Book Allocations. Except as otherwise provided herein or unless another allocation is required by the Code, Treasury Regulations, published revenue rulings or judicial decisions, all items of Partnership book income, gain, loss, deduction and credit shall be allocated among the Partners pro rata in accordance with their Unit Percentages in effect for the period during which such items accrue. For purposes of computing each item of book income, gain, deduction or loss, the determination, recognition and classification of such item shall be the same as its determination, recognition and classification for federal income tax purposes.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Leukosite Inc), Limited Partnership Agreement (Ilex Oncology Inc), Limited Partnership Agreement (Leukosite Inc)
Book Allocations. Except as otherwise provided herein or unless another allocation is required by the Code, Treasury Regulations, published revenue rulings or judicial decisions, all items of Partnership book income, gain, loss, deduction and credit shall be allocated among the Partners pro rata in accordance with their Unit Percentages in effect for the period during which such items accrue. For for purposes of computing each item of book income, gain, deduction or loss, the determination, recognition and classification of such item shall be the same as its determination, recognition and classification for federal income tax purposes.,
Appears in 1 contract
Samples: Limited Partnership Agreement (Millennium Pharmaceuticals Inc)
