Functional Allocations Sample Clauses
Functional Allocations. In the event and to the extent that any Member is charged with any expenditure incurred by the Company other than in accordance with that Member’s Percentage Interest, then that Member shall be allocated any expense or loss arising out of that expenditure.
Functional Allocations. Notwithstanding anything to the contrary in this Agreement, all IDC claimed as expenses by the Partnership shall be allocated in full to the Unitholders, in accordance with their Proportionate Shares. Any allocation not permitted under Treasury Regulation § 1.704-1(b) or other applicable law shall be reallocated among Partners in compliance therewith.
Functional Allocations