Common use of Allocations in Respect of Varying Interests Clause in Contracts

Allocations in Respect of Varying Interests. If any Partner’s interest in the Partnership varies (within the meaning of Code section 706(d)), whether by reason of a Transfer of a Unit, redemption of a Unit by the Partnership, or otherwise, Net Profits and Net Losses (and items thereof) for such Fiscal Year shall be allocated so as to take into account such varying interests in accordance with Code section 706(d) using the “interim closing of the books” method and/or such other permissible method or methods selected by the General Partner.

Allocations in Respect of Varying Interests. If any Partner’s interest in the Partnership varies (within the meaning of Code section 706(d))) within a Fiscal Year, whether by reason of a Transfer of a Unitan Interest, redemption of a Unit an Interest by the Partnership, or otherwise, Net Profits and Net Losses (and items thereof) for such that Fiscal Year shall will be allocated so as to take into account such varying interests in accordance with Code section 706(d) using the “interim closing of the books” daily proration method and/or such other permissible method method, methods, or methods conventions selected by the General PartnerPartnership.