Common use of Allocations of Income and Loss for Income Tax Purposes Clause in Contracts

Allocations of Income and Loss for Income Tax Purposes. Subject to Section 5.4 and 5.8 hereof, all income and loss for income tax purposes of the Partnership, which are received or receivable by the Partnership, and all amounts which are separately allocable for the purposes of the Income Tax Act or any other applicable provincial legislation shall be determined on at the end of each fiscal year of the Partnership and allocated among the Partners in accordance with their Partnership Interests at the end of such fiscal year.

Allocations of Income and Loss for Income Tax Purposes. Subject Unless a different allocation of income or loss for tax purposes has been unanimously agreed to by the Partners, subject to Section 5.4 and 5.8 hereof, hereof all income and loss for income tax purposes of the Partnership, which are received or receivable by the Partnership, and all amounts which are separately allocable for the purposes of the Income Tax Act or any other applicable provincial legislation shall be determined on at the end of each fiscal year of the Partnership and allocated among the Partners in accordance with their Partnership Interests at the end of such fiscal year.