Common use of Allocations When Interests Change Clause in Contracts

Allocations When Interests Change. For purposes of determining the Profits, Losses or any other items allocable to any period, Profits, Losses and any such other items shall be determined on a daily, monthly, or other basis, as determined by the General Partner using any permissible method under Code Section 706 and the Regulations thereunder; provided, however, that any adjustments to the Agreed Value of a Partnership asset treated as gain or loss under paragraph (iii) of the definition of "Profits" and "Losses" or under Section 6.6.6.3 hereof shall be allocated only to those persons who were Interest Holders immediately before the event giving rise to such adjustment.