SPECIAL ALLOCATION RULES AND VENTURE ELECTIONS Sample Clauses

SPECIAL ALLOCATION RULES AND VENTURE ELECTIONS. 1. Income, gain, loss and deduction with respect to property contributed to the Venture by a Venturer (and with respect to other circumstances for which Treas. Reg. 'ss' 1.704-1(b) requires Code Section 704(c) principles to be applied) shall be allocated among the Venturers for tax purposes so as to take account of the variation between the basis (within the meaning of Section 704(c) of the Code) of the property to the Venture and its fair market value at the time of contribution (or the variation between the basis and value or applicable Capital Account at the time the principles of Section 704(c) of the Code are to be applied).
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Related to SPECIAL ALLOCATION RULES AND VENTURE ELECTIONS

  • Special Allocation Rules Notwithstanding any other provision of the Agreement or this Exhibit C, the following special allocations shall be made in the following order:

  • Other Allocation Rules (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Directors using any permissible method under Code Section 706 and the Regulations thereunder.

  • Allocation Rules In determining the Distributor's 12b-1 Share in respect of a particular Portfolio:

  • General Allocations 26 Section 6.3

  • Special Allocations The following special allocations shall be made in the following order:

  • Regulatory and Special Allocations Notwithstanding the provisions of Section 5.01:

  • Additional Allocation Provisions Notwithstanding the foregoing provisions of this Article 6:

  • Other Allocation Provisions Certain of the foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with Treasury Regulations Section 1.704-1(b) and shall be interpreted and applied in a manner consistent with such regulations. Sections 5.03, 5.04 and 5.05 may be amended at any time by the General Partner if necessary, in the opinion of tax counsel to the Partnership, to comply with such regulations or any applicable Law, so long as any such amendment does not materially change the relative economic interests of the Partners.

  • Construction Rules Each party represents that its has been represented by and relied on the advice of counsel of its choice in the negotiation and drafting of the Agreement. The parties affirm that their respective counsel have had a substantial role in the drafting and negotiation of this Agreement and, therefore, the rule of construction that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any Schedule attached hereto.

  • LIMITATIONS ON ALLOCATIONS If the Employer maintains or has ever maintained another qualified plan (other than the Sponsor's paired defined contribution plan numbers 01003, 01004, 01006, or the Sponsor's paired defined benefit plan number 02001), in which any Participant in this Plan is (or was) a Participant or could possibly become a Participant, the following provision(s) must apply. The Employer must also complete this Section if it maintains a welfare benefit fund, as defined in Section 419(e) of the Code, or an individual medical account, as defined in Section 415(l)(2) of the Code, under which amounts are treated as Annual Additions with respect to any Participant in the Plan.

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