Common use of Final Allocations Clause in Contracts

Final Allocations. Subject to Section 503, the allocations of Net Income, Net Loss and Net Unrealized Profit and Net Unrealized Loss for each Partner for a Fiscal Year shall equal the sum o f the amounts allocated to such Partner under Section 501 for the 12 Fiscal Months of such Fiscal Year. The final allocations for a Fiscal Year under this Section 502 shall supersede the interim monthly and quarterly allocations for such year under Section 501, Section 503. Allocation of Net Gain to the General Partner. Subject to the last paragraph o f this Section 503. on determination of the final allocations for any Fiscal Quarter pursuant to Sections 501 and 502, after taking into account any allocations pursuant to this Section 503 for prior Fiscal Months, if any, then the General Partner shall be allocated an amount equal to 20% of the allocation o f Net Gain for such Fiscal Quarter otherwise allocable to such Limited Partner. The amount so allocable to the General Partnershall be treated as being attributable to amounts otherwise allocable to the Limited Partner's Capital Account and Unrealized Profit and Loss Account, in proportion to the respective amounts otherwise so allocable. The percentage return on a Limited Partner’s Contributions for any Fiscal Year shall be determined on the basis o f a year o f 365 or 366 days, as the case may be. With respect to any Fiscal Year in which a Limited Partner makes an initial or additional Contribution or effects a withdrawal o f all or a portion o f its Capital Interest on any day other than the first or last day of such Fiscal Year, the percentage return for such Fiscal Year, solely with respect to the amount so contributed or withdrawn, shall equal the percentage return actually realized on such amount afterthe Contribution or prior to the withdrawal, as the case may be, times the total number o f days in such Fiscal Year (either 365 or 366) and divided by the number of days in such Fiscal Year after the Contribution or prior to the withdrawal, as the case may be. Limited Partners may be admitted to the Partnership at different times during the course of any year. In order to permit the Partnership to effect the allocation with respect to as many Limited Partners as possible as of the end of the fiscal Year, the Partnership shall effect the first allocation with respect to a Limited Partner as of the end of the first Fiscal Year in which such Limited Partner has been in the Partnership, with respect to a period o f less than 12 months. All subsequent allocations shall be effected for the 12 months ending on the last day of each Fiscal Year.

Final Allocations. Subject to Section 503, the allocations of Net Income, Net Loss and Net Unrealized Profit and Net Unrealized Loss for each Partner for a Fiscal Year shall equal the sum o f of the amounts allocated to such Partner under Section 501 for the 12 four Fiscal Months Quarters of such Fiscal Year. The final allocations for a Fiscal Year under this ^ Section 502 shall supersede the interim monthly and quarterly allocations for such year under Section 501, . Section 503. Allocation of Net Gain to the General Partner. Subject to the last paragraph o f of this Section 503. , on determination of the final allocations for any Fiscal Quarter Year pursuant to Sections 501 and Section 502: , (a) if the amount of Cumulative Net Gain allocated to a Limited Partner (who is not an Affiliate of the General Partner) through the end of such Fiscal Year, after taking into account any allocations pursuant to this Section 503 for prior Fiscal MonthsYears, exceeds the High Watermark (as defined in Section 305(d)); and (b) if any, then the Net Gain allocated to such Limited Partner for such Fiscal Year represents a percentage return on such Limited ▇▇▇▇▇▇’▇ Contributions (calculated as provided below) as of the first day of such Fiscal Year of not less than the Hurdle Rate for such Fiscal Year; then (c) the General Partner shall be allocated an amount equal to 20% of the : allocation o f of Net Gain for such Fiscal Quarter Year otherwise allocable to such Limited Partner▇▇▇▇▇▇ (exclusive of any portion thereof which must be counted towards the Cumulative Net Gain allocated to such Limited Partner through the end of such Fiscal Year in order for it to exceed the High Water­ ▇▇▇▇). The amount so allocable to the General Partnershall ▇▇▇▇▇▇ shall be treated as being attributable to amounts otherwise allocable to the Limited Partner's ’s Capital Account and Unrealized Profit and Loss Account, in proportion to the respective amounts otherwise so allocable. The percentage return on a Limited Partner’s Contributions for any Fiscal Year shall be determined on the basis o f of a year o f of 365 or 366 days, as the case may be. With respect to any Fiscal Year in which a Limited Partner makes an initial or additional Contribution or effects a withdrawal o f all or a portion o f its Capital Interest on any day other than the first or last day of such Fiscal Year, the die percentage return for such Fiscal Year, solely with respect to the amount so contributed or withdrawn, shall equal the percentage return actually realized on such amount afterthe after the Contribution or prior to the withdrawal, as the case may be, times the total number o f of days in such Fiscal Year (either 365 or 366) and divided by the number of days in such Fiscal Year after the Contribution or prior to the withdrawal, as the case may be. Limited Partners may be admitted to the Partnership at different times during the course of any year. In order to permit the Partnership to effect the allocation with respect to as many Limited Partners as possible as of the end of the fiscal Year, the Partnership shall effect the first allocation with respect to a Limited Partner as of the end of the first Fiscal Year in which such Limited Partner has been in the Partnership, with respect to a period o f less than 12 months. All subsequent allocations shall be effected for the 12 months ending on the last day of each Fiscal Year.