Apportionment of Net Income Sample Clauses

Apportionment of Net Income. Net Loss and Distributions.
Sample 1
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Apportionment of Net Income. Net Loss and Distributions. That portion of Net Income, Net Loss and Distributions of the Partnership allocated to Limited Partners as a group with respect to any calendar quarter shall be apportioned among the Limited Partners in the ratio in which the number of Units owned by each of them on the first day of such quarter bears to the total number of Units owned by all of them as of that date, without regard to capital accounts or the number of days during such quarter in which a person was a Limited Partner. Notwithstanding the foregoing, with respect to any calendar month during which any Closing Date occurs, Net Income, Net Loss and Distributions with respect to such month shall be apportioned among Limited Partners of record as of the first day of such month in proportion to the number of Units owned by each Limited Partner of record on the first day of such month, without regard to capital accounts or the number of days during such month that such person was a Limited Partner. An investor shall be deemed to be a Limited Partner of record as of the first day of a calendar month only if the admission of such investor as a Limited Partner occurs after the 15th day of the calendar month preceding such month or on or before the 15th day of the month for which the allocation is being made; provided, however, that if the Initial Closing Date occurs after the 15th day of any calendar month, each investor admitted as a Limited Partner on the Initial Closing Date shall be deemed to be a Limited Partner of record as of the 15th day of such calendar month. In the case of a proposed assignment of Units, the assignment shall be effective, and the assignee shall be deemed to be the owner of such Units, from and after the "effective date" of the assignment of such Units (as defined in Section 12.2), with the assignee being entitled to allocations of Net Income, Net Loss and Distributions only with respect to the period commencing with the effective date of the assignment. That portion of Net Income and Net Loss allocated to the General Partners shall be apportioned 96% to the Administrative General Partner and 2% each to the Investment General Partner and the Associate General Partner.
Sample 1
Apportionment of Net Income. Net Loss and Distributions after the Offering Period. After the fiscal quarter in which the Final Closing Date occurs, that portion of Net Income, Net Loss and Distributions of the Partnership allocated to Limited Partners shall be apportioned among the Limited Partners in the ratio in which the number of Units owned by each of them on the first day of each fiscal quarter bears to the total number of Units owned by all of them as of that date, without regard to capital accounts or the number of days during such quarter in which a person was a Limited Partner.
Sample 1
Apportionment of Net Income. Net Loss, Credits and Distributions. Except as provided in Section 10.2, that portion of Net Income, Net Loss and Distributions of the Partnership allocated to the Limited Partners as a group shall be apportioned among the Limited Partners in the ratio in which the number of Units owned by each of them on the first day of each calendar month bears to the total number of Units owned by all of them as of that date, without regard to capital accounts (except with respect to Distributions on dissolution of the Partnership) or the number of days during such month in which a person was a Limited Partner. Notwithstanding the foregoing, the General Partner may, in its discretion, apportion such items more frequently than monthly. In the case of a proposed assignment of Units, the assignment shall be effective, and the assignee shall be deemed to be the owner of such Units, from and after the "effective date" of the assignment of such Units as defined in Section 11.2, with the assignee being entitled to allocations of Net Income and Net Loss and Distributions only with respect to the period commencing with the effective date of the assignment. That portion of the basis of property eligible for Investment Tax Credits allocated to Limited Partners shall be apportioned among the Limited Partners in the ratio in which the number of Units owned by each of them on the date such property is placed in service by the Partnership bears to the total number of Units owned by all Limited Partners as of that date, without regard to capital accounts or the number of days during which a person was a Limited Partner.
Sample 1

Related to Apportionment of Net Income

  • Allocation of Net Income and Net Loss Net Income or Net Loss of the Partnership shall be determined as of the end of each calendar year and as of the end of any interim period extending through the day immediately preceding any (i) disproportionate Capital Contribution, (ii) disproportionate distribution, (iii) Transfer of a Partnership Interest in accordance with the terms of this Agreement, or (iv) Withdrawal Event. If a calendar year includes an interim period, the determination of Net Income or Net Loss for the period extending through the last day of the calendar year shall include only that period of less than twelve (12) months occurring from the day immediately following the last day of the latest interim period during the calendar year and extending through the last day of the calendar year. For all purposes, including income tax purposes, Net Income, if any, of the Partnership for each calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period. In the event of a Net Loss for a particular calendar year or interim period, then, for such calendar year or interim period, the Net Loss for such calendar year or interim period shall be allocated among the Partners in proportion to their respective Partnership Percentages for the calendar year or interim period.

  • Apportionment of Earnings and Profits and Tax Attributes (a) Tax Attributes arising in a Pre-Distribution Period will be allocated to (and the benefits and burdens of such Tax Attributes will inure to) the members of the Parent Group and the members of the SpinCo Group in accordance with the Code, Treasury regulations and any other Applicable Tax Law, and, in the absence of controlling legal authority or unless otherwise provided under this Agreement, Tax Attributes shall be allocated to the legal entity that created such Tax Attributes.

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • Apportionment of Tax Attributes (i) If the Parent Consolidated Group has a Tax Attribute, the portion, if any, of such Tax Attribute apportioned to SpinCo or any member of the SpinCo Consolidated Group and treated as a carryover to the first Post-Distribution Taxable Period of SpinCo (or such member) shall be determined by Parent in accordance with Treasury Regulation Sections 1.1502-21, 1.1502-21T, 1.1502-22, 1.1502-79 and, if applicable, 1.1502-79A.

  • Apportionment of Payments Aggregate principal and interest payments in respect of Term Loans and Revolving Loans shall be apportioned among all outstanding Loans to which such payments relate, in each case proportionately to Lenders' respective Pro Rata Shares. Administrative Agent shall promptly distribute to each Lender, at its primary address set forth below its name on the appropriate signature page hereof or at such other address as such Lender may request, its Pro Rata Share of all such payments received by Administrative Agent and the commitment fees of such Lender when received by Administrative Agent pursuant to subsection 2.3. Notwithstanding the foregoing provisions of this subsection 2.4C(iii), if, pursuant to the provisions of subsection 2.6C, any Notice of Conversion/Continuation is withdrawn as to any Affected Lender or if any Affected Lender makes Base Rate Loans in lieu of its Pro Rata Share of any Eurodollar Rate Loans, Administrative Agent shall give effect thereto in apportioning payments received thereafter.

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • Allocations of Net Income and Net Loss Except as otherwise provided in this Agreement, after giving effect to the special allocations in subparagraph 1(c) and paragraph 2, Net Income, Net Loss and, to the extent necessary, individual items of income, gain, loss or deduction, of the Partnership for each fiscal year or other applicable period of the Partnership shall be allocated among the General Partner and Limited Partners in accordance with their respective Percentage Interests.

  • Determination of Net Asset Value, Net Income and Distributions Subject to applicable federal law including the 1940 Act and Section 3.6 hereof, the Trustees, in their sole discretion, may prescribe (and delegate to any officer of the Trust or any other Person or Persons the right and obligation to prescribe) such bases and time (including any methodology or plan) for determining the per Share or net asset value of the Shares of the Trust or any Series or Class or net income attributable to the Shares of the Trust or any Series or Class, or the declaration and payment of dividends and distributions on the Shares of the Trust or any Series or Class and the method of determining the Shareholders to whom dividends and distributions are payable, as they may deem necessary or desirable. Without limiting the generality of the foregoing, but subject to applicable federal law including the 1940 Act, any dividend or distribution may be paid in cash and/or securities or other property, and the composition of any such distribution shall be determined by the Trustees (or by any officer of the Trust or any other Person or Persons to whom such authority has been delegated by the Trustees) and may be different among Shareholders including differences among Shareholders of the same Series or Class.

  • Apportionment of Taxes For purposes of this Agreement, all Taxes and Tax liabilities with respect to the income, property, employees or operations of the JVC, as the case may be, that relate to a taxable period that begins before and ends after the Closing Date (a “Straddle Period”) shall be apportioned between the period of the Straddle Period that extends before the Closing Date through the day before the Closing Date (the “Pre-Closing Straddle Period”) and the period of the Straddle Period that extends from the Closing Date to the end of the Straddle Period (the “Post-Closing Straddle Period”) in accordance with this Section 11.6. The portion of such Tax related to the Pre-Closing Straddle Period shall: (a) in the case of Taxes other than sales and use taxes, value-added taxes, employment and payroll taxes and any Tax based on or measured by income, receipts or profits earned during a Straddle Period, be deemed to be the amount of such Tax for the entire taxable period multiplied by a fraction, the numerator of which is the number of days in the Pre-Closing Straddle Period and the denominator of which is the number of days in the entire Straddle Period and (b) in the case of any sales or use taxes, value-added taxes, employment and payroll taxes and any Tax based on or measured by income, receipts or profits earned during a Straddle Period, be deemed equal to the amount which would be payable if the relevant taxable period or Tax year in which the income, receipts or profits were earned ended on and included the Closing Date. To the extent any income Tax is based on the greater of a Tax on net income, on the one hand, and a Tax measured by net worth or some other basis not otherwise measured by income, on the other, the portion of such Tax related to the Pre-Closing Straddle Period shall be deemed to be the greater of (i) the amount of such Tax measured by net worth or other basis determined as though the taxable values for the entire Straddle Period equal the respective values as of the end of the day on the Closing Date and multiplying the amount of such Tax by a fraction the numerator of which is the number of days during the Straddle Period that are in the Pre-Closing Straddle Period and denominator of which is the number of days in the Straddle Period or (ii) the amount of such Tax measured by net income determined as though the applicable Tax period terminated as of the end of the day on the Closing Date. The portion of Tax related to the Post-Closing Straddle Period shall be calculated in a corresponding manner.

  • Allocation of Revenues All revenues relating to the Designated Property shall be allocated as follows: (i) 100% to CWEI before Payout and (ii) 1% to CWEI and 99% to the Participants after Payout, apportioned among the Participants in proportion to the percentages listed on Exhibit A attached hereto.

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