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

Distributions and Allocations in Respect to Transferred Interests. If any Interest is Transferred during any accounting period in compliance with Article 8 (Restrictions on Transfer), then Profits, Losses, each item of Profit and Loss and all other items attributable to the Transferred Interest for such period shall be divided and allocated between the transferor and the transferee by taking into account their varying Interests during the period in accordance with Code Section 706(d), using any conventions permitted by law and selected by the Managers. All distributions on or before the date of such Transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee.

Distributions and Allocations in Respect to Transferred Interests. If any Interest is Transferred sold, assigned, or transferred during any accounting period in compliance with Article 8 (Restrictions on Transfer)the provisions of this Section 9, then Profits, Losses, each item of Profit and Loss thereof, and all other items attributable to the Transferred Interest for such period shall be divided and allocated between the transferor and the transferee by taking into account their varying Interests during the period in accordance with Code Section 706(d), using any conventions permitted by law and selected by the ManagersGeneral Partners. All distributions on or before the date of such Transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee.