Allocation of Net Income and Net Losses. Net Income and Net Loss for accounting purposes for each fiscal quarter and all items of net profits or net losses and credits for tax purposes for each quarter shall be allocated to the Partners as set forth in Article V of the Limited Partnership Agreement. Net Income and Net Loss will be allocated one percent (1%) to the General Partners and ninety-nine percent (99%) to the Limited Partners.
Appears in 7 contracts
Samples: Subscription Agreement (Redwood Mortgage Investors Viii), Subscription Agreement (Redwood Mortgage Investors Viii), Subscription Agreement (Redwood Mortgage Investors Viii)