Transfers During a Fiscal Year. If any Transfer of a Partner’s interest in the Partnership shall occur at any time other than the last day of the Partnership’s Fiscal Year, the distributive shares of the various items of Partnership income, gain, loss, and expense as computed for tax purposes and the related cash distributions shall be allocated between the transferor and the transferee in accordance with the applicable requirements of Code Section 706.
Transfers During a Fiscal Year. If any Transfer of a Member’s Interest shall occur at any time other than the end of a Fiscal Year, the distributive shares of the various items of Company income, gain, loss and expense as computed for tax purposes and the distributions of the Company shall be allocated between the transferor and the transferee consistent with applicable requirements under Code Section 706; provided that no such allocation shall be effective unless the transferor and the transferee shall have agreed to reimburse the Managing Member and the Company for any incremental accounting fees and other expenses incurred by the Managing Member in making such allocation. Neither the Managing Member nor the Company shall incur any liability for making allocations and distributions in accordance with the provisions of this Section 10.4.
Transfers During a Fiscal Year. In the event of a Transfer of a Member’s Units at any time other than the end of a Fiscal Year, the various items of Company income, gain, deduction, loss, credit and allowance as computed for federal income tax purposes shall be allocated between the transferor and the transferee in the ratio of the number of days in the Fiscal Year before and after the Transfer, unless the transferor and the transferee shall (i) have given the Company written notice, on or before the January 15 following the year in which such Transfer occurred, stating their agreement that such allocation shall be made on some other proper basis and (ii) agree to reimburse the Company for any incidental accounting fees and other expenses incurred by the Company in making such allocation.
Transfers During a Fiscal Year. In the event of the Transfer of a Member’s interest at any time other than the end of the Company’s fiscal year, the distributive shares of the various items of Company income, gain, loss, and expense as computed for tax purposes shall be allocated between the transferring Member and the Assignee on such proper basis as the transferring Member and the Transferee shall agree; provided, however, that no such allocation shall be effective unless:
(i) the transferring Member and the Assignee shall have given the Company written notice, prior to the effective date of such Transfer, stating their agreement that such allocation shall be made on such proper basis;
(ii) the Managing Member shall have consented to such allocation; and
(iii) unless the Managing Member determines otherwise, the transferring Member and the Assignee shall have agreed to reimburse the Company for any incremental accounting fees and other expenses incurred by the Company in making such allocation. If the Managing Member withholds its consent to such allocation, an alternative allocation may be determined by the Managing Member, provided, that, such allocation is permissible under applicable law.
Transfers During a Fiscal Year. If any Transfer (other than a pledge or hypothecation) of a Partner's interest in the Partnership shall occur at any time other than the end of the Partnership's fiscal year, the distributive shares of the various items of Partnership income, gain, loss, and expense as computed for tax purposes and the related cash distributions shall be allocated between the transferor and the transferee on such proper basis as the transferor and the transferee shall agree consistent with applicable requirements under Section 706 of the Code; provided that no such allocation shall be effective unless (i) the transferor and the transferee shall have given the Partnership written notice, prior to the effective date of such Transfer, stating their agreement that such allocation shall be made on such proper basis, (ii) the General Partner shall have consented to such allocation, and (iii) the transferor and the transferee shall have agreed to reimburse the General Partner for any incremental accounting fees and other expenses incurred by the General Partner in making such allocation. If the transferor and transferee fail to give notice to the Partnership in accordance with the proviso to the immediately preceding sentence, all allocations shall be made in accordance with the applicable requirements of Section 706 of the Code.
Transfers During a Fiscal Year. If any Transfer of a Partner's Interest shall occur at any time other than the end of a Fiscal Year, the distributive shares of the various items of Partnership income, gain, loss and expense as computed for tax purposes and the distributions of the Partnership shall be allocated between the transferor and the transferee consistent with applicable requirements under Code Section 706; provided that no such allocation shall be effective unless the transferor and the transferee shall have agreed to reimburse the General Partner for any incremental accounting fees and other expenses incurred by the General Partner in making such allocation. Neither the General Partner nor the Partnership shall incur any liability for making allocations and distributions in accordance with the provisions of this Section 11.4.
Transfers During a Fiscal Year. In the event of the Transfer of a Limited Partner's Interest at any time other than the end of a Fiscal Year, the distributive shares of the various items of Partnership profit, income, gain, deduction, loss, credit and allowance as computed for federal income tax purposes shall be allocated between the Transferor and the Transferee in the ratio of the number of days in the Fiscal Year before and after the Transfer, unless the Transferor and the Transferee shall (i) have given the Partnership written notice, on or before the January 15 following the year in which such Transfer occurred, stating their agreement that such allocation shall be made on some other basis permitted for federal income tax purposes, and (ii) agree to reimburse the Partnership for any incremental accounting fees and other expenses incurred by the Partnership in making such allocation.
Transfers During a Fiscal Year. In the event of the Transfer of a Partner's Interest at any time other than the end of a Fiscal Year, allocations and distributions pursuant to Article IV shall be divided between the transferor and the transferee in any reasonable manner as determined by the General Partner.
Transfers During a Fiscal Year. In the event of the Transfer o f a Partner’s interest at any time other than at the end of the Partnership's fiscal year, the distributive shares of the various items of Partnership income, gain, loss and expense as computed for tax purposes shall be allocated between the transferor and the transferee on such proper basis as the transferor and the transferee shall agree; provided, however, that no such allocation shall be effective unless (i) the transferor and the transferee give the Partnership written notice, prior to the effective date o f such Transfer, stating their agreement that such allocation shall be made on such proper basis, (ii) the General Partner consents to such allocation, and (iii) the transferor-and the transferee agree to reimburse the Partnership for any incremental accounting fees and other expenses incurred by the Partnership in making such allocation,
Transfers During a Fiscal Year. In the event of the Transfer of the Partnership Interest of a Limited Partner at any time other than the end of a Fiscal Year, the distributive shares of the various items of Partnership profit, income, gain, deduction, loss, credit and allowance as computed for tax purposes shall, except as otherwise provided in Section 706(d) of the Code and the Treasury Regulations thereunder, be allocated between the Transferor and the Transferee by an interim closing of the books or in any other proportion permitted by the Code and selected by the General Partner in accordance with this Agreement.
