Common use of Basis for Determining Profits or Losses Clause in Contracts

Basis for Determining Profits or Losses. For purposes of determining the profits, losses, and each item thereof allocable to any period, profits, losses, and each item thereof 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.

Basis for Determining Profits or Losses. For purposes of determining the profitsProfits, lossesLosses, and each item thereof or any other items allocable to any period, profitsProfits, lossesLosses, and each item thereof any such other items shall be determined on a daily, monthly, or other basis, as determined by the General Partner Board of Directors on a consistent basis using any permissible method under Code Section 706 and the Regulations thereunder.