Common use of Profit Allocations Clause in Contracts

Profit Allocations. For each Partnership Accounting Year, Profit from Partnership operations shall be allocated in the following order of priority: 3.2.2.1 First, among the Partners as necessary to cause the Capital Account balance of each Partner to equal such Partner's Unrepaid Capital; 3.2.2.2 Second, after giving effect to the allocations made pursuant to Section 3.2.2.1, among the Partners as necessary to cause the portion of each Partner's Capital Account balance exceeding such Partner's Unrepaid Capital to be in proportion to the Partners' respective Residual Percentages; and 3.2.2.3 Third, among the Partners in proportion to their then respective Residual Percentages.

Profit Allocations. For each Partnership Accounting Year, Profit from Partnership operations shall be allocated in the following order of priority: 3.2.2.1 First, among the Partners as necessary to cause the Capital Account balance of each Partner to equal such Partner's Unrepaid Capital; 3.2.2.2 Second, after giving effect to the allocations made pursuant to Section 3.2.2.1, among the Partners as necessary to cause the portion of each Partner's Capital Account balance exceeding such Partner's Unrepaid Capital to be in proportion to the Partners' respective Residual Percentages; and 3.2.2.3 Third, among the Partners in proportion to their then respective Residual Percentages. 3.3 ALLOCATIONS OF GAIN OR LOSS ON DISPOSITION.