Common use of Transfers During a Fiscal Year Clause in Contracts

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 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 section 706.

Transfers During a Fiscal Year. If any In the event of the Transfer of a Partner’s interest in the Partnership shall occur 's Interest at any time other than the last day end of the Partnership’s a Fiscal Year, the distributive shares share of the various items of Partnership profit, income, gain, deduction, loss, credit and expense as allowance computed for tax purposes and the related cash distributions shall be allocated between the transferor and the transferee in accordance with the applicable requirements ratio of Code Section 706the number of days in the Fiscal Year before and after the Transfer or in such other manner as the General Partner determines to be fair under the circumstances, including, without limitation, a closing of the books of the Partnership.