Participation in Profits and Losses. All profits and losses of the Company will be allocated to the Member.
Participation in Profits and Losses. 5.1 [RESERVED]
Participation in Profits and Losses. 5.1 - Expenses of the Partnership. The Partnership will pay the General Partner for all expenses incurred on the Partnership's behalf by the General Partner in the performance of its duties hereunder, and by the Manager pursuant to the authority of the General Partner, in accordance with the provisions of Section 3.11. All services provided by the General Partner and its Associates and Affiliates, including by the Manager, will be charged for at rates not exceeding those at which such services are available from independent parties dealing at arm's length. All such direct and allocated expenses will be subject to an independent audit and report thereon to the Limited Partners at the request of the Limited Partners expressed by Ordinary Resolution and the General Partner covenants to provide reasonable access to its books and records for such purpose. Expenses borne by the Partnership include:
Participation in Profits and Losses. 5.1 Allocation of Net Income or Losses. 38 5.2 Allocation for Capital Account Purposes. 38 5.3 Allocation of Net Income and Losses for Tax Purposes. 42 5.4 Distributions. 44 5.5 Repayments. 46 ARTICLE 6
Participation in Profits and Losses. 2.3.1 The net profits of the Partnership shall be divided and the net losses of the partnership shall be allocated to the Partners according to their respective Partnership Ownership Percentage Interests. No interest or additional share of profits shall inure to any Partner by reason of his capital account being proportionately in excess of the capital accounts of the others.
Participation in Profits and Losses. As specified below, the the holder of a Class C Unit is entitled to a portion of the net profits (and losses net, if any) of the Company relating to Class C Units in the manner stipulated in article 2.04 of this Contract.
Participation in Profits and Losses. As specified below, the the holder of a Class D Unit is entitled to a portion of the net profits (and losses net, if applicable) of the Company relating to Class D Units in the manner stipulated in article 2.04 of this Contract.
Participation in Profits and Losses. 25 5.1 Allocation of Net Income and Loss for Tax Purposes 25 5.2 Distributable Cash 27 5.3 Incentive Distributions 28 5.4 Repayments 29 5.5 Other Distributions 29 5.6 Method of Distributions 29 ARTICLE 6 REIMBURSEMENT OF EXPENSES 30 6.1 Expenses of the Partnership 30 ARTICLE 7 WITHDRAWAL OR RETURN OF CAPITAL CONTRIBUTIONS 30 7.1 Withdrawal 30
Participation in Profits and Losses. 34 Section 7.1 Allocation of Net Income or Loss 34 Section 7.2 Distributions 35 Section 7.3 Repayments 37 Section 7.4 Payment of Taxes 37 ARTICLE 8 — FEES AND EXPENSES 38 Section 8.1 Expenses of the Partnership 38 Section 8.2 Dealer Compensation 39 Section 8.3 Management Fee 39 ARTICLE 9 — WITHDRAWAL OF CAPITAL CONTRIBUTIONS 39 Section 9.1 No Redemption at the Option of Limited Partners 39 Section 9.2 Suspension of Calculation of Net Asset Value and Redemptions 39 Section 9.3 Redemption Proceeds 39 Section 9.4 Redemption at the Option of the General Partner 40 ARTICLE 10 - MANAGEMENT OF LIMITED PARTNERSHIP 40 Section 10.1 Authority of General Partner 40 Section 10.2 Specific Powers and Duties 41 Section 10.3 Remuneration of General Partner 44 Section 10.4 Title to Property 44 Section 10.5 Exercise of Duties 44 Section 10.6 Limitation of Liability 44 Section 10.7 Indemnity of General Partner 44 Section 10.8 Resolution of Conflicts of Interest 45 Section 10.9 Other Matters Concerning the General Partner 46 Section 10.10 Indemnity of Partnership 46 Section 10.11 Restrictions upon the General Partner 46 Section 10.12 Employment of an Affiliate or Associate 47 Section 10.13 Removal of General Partner 47 Section 10.14 Voluntary Withdrawal of General Partner 47 Section 10.15 Condition Precedent 47 Section 10.16 Transfer to New General Partner 48 Section 10.17 Transfer of Title to New General Partner 48 Section 10.18 Release by Partnership 48 Section 10.19 New General Partner 48 Section 10.20 Transfer of General Partner Interest 48 ARTICLE 11 — MANAGEMENT AND ADVISORY SERVICES 49 Section 11.1 Managing the Investments of the Partnership 49 ARTICLE 12 — FINANCIAL INFORMATION 49 Section 12.1 Books and Records 49 Section 12.2 Reports 49 Section 12.3 Income Tax Information 50 Section 12.4 Right to Inspect Partnership Books and Records 50 Section 12.5 Accounting Policies 50 Section 12.6 Appointment of Auditor 51 ARTICLE 13 — MEETINGS OF THE LIMITED PARTNERS 51 Section 13.1 Requisitions of Meetings 51 Section 13.2 Place of Meeting 51 Section 13.3 Notice of Meeting 51 Section 13.4 Record Dates 52 Section 13.5 Proxies 52 Section 13.6 Validity of Proxies 52 Section 13.7 Form of Proxy 53 Section 13.8 Revocation of Proxy 53 Section 13.9 Corporations 53 Section 13.10 Attendance of Others 53 Section 13.11 Chairman 53 Section 13.12 Quorum 53 Section 13.13 Voting 54 Section 13.14 Poll 54
Participation in Profits and Losses. 5.1. General Accounting Matters 35 5.2. GP-Related Capital Accounts 37 5.3. GP-Related Profit Sharing Percentages 38 5.4. Allocations of GP-Related Net Income (Loss) 38 5.5. Liability of Members 39 5.6. [Intentionally omitted.] 40 5.7. Repurchase Rights, etc. 40 5.8. Distributions 40 -i- TABLE OF CONTENTS (continued) Page 5.9. Business Expenses 47 5.10. Tax Capital Accounts; Tax Allocations 47
