Common use of General Allocation Clause in Contracts

General Allocation. Except as provided in Sections 5.2 and 5.3, each item of income, gain, loss, deduction or credit, each item of income exempt from tax and each item described in Section 705(a)(2)(B) of the Code shall be allocated to the General Partner and to the Limited Partners or their Assignees in accordance with their Allocation Ratios.

General Allocation. Except as provided in Sections 5.2 0 and 5.30, each item ------------------ of income, gain, loss, deduction or credit, each item of income exempt from tax and each item described in Section 705(a)(2)(B) of the Code shall be allocated to the General Partner and to the Limited Partners or their Assignees in accordance with their Allocation Ratios.