Common use of Ordinary Deductions and Ordinary Income Clause in Contracts

Ordinary Deductions and Ordinary Income. Subject to and in accordance with Section 5.01, for federal income tax purposes, all items of deduction other than realized capital losses, and all items of income other than realized capital gains, shall be allocated, as nearly as is practicable, in accordance with the manner in which such items of deduction or income affected the amounts that were either deducted from or added to the Capital Accounts of the Partners.

Ordinary Deductions and Ordinary Income. Subject to and in accordance with Section 5.018.01 and subject to Section 8.04, for federal income tax purposes, all items of deduction other than realized capital losses, and all items of income other than realized capital gains, shall be allocatedallocated equally among the Shares, as nearly as is practicable, in accordance with the manner in which such items of deduction or income affected the amounts that were either deducted from or added to the Capital Accounts value of the PartnersShares.

Ordinary Deductions and Ordinary Income. Subject to and in accordance with Section 5.01, for federal For Federal income tax purposes, all items of deduction other than realized capital losses, and all items of income other than realized capital gains, shall be allocated, in accordance with Section 704(b) of the Internal Revenue Code of 1986, as nearly as is practicableamended, in accordance with the manner in which such items of deduction or income affected the amounts that which were either deducted from or added to the Capital Accounts of the Partners.

Ordinary Deductions and Ordinary Income. Subject to and in accordance with Section 5.01, for federal For Federal income tax purposes, all items of deduction other than realized capital losses, and all items of income other than realized capital gains, shall be allocated, as nearly as is practicable, in accordance with the manner in which such items of deduction or income affected the amounts that which were either deducted from or added to the Capital Accounts of the Partners.