Common use of Offsetting Allocations Clause in Contracts

Offsetting Allocations. If, and to the extent that, any Unitholder is deemed to recognize any item of income, gain, deduction or loss as a result of any transaction between such Unitholder and the Company pursuant to Sections 83, 482, 483, 1272-1274 or 7872 of the Code or any similar provision now or hereafter in effect, then the Company shall use its commercially reasonable efforts to allocate any corresponding Profits or Losses to the Unitholder who recognizes such item in order to reflect the Unitholders’ economic interest in the Company.

Offsetting Allocations. If, and to the extent that, any Unitholder is deemed to recognize any item of income, gain, deduction or loss as a result of any transaction between such Unitholder and the Company pursuant to Sections 83, 482, 483, 1272-1274 or 7872 of the Code or any similar provision now or hereafter in effect, then the Company shall use its commercially reasonable efforts to Board may, if permitted by applicable law, allocate any corresponding Profits Profit or Losses Loss to the Unitholder who recognizes such item in order to reflect the Unitholders’ ' economic interest in the Company.

Offsetting Allocations. If, and to the extent that, any Unitholder is deemed to recognize any item of income, gain, deduction or loss as a result of any transaction between such Unitholder and the Company pursuant to Sections 83, 482, 483, 1272-1274 or 7872 of the Code or any similar provision now or hereafter in effect, then the Company shall use its commercially reasonable efforts to Manager may, if permitted by applicable law, allocate any corresponding Profits Profit or Losses Loss to the Unitholder who recognizes such item in order to reflect the Unitholders’ economic interest in the Company.