of Distributions Subsequent to Assignment. All Profits and Losses of the Partnership attributable to any Partnership Interest acquired by reason of any Transfer of such Partnership Interest and any distributions made with respect thereto shall be allocated (i) in respect of the portion of the Partnership Year ending on the effective date of the Transfer, to the transferor and (ii) in respect of subsequent periods, to the transferee. The effective date of any Transfer permitted under this Agreement, subject to the provisions of Section 9.7 below, shall be the close of business on the day the Partnership is notified of the Transfer.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Penske Automotive Group, Inc.), Partnership Agreement (Penske Automotive Group, Inc.), Limited Partnership Agreement (Penske Automotive Group, Inc.)
Allocation of Distributions Subsequent to Assignment. All Profits and Losses of the Partnership attributable to any Partnership Interest acquired by reason of any Transfer of such Partnership Interest and any distributions made with respect thereto shall be allocated (i) in respect of the portion of the Partnership Year ending on the effective date of the Transfer, to the transferor and (ii) in respect of subsequent periods, to the transferee. The effective date of any Transfer permitted under this Agreement, subject to the provisions of Section 9.7 9.4 below, shall be the close of business on the day the Partnership is notified of the Transfer.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Graham Packaging Acquisition Corp.), Agreement of Limited Partnership (Graham Packaging Acquisition Corp.)
