Allocation of Fund Allocation Net Income for the First Fiscal Period Sample Clauses

Allocation of Fund Allocation Net Income for the First Fiscal Period. Notwithstanding anything to the contrary in the definition of “Fund Net Allocation Income” and Section 4.7(a) above, the Managing Member and each Non-Managing Member agree that Fund Allocation Net Income for any period that includes the Closing Date shall be allocated between the pre-Closing Date period (and such Fund Allocation Net Income shall be allocated solely to the Non-Managing Members other than VAM) and the period beginning on the date immediately after the Closing Date (and such Fund Allocation Net Income shall be allocated to Aveon and the Non-Managing Members other than VAM, and (iii) the amount of Fund Allocation Net Income allocable pursuant to Section 4.7(a) above shall be equal to the total incentive allocation for the Fundsallocation period that includes the Closing Date less the incentive allocation amount allocated to the pre-Closing Date period pursuant to clause (ii) above.
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Allocation of Fund Allocation Net Income for the First Fiscal Period. Notwithstanding anything to the contrary in the definition ofFund Allocation Net Income” and Section 4.7(a) above, the Managing Member and each Non-Managing Member agree that Fund Allocation Net Income for any period that includes the Closing Date shall be allocated between the pre-Closing Date period (and such Fund Allocation Net Income shall be allocated solely to the Non-Managing Members other than VAM) and the period beginning on the date immediately after the Closing Date (and such Fund Allocation Net Income shall be allocated to Aveon and the Non-Managing Members other than VAM in accordance with Section 4.7(a) above) as follows: (i) it shall be assumed that the applicable fiscal period of the Company and each Fund closed on the Closing Date, (ii) any incentive allocation accrued in respect of the Funds as of the Closing Date (whether or not actually allocated by the Funds to the Company as of the Closing Date) shall be allocated to (and treated as part of the income allocable to) the pre-Closing Date period and shall be allocated solely to the Non-Managing Members other than VAM, and (iii) the amount of Fund Allocation Net Income allocable pursuant to Section 4.7(a) above shall be equal to the total incentive allocation for the Funds’ allocation period that includes the Closing Date less the incentive allocation amount allocated to the pre-Closing Date period pursuant to clause (ii) above.

Related to Allocation of Fund Allocation Net Income for the First Fiscal Period

  • Allocation of Net Income and Net Loss Net Income or Net Loss of the Partnership shall be determined as of the end of each calendar year and as of the end of any interim period extending through the day immediately preceding any (i) disproportionate Capital Contribution, (ii) disproportionate distribution, (iii) Transfer of a Partnership Interest in accordance with the terms of this Agreement, or (iv) Withdrawal Event. If a calendar year includes an interim period, the determination of Net Income or Net Loss for the period extending through the last day of the calendar year shall include only that period of less than twelve (12) months occurring from the day immediately following the last day of the latest interim period during the calendar year and extending through the last day of the calendar year. For all purposes, including income tax purposes, Net Income, if any, of the Partnership for each calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period. In the event of a Net Loss for a particular calendar year or interim period, then, for such calendar year or interim period, the Net Loss for such calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Termination for Non-Allocation of Funds Renegotiate the Contract under the revised funding conditions; or

  • Determination of Net Asset Value, Net Income and Distributions Subject to applicable federal law including the 1940 Act and Section 3.6 hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of the Trust or any Series or Class or net income attributable to the Shares of the Trust or any Series or Class, or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable. Without limiting the generality of the foregoing, but subject to applicable federal law including the 1940 Act, any dividend or distribution may be paid in cash and/or securities or other property, and the composition of any such distribution shall be determined by the Trustees (or by any officer of the Trust or any other Person or Persons to whom such authority has been delegated by the Trustees) and may be different among Shareholders including differences among Shareholders of the same Series or Class.

  • Limitation on Allocation of Net Loss To the extent that any allocation of Net Loss would cause or increase an Adjusted Capital Account Deficit as to any Holder, such allocation of Net Loss shall be reallocated (x) first, among the other Holders of Partnership Common Units in accordance with their respective Percentage Interests with respect to Partnership Common Units and (y) thereafter, among the Holders of other classes of Partnership Units as determined by the General Partner, subject to the limitations of this Section 6.4.A(vi).

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • Distributions Upon Income Inclusion Under Section 409A of the Code Upon the inclusion of any portion of the benefits payable pursuant to this Agreement into the Executive’s income as a result of the failure of this non-qualified deferred compensation plan to comply with the requirements of Section 409A of the Code, to the extent such tax liability can be covered by the Executive’s vested accrued liability, a distribution shall be made as soon as is administratively practicable following the discovery of the plan failure.

  • Return of Contribution Nonrecourse to Other Members Except as provided by law, upon dissolution, each member shall look solely to the assets of the Company for the return of the member's capital contribution. If the Company property remaining after the payment or discharge of the Company's debts and liabilities is insufficient to return the cash contribution of one or more members, such member or members shall have no recourse against any other member or the Board.

  • How Are Contributions to a Xxxx XXX Reported for Federal Tax Purposes You must file Form 5329 with the IRS to report and remit any penalties or excise taxes. In addition, certain contribution and distribution information must be reported to the IRS on Form 8606 (as an attachment to your federal income tax return.)

  • Timing and Amount of Allocations of Net Income and Net Loss Net Income and Net Loss of the Partnership shall be determined and allocated with respect to each Partnership Year of the Partnership as of the end of each such year. Subject to the other provisions of this Article 6, an allocation to a Partner of a share of Net Income or Net Loss shall be treated as an allocation of the same share of each item of income, gain, loss or deduction that is taken into account in computing Net Income or Net Loss.

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