Priority Allocations. Items of Partnership gross income or gain for the taxable period shall be allocated to the Partners until the cumulative amount of such items allocated to each Partner pursuant to this Section 4.2(b)(iii) for the current and all previous taxable years equals the cumulative amount of distributions made to such Partner pursuant to Section 5.02(a) for the current and all previous taxable years.
Appears in 6 contracts
Samples: Limited Partnership Agreement (Crestwood Midstream Partners LP), Merger Agreement (Crestwood Midstream Partners LP), Merger Agreement
Priority Allocations. Items of Partnership gross income or gain for the taxable period shall be allocated to the Partners until the cumulative amount of such items allocated to each Partner pursuant to this Section 4.2(b)(iii5.01(b)(iii) for the current and all previous taxable years equals the cumulative amount of distributions made to such Partner pursuant to Section 5.02(a) for the current and all previous taxable years.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Duncan Energy Partners L.P.), Agreement of Limited Partnership (Duncan Energy Partners L.P.)
Priority Allocations. Items All or a portion of the remaining items of Partnership gross income or gain for the taxable period period, if any, shall be allocated 100% to the Partners General Partner until the cumulative aggregate amount of such items allocated to each the General Partner pursuant to under this Section 4.2(b)(iiiparagraph (iii) for the current taxable period and all previous taxable years equals periods is equal to the cumulative amount of distributions made cash distributed to such the General Partner pursuant as an Incentive Distribution from the date hereof to Section 5.02(a) for a date 45 days after the end of the current and all previous taxable yearsperiod.
Appears in 1 contract
Samples: Limited Partnership Agreement (Plum Creek Timber Co L P)
