Computation of Income or Loss for Tax Purposes Sample Clauses

Computation of Income or Loss for Tax Purposes. The General Partner shall have the right, in computing the income or loss of the Partnership for tax purposes, to adopt a different method of computation than required by Section 6.1, to adopt different treatments of particular items and to make and revoke such elections on behalf of the Partnership and the Partners as the General Partner deems to be appropriate in order to reflect and give effect to the terms of this Agreement; provided that the same method or treatment shall be adopted and the same elections shall be made and revoked in respect of all Limited Partners and, if applicable, the General Partner.
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Computation of Income or Loss for Tax Purposes. The General Partner.
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Computation of Income or Loss for Tax Purposes. (a) The Manager shall have the right, in computing the income or loss of the Partnership for tax purposes, to adopt a different method of accounting than GAAP, to adopt different treatments of particular items, and to make and revoke such elections on behalf of the Partnership and the Partners as the Manager deems to be appropriate to reflect the terms of this Agreement.
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Computation of Income or Loss for Tax Purposes. The General Partner shall have the right, in computing the income or loss of the Partnership for tax purposes, to adopt a different method of accounting than required by Section 12.1, to adopt different treatments of particular items and to make and revoke elections on behalf of the Partnership and the Legal*7421044.1 Partners as the General Partner may deem in the best interests of the Partners. In respect of any Fiscal Year, the General Partner intends to claim the maximum capital cost allowances in respect of depreciable property of the Partnership, the maximum amount of other deductions and maximum reserves as permitted under the Tax Act, provided that the General Partner may claim less than the maximum in any Fiscal Year if it considers that to do so would be in the best interests of the Limited Partners.
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Computation of Income or Loss for Tax Purposes. Notwithstanding the definition of Net Income or Net Loss, for the purposes of recognition of income for tax purposes, income will be deferred for the length of time and recognized in the amount, and in the case of a deduction from income, such deduction will be taken at the time and in the amount, all as are determined by the General Partner, acting reasonably, to be advisable and in the best interests of the Limited Partners.
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Computation of Income or Loss for Tax Purposes. In computing the income or loss of the Partnership for tax purposes, the General Partner shall compute the income or loss of the Partnership in accordance with the provisions of the ITA (and, if required, any applicable provincial taxing statute) and shall have the right to make and revoke such elections on behalf of the Partnership and the Partners as the General Partner deems to be appropriate in order to reflect the terms of this Agreement. Unless otherwise approved by Special Approval of the Partners, the Partnership shall be able to deduct, in the discretion of the General Partner, an amount of capital cost allowance available in each and every taxation year with respect to the capital cost and any improvements relating to the Plant with respect to which capital cost allowance is available.
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Computation of Income or Loss for Tax Purposes. Unless otherwise directed by the GP Board, the Operator may, in computing the income or loss of the Partnership for tax purposes, adopt a method of accounting, adopt different treatments of particular items and make and revoke elections on behalf of the Partnership and the Partners as the Operator may deem in the best interests of the Partners, acting reasonably. In respect of any Fiscal Year, the Operator shall claim the maximum capital cost allowances in respect of depreciable property of the Partnership, and the maximum amount of other deductions and maximum reserves as permitted under the Tax Act, provided that, unless otherwise directed by the GP Board, the Operator may claim less than the maximum in any Fiscal Year if it considers that to do so would be in the best interests of the Partners.
Sample 1
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Computation of Income or Loss for Tax Purposes. In computing the income or loss of the Partnership for tax purposes, the General Partner shall compute the income or loss of the Partnership in accordance with the provisions of the ITA (and, if required, any applicable provincial taxing statute) and shall have the right to adopt a different method of accounting than required by Section 5.1, to adopt different treatments of particular items and to make and revoke such elections on behalf of the Partnership and the Partners as the General Partner deems to be appropriate in order to reflect the terms of this Agreement. Unless otherwise Approved by the Partners and subject to the at-risk amount rules provided in Section 96 of the ITA, the Partnership shall deduct the maximum capital cost allowance available in each and every taxation year with respect to the capital cost and any improvements relating to the Project with respect to which capital cost allowance is available.
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Computation of Income or Loss for Tax Purposes. The General Partner may, in computing the income or loss of the Fund for tax purposes, adopt a different method of accounting than required by Section 14.9 (Determination of Net Income or Loss.), adopt different treatments of particular items, and make and revoke such elections on behalf of the Fund and the Partners as the General Partner deems to be appropriate in order to reflect the terms of this Agreement, provided that the same method or treatment shall be adopted and the same elections shall be made and revoked in respect of all Limited Partners.
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Related to Computation of Income or Loss for Tax Purposes

  • Adjustments for Tax Purposes Any payments made pursuant to Section 2.04 shall be treated as an adjustment to the Purchase Price by the parties for Tax purposes, unless otherwise required by Law.

  • Allocations for Tax Purposes (a) Except as otherwise provided herein, for federal income tax purposes, each item of income, gain, loss and deduction shall be allocated among the Partners in the same manner as its correlative item of “book” income, gain, loss or deduction is allocated pursuant to Section 6.1.

  • Adjustment for Tax Purposes The Company shall be entitled to make such reductions in the Conversion Price, in addition to those required by Section 4.6, as it in its discretion shall determine to be advisable in order that any stock dividends, subdivisions of shares, distributions of rights to purchase stock or securities or distributions of securities convertible into or exchangeable for stock hereafter made by the Company to its stockholders shall not be taxable.

  • 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 Taxable Income If any Fund delivers to its Auction Agent a notice in the form of Exhibit I to the Auction Agency Agreement designating all or a portion of any dividend on shares of any series of MuniPreferred of such Fund to consist of net capital gains or other income taxable for Federal income tax purposes, and BD is a Broker-Dealer for such series, such Auction Agent shall deliver such notice to BD on the Business Day following its receipt of such notice from such Fund. On or prior to the Auction Date referred to in such notice, BD will contact each of its customers that is a Beneficial Owner of shares of such series of MuniPreferred or a Potential Beneficial Owner of shares of such series of MuniPreferred interested in submitting an Order in the Auction to be held on such Auction Date, and BD will notify such Beneficial Owners and Potential Beneficial Owners of the contents of such notice. BD will be deemed to have notified such Beneficial Owners and Potential Beneficial Owners if, for each of them, (i) BD makes a reasonable effort to contact such Beneficial Owner or Potential Beneficial Owner by telephone, and (ii) upon failing to contact such Beneficial Owner or Potential Beneficial Owner by telephone BD mails written notification to such Beneficial Owner or Potential Beneficial Owner at the mailing address indicated in the account records of BD. The Auction Agent for any series of MuniPreferred shall be required to notify BD if it is a Broker-Dealer for such series within two Business Days after each Auction of such series that involves an allocation of income taxable for Federal income tax purposes as to the dollar amount per share of such taxable income and income exempt from Federal income taxation included in the related dividend.

  • Disposition of Income During the term of this Trust, all income received by the Trust, net of expenses and taxes, shall be accumulated and reinvested.

  • 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.

  • Allocation of Profit or Loss All Profit or Loss shall be allocated to the Member.

  • Minimum Consolidated Net Worth Permit the Consolidated Net Worth of the Company at the end of any fiscal quarter to be less than US$11,250,000,000 (“Minimum Amount”).

  • Consolidated Net Income The consolidated net income of the Borrowers after deduction of all expenses, taxes, and other proper charges, determined in accordance with GAAP.

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