Partnership Accounting Year definition

Partnership Accounting Year means and refer to the accounting year of the Partnership ending December 31 of each calendar year or such shorter fiscal period during such year for which a relevant determination is being made under this Agreement.
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Partnership Accounting Year means the accounting year of the Partnership, ending December 31 of each year.
Sample 1

Examples of Partnership Accounting Year in a sentence

  • The General Partner shall use reasonable efforts to cause all Profit and Loss of the Partnership (including Gain or Loss on Disposition) to be allocated with respect to each Partnership Accounting Year as of the end of, and within ninety (90) days after the end of, such year, or as soon thereafter as is practically possible.

  • The General Partner shall cause the Partnership's accountants to prepare and deliver, at Partnership expense, to each Partner on a timely basis an information reporting return (K-1) reflecting such Partner's distributive share of all income, gain, loss, deductions, allowances or credits of the Partnership for each Partnership Accounting Year, as computed pursuant to Article 3.

  • For purposes of determining Capital Account balances under this Section 3.2, Profit and Loss with respect to any Partnership Accounting Year shall be allocated prior to reducing Capital Accounts by any distributions with respect to such Partnership Accounting Year.

  • The General Partner shall furnish to the Limited Partners, within ninety (90) days after the close of the Partnership Accounting Year, necessary tax information with respect to the Partnership to enable the Limited Partners to prepare a federal tax return.

  • Financial statements of the Partnership, certified true and correct by a certified public accountant, shall be prepared for and as of the end of each Partnership Accounting Year by such independent certified public accountants as the Managing General Partner may designate, and each Partner shall be entitled, within ninety (90) days after the end of such Partnership Accounting Year, to a copy of such financial statements.

  • All compensation permitted under this Section 5.03 shall be deemed to be on terms reasonable and customary under all circumstances then existing and payments permitted under this Agreement and called for therein shall be made in all events regardless of the profits and losses of the Partnership during the Partnership Accounting Year when the services were rendered.

  • If at least one Authorized Representative of the Xxxx-Xxxx Limited Partner so Approves a proposed budget (or a Development Plan in which such budget is contained), such budget shall be deemed Approved by the Partners and shall constitute an "Approved Budget" for the Partnership for the applicable Partnership Accounting Year covered thereby.

  • At the discretion of the Managing General Partner, the books shall be kept on the cash receipts and disbursements method or on an accrual method for the Partnership Accounting Year.

  • The Managing General Partner shall cause the Partnership's accountants to prepare and deliver, at Partnership expense, to each Partner on a timely basis an information reporting return (K-1) reflecting each Partner's distributive share of all income, gain, loss, deductions, allowances or credits of the Partnership for each Partnership Accounting Year, as computed pursuant to Article 3.

  • If any additional amount is to be distributed by reason of such financial statements, such additional amount shall be deemed a distribution for such Partnership Accounting Year; and if any excess amount was distributed during such Partnership Accounting Year, as reflected by such financial statements, the excess amount shall be taken into account in reducing subsequent distributions.

Related to Partnership Accounting Year

  • Accounting Year means the financial year commencing from the first day of April of any calendar year and ending on the thirty-first day of March of the next calendar year;

  • Annual Accounting Period or “Financial Year” means the period commence on 1st July and shall end on 30th June of the succeeding calendar year.

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.

  • Partnership Year means the fiscal year of the Partnership, which shall be the calendar year.

  • Current state fiscal year means the state fiscal year for which a particular calculation is made.

  • Fiscal Year End means December 31 of each calendar year.

  • Accounting Period means a period ending on and including an accounting date and commencing (in case of the first such period) on the date on which the Trust Property is first paid or transferred to the Trustee and (in any other case) from the next day of the preceding accounting period.

  • Current Fiscal Year means the fiscal year for which a particular calculation is made.

  • Non-profit making companies means companies set up under the Companies Act, 1956/Companies Act 2013.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Accounting Event means the receipt by the Issuer of an opinion of an Authorized Public Accountant in Finland (reputable and experienced in such matters) to the effect that, as a result of a change in the applicable accounting standards or interpretation thereof, the equity treatment of the Capital Notes as “equity” in full in the Issuer’s consolidated financial statements has or will cease.

  • Trust Fiscal Year means the period commencing on March 1 of any year and ending on February 28 (or February 29, if applicable) of the following year.

  • Academy Financial Year means the academic year from 1st of September to 31st of August of the following year;

  • Fiscal Year means the fiscal year of the Company.

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Accounting Reference Date means 31 December of each year.

  • School fiscal year means a fiscal year that commences July 1 and continues through June 30.

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Agreement Accounting Principles means generally accepted accounting principles as in effect from time to time, applied in a manner consistent with that used in preparing the financial statements referred to in Section 5.4.

  • Membership Year means a 12-month period starting on the anniversary of the date that the membership commenced.

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Accounting Date means, with respect to any Collection Period the last day of such Collection Period.

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Operating Revenue Cash Flows means the Company’s cash flow from ownership and/or operation of (i) Properties, (ii) Loans, (iii) Permitted Investments, (iv) short-term investments, and (v) interests in Properties, Loans and Permitted Investments owned by any Joint Venture or any partnership in which the Company or the Partnership is, directly or indirectly, a co-venturer or partner.

  • Fiscal Period means any interim accounting period within a Taxable Year established by the Manager and which is permitted or required by Section 706 of the Code.

  • Election Year means a year in which ordinary elections for local governments are required to be held;