Common use of Partial Year Allocations Clause in Contracts

Partial Year Allocations. In the event that a Partner is admitted to the Partnership during the Partnership’s fiscal year, or all or a portion of a Partner’s Partnership Interest is transferred during the Partnership’s fiscal year, Net Profits and Net Losses shall be allocated to the admitted or transferee Partner in any manner permitted by Code Section 706 or the Treasury Regulations thereunder, as the General Partner shall determine as a Tax Decision.

Partial Year Allocations. In the event that a Partner is admitted to the Partnership during the Partnership’s 's fiscal year, or all or a portion of a Partner’s 's Partnership Interest is transferred during the Partnership’s 's fiscal year, Net Profits and Net Losses shall be allocated to the admitted or transferee Partner in any manner permitted by Code Section 706 or the Treasury Regulations thereunder, as the General Partner shall determine as a Tax Decision.

Partial Year Allocations. In the event that a Limited Partner is admitted to the Partnership during the Partnership’s fiscal yearFiscal Year, or all or a portion of a Limited Partner’s Partnership Interest is Units are transferred during the Partnership’s fiscal yearFiscal Year, Net Profits and Net Losses shall be allocated to the admitted or transferee Limited Partner in any manner permitted by Code Section 706 or the Treasury Regulations thereunder, as the General Partner shall determine as in its discretion. Allocations made in this Article IV shall be made to each holder of a Tax DecisionUnit whether or not the holder is a substituted Limited Partner.