Common use of Allocations in Event of Transfer Clause in Contracts

Allocations in Event of Transfer. In the event of the transfer of a Partner's interest (in accordance with and subject to the provisions of this Agreement) in the Partnership at any time other than at the end of a Fiscal Year, or the admission of a new Partner at any time other than the end of a Fiscal Year, the periods before and after such transfer or admission shall be treated as separate fiscal years, and the Partnership's net income, net loss and credits for each of such deemed separate fiscal years shall be allocated in accordance with the Partners' respective percentage interests in the Partnership for each of such deemed separate fiscal years.

Appears in 4 contracts

Samples: Partnership Agreement (Eacc Camps Inc), Partnership Agreement (Eacc Camps Inc), Partnership Agreement (Eacc Camps Inc)

AutoNDA by SimpleDocs

Allocations in Event of Transfer. In the event of the transfer of a Partner's interest (in accordance with and subject to the provisions of this Agreement) in the Partnership at any time other than at the end of a Fiscal Year, or the admission of a new Partner at any time other than the end of a Fiscal Year, the periods before and after such transfer or admission shall be treated as separate fiscal years, and the Partnership's net income, net loss and credits for each of such deemed separate fiscal years shall be allocated in accordance with the Partners' respective percentage interests in the Partnership Section 6.1 (a) for each of such deemed separate fiscal years.

Appears in 1 contract

Samples: Partnership Agreement (Eacc Camps Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!