Priority Allocation. Items of Partnership gross income or gain for the taxable period, if any, shall be allocated 99.99% to the Class B Limited Partners, Pro Rata, and .01% to the General Partner until the aggregate amount of such items allocated pursuant to this Section 5.2(d)(iii) for the current taxable year and all previous taxable years is equal to the cumulative IDR Distribution Amount from the Effective Date to a date 45 days after the end of the current taxable year.
Appears in 2 contracts
Samples: Agreement of Limited Partnership (Energy Transfer Partners, L.P.), Limited Partnership Agreement (Energy Transfer Equity, L.P.)
Priority Allocation. Items of Partnership gross income or gain for the taxable period, if any, shall be allocated 99.99% to the Class B Limited Partners, Pro Rata, and .01% Partners in proportion to the General Partner their relative IDR Percentage Interests until the aggregate amount of such items allocated pursuant to this Section 5.2(d)(iii5.3(e) for the current taxable year Taxable Year and all previous taxable years Taxable Years is equal to the cumulative IDR Distribution Amount from the Effective Date to a date 45 forty-five days after the end of the current taxable yearTaxable Year.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Natural Resource Partners Lp), Contribution Agreement (Natural Resource Partners Lp)
