Allocation of Partnership Items. Except as otherwise provided in this Agreement, whenever a proportionate part of income or loss is allocated to a Partner, every item of income, gain, loss or deduction entering into the computation of such income or loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such income or loss was realized, shall be allocated to the Partner in the same proportion.
Appears in 2 contracts
Sources: Trust Agreement, Trust Agreement (Dividend Capital Diversified Property Fund Inc.)
Allocation of Partnership Items. Except as otherwise provided in this Agreement, whenever Whenever a proportionate part of income or loss is allocated to a Partner, every item of income, gain, loss or deduction entering into the computation of such income or loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such income or loss was realized, realized shall be allocated to the Partner in the same proportion.
Appears in 1 contract
Sources: Limited Partnership Agreement (Secured Investment Resources Fund Lp Ii)