Common use of Determination of Profits and Losses Clause in Contracts

Determination of Profits and Losses. The results of operations of the Partnership shall be determined in accordance with generally accepted accounting principles as soon as practicable after the close of each Fiscal Year and as soon as practicable after termination of the Partnership. Profits and Losses shall be reflected in the Partners' Capital Accounts as of the end of such Fiscal Year and upon termination of the Partnership.