Common use of Distributions and Allocations in Respect of Transferred Partnership Interests Clause in Contracts

Distributions and Allocations in Respect of Transferred Partnership Interests. If any Partnership Interest is Transferred during any fiscal year in compliance with the provisions of this Article VII, Profits, Losses, and all other items attributable to the Transferred interest for such period shall be allocated between the Transferor and the Transferee by taking into account their varying interests during the period in accordance with Section 706 of the Code, using any conventions permitted by law and selected by the General Partner. All distributions on or before the date of the Transfer shall be made to the Transferor. Solely for purposes of making such allocations and distributions, the Partnership shall recognize the Transfer not later than the end of the calendar month during which it is given notice of the Transfer; provided, however, that if the Partnership does not receive a notice stating the date the Partnership Interest was Transferred and such other information as the General Partner may reasonably require within 30 days after the end of the fiscal year during which the Transfer occurs, then all of such items shall be allocated, and all distributions shall be made, to the Person who, according to the books and records of the Partnership, on the last day of the fiscal year during which the Transfer occurs, was the owner of the Partnership Interest. Neither the Partnership nor any Partner shall incur any liability for making allocations and distributions in accordance with the provisions of this Section 7.1(e), whether or not any Partner or the Partnership has knowledge of any Transfer of ownership of any Partnership Interest.

Distributions and Allocations in Respect of Transferred Partnership Interests. If any Partnership Interest is Transferred transferred during any fiscal year in compliance with the provisions of this Article VII, Profits, Losses, and all other items attributable to the Transferred transferred interest for such period shall be allocated between the Transferor transferor and the Transferee transferee by taking into account their varying interests during the period in accordance with Section 706 of the Code, using any conventions permitted by law and selected by the General Partner. All distributions on or before the date of the Transfer transfer shall be made to the Transferortransferor. Solely for purposes of making such allocations and distributions, the Partnership shall recognize the Transfer transfer not later than the end of the calendar month during which it is given notice of the Transfertransfer; provided, however, that if the Partnership does not receive a notice stating the date the Partnership Interest was Transferred transferred and such other information as the General Partner may reasonably require within 30 days after the end of the fiscal year during which the Transfer transfer occurs, then all of such items shall be allocated, and all distributions shall be made, to the Person who, according to the books and records of the Partnership, on the last day of the fiscal year during which the Transfer transfer occurs, was the owner of the Partnership Interest. Neither the Partnership nor any Partner shall incur any liability for making allocations and distributions in accordance with the provisions of this Section 7.1(e), whether or not any Partner or the Partnership has knowledge of any Transfer transfer of ownership of any Partnership Interest.

Distributions and Allocations in Respect of Transferred Partnership Interests. If any Partnership Interest is Transferred during any fiscal year in compliance with the provisions of this Article VII9, Profits, Losses, and all other items attributable to the Transferred interest for such period shall be allocated between the Transferor and the Transferee by taking into account their varying interests during the period in accordance with Section 706 of the Code, using any conventions permitted by law and selected by the General Partner. All distributions on or before the date of the Transfer shall be made to the Transferor. Solely for purposes of making such allocations and distributions, the Partnership shall recognize the Transfer not later than the end of the calendar month during which it is given notice of the Transfer; provided, however, that if the Partnership does not receive a notice stating the date the Partnership Interest was Transferred and such other information as the General Partner may reasonably require within 30 days after the end of the fiscal year during which the Transfer occurs, then all of such items shall be allocated, and all distributions shall be made, to the Person who, according to the books and records of the Partnership, on the last day of the fiscal year during which the Transfer occurs, was the owner of the Partnership Interest. Neither the Partnership nor any Partner shall incur any liability for making allocations and distributions in accordance with the provisions of this Section 7.1(e), 9.8 whether or not any Partner or the Partnership has knowledge of any Transfer of ownership of any Partnership Interest.

Distributions and Allocations in Respect of Transferred Partnership Interests. If any Partnership Interest is Transferred transferred during any fiscal year in compliance with the provisions of this Article VIIVI, Profits, Losses, and all other items attributable to the Transferred transferred interest for such period shall be allocated between the Transferor transferor and the Transferee transferee by taking into account their varying interests during the period in accordance with Section 706 of the Code, using any conventions permitted by law and selected by the General PartnerManagement Committee. All distributions on or before the date of the Transfer transfer shall be made to the Transferortransferor. Solely for purposes of making such allocations and distributions, the Partnership shall recognize the Transfer transfer not later than the end of the calendar month during which it is given notice of the Transfertransfer; provided, however, that if the Partnership does not receive a notice stating the date the Partnership Interest was Transferred transferred and such other information as the General Partner may reasonably require within 30 days after the end of the fiscal year during which the Transfer transfer occurs, then all of such items shall be allocated, and all distributions shall be made, to the Person who, according to the books and records of the Partnership, on the last day of the fiscal year during which the Transfer transfer occurs, was the owner of the Partnership Interest. Neither the Partnership nor any Partner shall incur any liability for making allocations and distributions in accordance with the provisions of this Section 7.1(e6.1(b), whether or not any Partner or the Partnership has knowledge of any Transfer transfer of ownership of any Partnership Interest.