Effect of Allocations. Allocations pursuant to this Section 4.5 are solely for purposes of federal, state and local Taxes and shall not affect, or in any way be taken into account in computing, any Unitholder’s Capital Account or share of Profits, Losses, Distributions (other than Tax Distributions) or other items pursuant to any provision of this Agreement.
Effect of Allocations. Allocations pursuant to this Section 8.01(c) are solely for purposes of federal, state and local taxes and shall not affect, or in any way be taken into account in computing, any Member’s Capital Account or share of Profit, Loss, other items or distributions pursuant to any provision of this Agreement.
Effect of Allocations. Allocations pursuant to this Section 4.5 are solely for purposes of federal, state and local taxes and shall not affect any Partner’s Capital Account.
Effect of Allocations. It is the express intention of the Members that all allocations of income, gain, loss, deduction, and credit shall be treated as having substantial economic effect under Section 704(b) of the Code and that each Member’s and assignee’s share of Company items shall be determined and allocated in accordance with this Article IV to the fullest extent permitted by Section 704(b) of the Code. Therefore, if the Company is advised that the allocations in this Article IV are unlikely to be respected for federal income tax purposes, the Board of Governors is hereby granted the power to amend the allocation provisions of this Agreement to the minimum extent necessary to effect the plan of allocations and distributions provided in this Agreement.
