Allocation of Profit or Loss. Profit or Loss for an Accounting Period shall be allocated among the Partners in proportion to the number of Units each Partner holds as of the close of business on the last Business Day of such Accounting Period. The General Partner may revise, alter or otherwise modify this method of allocation to the extent it deems necessary to comply with the requirements of Section 704 or Section 706 of the Code and Treasury Regulations or administrative rulings thereunder.
Appears in 12 contracts
Samples: Limited Partnership Agreement (United States 12 Month Natural Gas Fund, LP), Limited Partnership Agreement (United States 12 Month Oil Fund, LP), Limited Partnership Agreement (United States Oil Fund, LP)
Allocation of Profit or Loss. Profit or Loss for an Accounting Period shall be allocated among the Partners in proportion to the number of Units each Partner holds as of the close Close of business Business on the last Business Day of such Accounting Period. The General Partner may revise, alter or otherwise modify this method of allocation to the extent it deems necessary to comply with the requirements of Section 704 or Section 706 of the Code and Treasury Regulations regulations or administrative rulings thereunder.
Appears in 12 contracts
Samples: Agreement of Limited Partnership (United States Natural Gas Fund, LP), Limited Partnership Agreement (United States Oil Fund, LP), Limited Partnership Agreement (United States Brent Oil Fund, LP)
Allocation of Profit or Loss. Profit or Loss for an Accounting Period shall be allocated among the Partners in proportion to the number of Units each Partner holds as of the close Close of business Business on the last Business Day of such Accounting Period. The General Partner may revise, alter or otherwise modify this method of allocation to the extent it deems necessary to comply with the requirements of Section 704 or Section 706 of the Code and Treasury Regulations or administrative rulings thereunder.
Appears in 7 contracts
Samples: Limited Partnership Agreement (United States Diesel-Heating Oil Fund, LP), Agreement of Limited Partnership (United States Gasoline Fund, LP), Agreement of Limited Partnership (United States Heating Oil Fund, LP)
Allocation of Profit or Loss. Profit or Loss for an Accounting Period shall be allocated among the Partners in proportion to the number of Units each Partner holds as of the close of business on the last Business Day day of such Accounting Period. The General Partner may revise, alter or otherwise modify this method of allocation as it determines necessary to the extent it deems necessary to comply with the requirements of Section 704 permitted or required by Section 706 of the Code and Treasury Regulations the regulations or administrative rulings ruling promulgated thereunder.
Appears in 1 contract
Samples: Agreement of Limited Partnership (New York Oil ETF, LP)
