Common use of Allocation of Profit or Loss Clause in Contracts

Allocation of Profit or Loss. 4.2.1 For any Accounting Period ending on or before December 31, 2017, 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. 4.2.2 For any Accounting Period beginning on or after January 1, 2018, 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 the preceding Accounting Period. 4.2.3 For the avoidance of doubt, a Partner that holds a Unit as of the Close of Business on the last Business Day of the Accounting Period ending on December 31, 2017, shall be allocated the Profit and Loss for such Accounting Period as well the following Accounting Period. 4.2.4 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.

Allocation of Profit or Loss. 4.2.1 For any Accounting Period ending on or before December 31, 2017, 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. 4.2.2 For any Accounting Period beginning on or after January 1, 2018, 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 the preceding Accounting Period. 4.2.3 For the avoidance of doubt, a Partner that holds a Unit as of the Close of Business on the last Business Day of the Accounting Period ending on December 31, 2017, shall be allocated the Profit and Loss for such Accounting Period as well the following Accounting Period. 4.2.4 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.