Allocation to General Partner Sample Clauses
The 'Allocation to General Partner' clause defines how profits, losses, or specific assets of a partnership or investment fund are distributed to the general partner. Typically, this clause outlines the percentage or method by which the general partner receives its share, which may include management fees, carried interest, or a priority return on investment. By clearly specifying these allocations, the clause ensures transparency in financial distributions and helps prevent disputes among partners regarding entitlement to partnership assets or income.
Allocation to General Partner. Notwithstanding any provision of this Agreement to the contrary, at all times during the existence of the Partnership, the interest of the General Partner in each item of income, deduction, gain, loss, or credit will be equal to at least 1% of each such item.
Allocation to General Partner. To the extent that the Fund shall be entitled to any deduction for federal income tax purposes as a result of any interest in Net Income or Net Loss granted to a General Partner, such deduction shall be allocated for federal income tax purposes to such General Partner.