Allocations Subsequent to Assignment Clause Samples
The "Allocations Subsequent to Assignment" clause defines how rights, obligations, or benefits are distributed after an assignment has taken place under a contract. In practice, this clause specifies the manner in which the assignee and assignor will divide or handle any future payments, liabilities, or responsibilities that arise from the assigned interest. For example, it may clarify whether the assignor retains any residual rights or if all future entitlements pass entirely to the assignee. The core function of this clause is to ensure clarity and prevent disputes by explicitly outlining how allocations are managed following an assignment.
Allocations Subsequent to Assignment. To the extent permitted by the Code, Net Income or Net Loss and other items attributable to a Partnership Interest acquired by reason of an assignment from a Partner shall be allocated or adjusted between the assignor and the assignee based upon either (a) the length of time in any fiscal period of the Partnership during which the assigned Partnership Interest was owned by each of them, determined with reference to the effective date of the assignment, or (b) an interim closing of the Partnership’s books (at assignor’s sole expense), such manner of allocation or adjustment to be determined by the assignor, with the consent of the remaining Partners, which consent shall not be unreasonably withheld.
Allocations Subsequent to Assignment. To the extent permitted by the Code, Profits or Losses and other items attributable to a Partnership Unit acquired by reason of an assignment from a Partner shall be allocated or adjusted between the assignor or the assignee based upon an interim closing of the Partnership’s books.
Allocations Subsequent to Assignment. To the extent permitted by the Code, Net Income or Net Loss and other items attributable to Units acquired by reason of an assignment from a Member shall be allocated or adjusted between the assignor and the assignee based upon either (a) the length of time in any fiscal period of the Company during which the assigned Units were owned by each of them, determined with reference to the effective date of the assignment, or (b) an interim closing of the Company's books (at assignor's sole expense), such manner of allocation or adjustment to be determined by the assignor, with the consent of the Board, which consent shall not be unreasonably withheld.
Allocations Subsequent to Assignment. 28 i 3 ARTICLE V COMPANY DISTRIBUTIONS............................................29
Allocations Subsequent to Assignment. All Net Capital Appreciation and Net Capital Depreciation of the Partnership attributable to any Interest or rights attributable to the interest of the Partner in the Partnership acquired by reason of an Assignment shall be allocated among the Partners based on a method chosen by the General Partner, in its discretion, which method shall comply with Section 706 of the Code and shall be binding on all Partners. For purposes of determining the date on which the acquisition occurs, the Partnership may make use of any convention allowable under Section 706(d) of the Code.
Allocations Subsequent to Assignment. All Profits and Losses of a Series attributable to any Interest or rights attributable to the interest of the Partner in a Series acquired by reason of an assignment shall be allocated among the Partners based on a method chosen by the Series General Partner, in its discretion, which method shall comply with Section 706 of the Code and shall be binding on all Partners of such Series. For purposes of determining the date on which the acquisition occurs, a Series may make use of any convention allowable under Section 706(d) of the Code.