Partnership Profits definition

Partnership Profits means, with respect to a particular period, the unconsolidated net profit, if any, of the Partnership for such period determined in accordance with GAAP;
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Partnership Profits. , in relation to a partner, means profits of the partnership business which accrue while he is a partner.
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Examples of Partnership Profits in a sentence

  • In such event, the Limited Partners shall create for such replacement General Partners such interest in the Partnership Profits, Losses and Net Cash Flow as the Limited Partners may agree upon from among their collective interests in the Partnership.

  • Solely for purposes of determining a Partner’s proportionate share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulation §1.752-3(a)(3), Partnership Profits are allocated to the Partners Pro Rata.

  • A Partner's capital account shall be credited with its Additional Capital Contribution, and any other voluntary Capital Contribution made by such Partner when made, and such Partner's share of Partnership Profits.

  • Section 1.704-1(b)(2)(iv)(c)), but not by increases in his share of Partnership liabilities within the meaning of Code Section 752(a); (iii) the Gross Asset Value of property contributed by him to the Partnership (net of liabilities securing such contributed property that the Partnership is considered to assume or take subject to under Code Section 752); and (iv) allocations to him of Partnership Profits (or items thereof), including income and gain exempt from tax and Income and gain described in Treas.

  • A Capital Account shall be established for each Partner, and shall be increased by: (1) the amount of money contributed by the Partner to the Partnership; (2) the fair market value of property contributed by the Partner to the Partnership (net of liabilities that the Partnership is considered to assume or take subject to under Code Section 752); and (3) allocations to the Partner of Partnership Profits (or items thereof).

  • For purposes of determining each Partner’s share of nonrecourse liabilities, if any, of the Partnership in accordance with Regulation Section 1.752-3(a)(3), the Partners’ interests in Partnership Profits shall be determined in the same manner as prescribed by Section 7.3(e) hereof.

  • Solely for purposes of determining a Partner's proportionate share of the "excess nonrecourse liabilities" of the Partnership within the meaning of Regulation Section 1.752-3(a)(3), Partnership Profits are allocated to the Partners Pro Rata.

  • All remaining Partnership Profits and Losses allocable to such Transferred interest for such Fiscal Year shall be allocated to the Substitute Partner acquiring such interest.

  • Solely for purposes of determining a Partner's proportionate share of the "excess nonrecourse liabilities" of the Partnership within the meaning of Regulation ss.1.752-3(a)(3), Partnership Profits are allocated to the Partners Pro Rata.

  • The Regulatory Allocations may not be consistent with the manner in which the Partners intend to divide the Partnership Profits, Losses and similar items.