Allocations Between Transferor and Transferee. If a Partner Transfers any part or all of such Partner's Partnership Interest during a Fiscal Year and the transferee is admitted as a substitute Partner as provided herein, the distributive shares of the various items of Profits, Losses and all other items of Partnership income, gain, loss or deduction allocable among the Partners with respect to such Fiscal Year shall be allocated between the transferor Partner and the substitute Partner at the discretion of the General Partner either (i) as if the applicable Fiscal Year had ended on the date of the Transfer, or (ii) based on the number of days of such Fiscal Year that each was a Partner without regard to the results of Partnership activities in the respective portions of such Fiscal Year in which the transferor and the transferee were Partners.
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Samples: Limited Partnership Agreement (LTC Properties Inc), Limited Partnership Agreement (LTC Properties Inc), Limited Partnership Agreement (LTC Properties Inc)