Allocation of Taxable Income. If any Fund delivers to its Auction Agent a notice in the form of Exhibit I to the Auction Agency Agreement designating all or a portion of any dividend on shares of any series of MuniPreferred of such Fund to consist of net capital gains or other income taxable for Federal income tax purposes, and BD is a Broker-Dealer for such series, such Auction Agent shall deliver such notice to BD on the Business Day following its receipt of such notice from such Fund. On or prior to the Auction Date referred to in such notice, BD will contact each of its customers that is a Beneficial Owner of shares of such series of MuniPreferred or a Potential Beneficial Owner of shares of such series of MuniPreferred interested in submitting an Order in the Auction to be held on such Auction Date, and BD will notify such Beneficial Owners and Potential Beneficial Owners of the contents of such notice. BD will be deemed to have notified such Beneficial Owners and Potential Beneficial Owners if, for each of them, (i) BD makes a reasonable effort to contact such Beneficial Owner or Potential Beneficial Owner by telephone, and (ii) upon failing to contact such Beneficial Owner or Potential Beneficial Owner by telephone BD mails written notification to such Beneficial Owner or Potential Beneficial Owner at the mailing address indicated in the account records of BD. The Auction Agent for any series of MuniPreferred shall be required to notify BD if it is a Broker-Dealer for such series within two Business Days after each Auction of such series that involves an allocation of income taxable for Federal income tax purposes as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.
Allocation of Taxable Income. The Fund shall, in the case of a Minimum Rate Period or a Special Rate Period of 28 Rate Period Days or fewer, and may, in the case of any other Special Rate Period, designate all or a portion of any dividend on shares of any series of MuniPreferred to consist of net capital gains or other income taxable for Federal income tax purposes by delivering to the Auction Agent a notice in the form of Exhibit I hereto of such designation not later than the Dividend Payment Date for such series next preceding the Auction Date on which the dividend rate for such dividend is to be fixed. The Auction Agent will deliver such notice to the Broker-Dealers for such series on the Business Day following its receipt of such notice from the Fund. Within two Business Days after any Auction Date involving the allocation of income taxable for Federal income tax purposes, the Auction Agent shall notify each Broker-Dealer for the related series as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.
Allocation of Taxable Income. The Trust may designate all or a portion of any dividend on shares of any series of Preferred Shares to consist of net capital gains or other income taxable for Federal income tax purposes and may deliver to the Auction Agent a notice in the form of Exhibit I hereto of such designation not later than the Dividend Payment Date for such series next preceding the Auction Date on which the dividend rate for such dividend is to be fixed. The Auction Agent will deliver such notice, if given, to the Broker-Dealers for such series on the Business Day following its receipt of such notice from the Trust. Within two Business Days after any Auction Date involving the allocation of income taxable for Federal income tax purposes for which notice has so been given by the Trust, the Auction Agent shall notify each Broker-Dealer for the related series as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.
Allocation of Taxable Income. If the Fund delivers to the Auction Agent a notice in the form of Exhibit K to the Auction Agency Agreement designating all or a portion of any dividend on shares of any series of APS to consist of net capital gains or other income taxable for Federal income tax purposes, the Auction Agent shall deliver such notice to BD on the Business Day following its receipt of such notice from the Fund. On or prior to the Auction Date referred to in such notice, BD will contact each of its customers that BD believes to be an Existing Holder of shares of APS or a Potential Holder interested in submitting an order with respect to the Auction to be held on such Auction Date, and BD will notify such customer of the contents of such notice. BD will be deemed to have notified such Existing Holders and Potential Holders if, for each such Holder, (i) it makes a reasonable effort to contact such Holder by telephone, and (ii) upon failing to contact such Holder by telephone it mails written notification to such Holder at the mailing address indicated in such Holder's most recently submitted Master Purchaser's Letter or at such other address as is indicated in the account records of BD. The Auction Agent shall be required to notify BD within two Business Days after each Auction that involves an allocation of income taxable for Federal income tax purposes as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.
Allocation of Taxable Income. The Fund may, at its option, designate all or a portion of any dividend on the APS to consist of net capital gains or other income taxable for federal income tax purposes by delivering to the Auction Agent a notice in the form of Exhibit K hereto of such designation 15 days prior to the Auction Date on which the Applicable rate for such dividend is to be fixed. The Auction Agent will deliver such notice to the Broker-Dealers for such series on the Business Day following its receipt of such notice from the Fund. Within two Business Days after any Auction Date involving the allocation of income taxable for federal income tax purposes, or retroactively allocates income taxable for federal income tax purposes as provided in the APS Provisions, the Auction Agent shall notify each Broker-Dealer for the APS as to the dollar amount per share of such taxable income and income exempt from federal income taxation included in the related dividend.
Allocation of Taxable Income. If the Company delivers to the Auction Agent a notice in the form of Exhibit [K] to the Auction Agent Agreement designating all or a portion of any dividend on shares of Preferred Shares to consist of net capital gains or other income taxable for Federal income tax purposes, the Auction Agent shall deliver such notice to SSB not later than the Business Day following its receipt of such notice from the Company. On or prior to the Auction Date referred to in such notice, SSB will contact each of its customers that SSB believes to be an Existing Holder of shares of Preferred Shares or a Potential Holder interested in submitting an Order with respect to the Auction to be held on such Auction Date, and SSB will notify such customer of the contents of such notice. SSB will be deemed to have contacted and notified such Existing Holders and Potential Holders if, for each such holder, (i) it makes a reasonable effort to contact such holder by telephone, and (ii) upon failing to contact such holder by telephone it mails or sends by telecopy written notification to such holder at the mailing address or telecopy number, as the case may be, indicated in such holder's most recently submitted Master Purchaser's Letter or at such other address or telecopy number as is indicated in the account records of SSB. The Auction Agent shall be required to notify SSB within two Business Days after each Auction of the Auction Agent's receipt of notice from the Company that such Auction involves an allocation of income taxable for Federal income tax purposes as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.
Allocation of Taxable Income. Except as otherwise provided in paragraph (b) of this Section 3.08, taxable income, gain, loss or deduction of the Trust (as well as any credits and the basis of property to which such credits apply) as determined for federal income tax purposes shall be allocated in the same manner as the corresponding income, gain, loss or deduction is allocated for purposes of adjusting Capital Accounts under this Article III.
Allocation of Taxable Income. (1) Subject to Section 6.1(4), the Taxable Income and the Tax Loss of the Partnership for each fiscal year will be allocated to the Partners who were Partners at any time during such fiscal year in accordance with the provision of the Income Tax Act, including any discretionary deductions as determined by the General Partner.
(2) The Taxable Income will be allocated as follows:
(a) first, to the General Partner in an amount equal to the aggregate of (i) the Priority Distribution, (ii) the Reimbursement Distribution Amount, and (iii) 0.001% of the balance of the Distribution Amount paid to the General Partner;
(b) second, to the Preferred Partners based on their proportionate share of the Preferred LP Units Distributions received or receivable for such Fiscal Year; provided that this calculation will not include any distributions on the Preferred LP Units that are in satisfaction of accrued distributions on the Preferred LP Units that were not paid in a previous Fiscal Year where the General Partner determines that the inclusion of such distributions would result in a Preferred Partner being allocated more income than it would have been if the distributions were paid in the Fiscal Year in which they were accrued; and
(c) the balance, among the holders of Class A LP Units and Class B LP Units based on their proportionate share of distributions received or receivable for such Fiscal Year.
(3) The amount of Taxable Income allocated to a Partner may exceed or be less than the amount of distributions made by the Partnership to that Partner in respect of a given Fiscal Year.
(4) If, with respect to a given Fiscal Year, there is no Distribution Amount, or the Partnership has a Tax Loss, the Taxable Income or Tax Loss from each source for that Fiscal Year will be allocated to the Limited Partners in that Fiscal Year, in proportion to the percentage of the LP Units held by each of them at each of those dates.
(5) Notwithstanding Section 6.1(2), for the first Fiscal Year of the Partnership, the General Partner shall determine the Partnership’s income or loss for income tax purposes as if there were a fiscal year ended immediately before the Closing Date and before the issuance of Class A LP Units by the Partnership (the “Interim Fiscal Period”), and shall allocate the income or loss of the Partnership for the Interim Fiscal Period to KMCC and KM Canada Terminals in proportion to the percentage of the Class B LP Units held by each of them on the last day of the Interi...
Allocation of Taxable Income. The Trust may designate all or a portion of any dividend on shares of any series of AMPS to consist of net capital gains or other income taxable for Federal income tax purposes and may deliver to the Auction Agent a notice in the form of Exhibit I hereto of such designation not later than the Dividend Payment Date for such series next preceding the Auction Date on which the dividend rate for such dividend is to be fixed. The Auction Agent will deliver such notice, if given, to the Broker-Dealers for such series on the Business Day following its receipt of such notice from the Trust. Within two Business Days after any Auction Date involving the allocation of income taxable for Federal income tax purposes for which notice has so been given by the Trust, the Auction Agent shall notify each Broker-Dealer for the related series as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.
Allocation of Taxable Income. The Fund shall, in the case of a Minimum Rate Period or a Special Rate Period of 28 Rate Period Days or fewer, and may, in the case of any other Special Rate Period, designate all or a portion of any dividend on Preferred Shares to consist of net capital gains or other income taxable for Federal income tax purposes by delivering to the Auction Agent a notice in the form of Exhibit I hereto of such designation before the beginning of such Rate Period.
