Common use of ALLOCATION OF SPECIAL ITEMS Clause in Contracts

ALLOCATION OF SPECIAL ITEMS. (a) Withholding taxes or other tax obligations incurred by the Fund that are attributable to any Investor will be debited against the Capital Account of that Investor as of the close of the Fiscal Period during which the Fund paid those obligations, thereby reducing the amount distributable to the Investor. If the amount of those taxes is greater than the distributable amounts, then the Investor or any successor to such Investor's Interest will be required to pay upon demand to the Fund, as a contribution to the capital of the Fund, the amount of the excess. (b) Except as otherwise provided for in this Agreement and unless prohibited by the 1940 Act, any expenditures payable by the Fund, to the extent determined by the Board of Directors (or its designated agent) to have been paid or withheld on behalf of, or by reason of particular circumstances applicable to, one or more but fewer than all of the Investors, shall be charged to only those Investors on whose behalf such payments are made or whose particular circumstances gave rise to such payments. Such charges shall be debited from the Capital Accounts of such Investors as of the close of the Fiscal Period during which any such items were paid or accrued by the Fund.

ALLOCATION OF SPECIAL ITEMS. (a) Withholding taxes or other tax obligations incurred by the Fund that are attributable to any Investor will be debited against the Capital Account of that Investor as of the close of the Fiscal Period during which the Fund paid those obligations, thereby reducing the amount distributable to the Investor. If the amount of those taxes is greater than the distributable amounts, then the Investor or any successor to such Investor's ’s Interest will be required to pay upon demand to the Fund, as a contribution to the capital of the Fund, the amount of the excess. (b) Except as otherwise provided for in this Agreement and unless prohibited by the 1940 Act, any expenditures payable by the Fund, to the extent determined by the Board of Directors (or its designated agent) to have been paid or withheld on behalf of, or by reason of particular circumstances applicable to, one or more but fewer than all of the Investors, shall be charged to only those Investors on whose behalf such payments are made or whose particular circumstances gave rise to such payments. Such charges shall be debited from the Capital Accounts of such Investors as of the close of the Fiscal Period during which any such items were paid or accrued by the Fund.