PURPOSE OF THE ALLOCATION Clause Samples

The 'Purpose of the Allocation' clause defines the specific reason or intent behind the distribution or assignment of certain resources, funds, or responsibilities within an agreement. Typically, this clause clarifies what the allocated items are intended to achieve, such as funding a particular project, covering specific expenses, or supporting designated activities. By explicitly stating the purpose, the clause ensures that all parties understand the intended use of the allocation, thereby preventing misuse and providing a clear basis for accountability.
PURPOSE OF THE ALLOCATION. This Annex 1 constitutes an integral part of the Allocation Agreement dated as of December 4, 2012, between the Treasury and the Participating Municipalities. The purpose of the Allocation is to assist the Participating Municipalities to increase the amount of capital made available by private lenders to small businesses through its Approved Municipal Programs. To accomplish this, the Participating Municipalities will use $3,000,000 of their Allocated Funds to support the new Seed Capital Network (SCN) program, a venture capital program that will create angel investment networks that will invest in eligible small businesses in the Participating Municipalities. The Participating Municipalities will use $10,168,350 of their Allocated Funds to support the new Credit Guarantee Program (CGP) will pledge up to 50 percent of the loan value in cash collateral to financial institution lenders for loan requests where there financial institutions have identified a collateral shortfall. Both the CGP and the SCN programs will be implemented by the Participating Municipalities, as identified in Annex 8, in accordance with the Cooperative Agreement. Section 5.1 of the Allocation Agreement identifies the Participating Municipalities as the agencies responsible for the implementation of the Participating Municipalities’ Approved Municipal Programs. In the application dated, July 20, 2012, the Participating Municipalities identified the Wyoming Smart Capital Network (WSCN), as a contracting entity which would be administering specific aspects of the Approved Municipal Programs. WSCN is a for-profit entity supervised by the Participating Municipalities. As a result of WSCN’s administration of specific aspects of the Approved Municipal Programs, the Participating Municipalities shall extend and apply to WSCN, and shall require WSCN to also comply with, the provisions of Article IV and VI of the Allocation Agreement (except that, for the purpose of extending and applying Articles IV and VI WSCN’s administration of specific aspects of the Approved Municipal Programs, the Participating Municipalities shall substitute references to "Participating Municipalities" in Articles IV and VI with references to “WSCN” except for purposes of Section 4.2, references to OMB Circular A-87 will be substituted with reference to the Federal Acquisition Regulation, 48 C.F.R. Part 31.2).
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PURPOSE OF THE ALLOCATION. This Annex 1 constitutes an integral part of the Allocation Agreement (the “Allocation Agreement”) dated as of [ date ], between the United States Department of the Treasury (the “Treasury”) and the State of [ STATE ] (the “Participating State”). Capitalized terms used herein and not defined herein shall have the respective meanings ascribed to them in the Allocation Agreement. The purpose of the Allocation is to assist the Participating State to increase the amount of capital made available by private lenders to small businesses through its Approved State Program. To accomplish this, the Participating State will undertake the following activities with the Allocated Funds under its Approved State Program:
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Related to PURPOSE OF THE ALLOCATION

  • Timing and Amount of Allocations of Net Income and Net Loss Net Income and Net Loss of the Partnership shall be determined and allocated with respect to each Partnership Year of the Partnership as of the end of each such year. Subject to the other provisions of this Article 6, an allocation to a Partner of a share of Net Income or Net Loss shall be treated as an allocation of the same share of each item of income, gain, loss or deduction that is taken into account in computing Net Income or Net Loss.

  • Plan of Allocation 6.1 After the Settlement Effective Date, the Settlement Administrator shall cause the Net Settlement Amount to be allocated and distributed to Current Participants, Authorized Former Participants, and their Beneficiaries or Alternate Payees, in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court. 6.2 To be eligible for a distribution from the Net Settlement Amount, a person must be a Current Participant, an Authorized Former Participant, or a Beneficiary or Alternate Payee of such a person. 6.2.1 Current Participants shall receive their Settlement payments as contributions to one or more of their accounts in the Plans, as provided in Paragraph 6.4, unless the Current Participant is a Zero Account Balance Current Participant entitled to a payment by check in accordance with Paragraph 6.5. 6.2.2 Authorized Former Participants shall receive their Settlement payments in the form of a check, as provided in Paragraph 6.6 below. 6.2.3 Beneficiaries shall receive payments by check in amounts corresponding to their entitlement as beneficiaries of the Current Participant or of the Authorized Former Participant with respect to which the payment is made. Alternate Payees shall receive payments by check if and to the extent they are entitled to receive a portion of a Current Participant’s or Authorized Former Participant’s allocation under this Article 6 in accordance with the terms of the applicable Qualified Domestic Relations Order on file with the Plans’ recordkeepers. The Settlement Administrator shall have sole and final discretion to determine the amounts to be paid to Beneficiaries and Alternate Payees in accordance with the Plan of Allocation set forth in this Article 6 and as ordered by the Court, and the Settling Parties shall have no liability for such determinations.

  • Section 704(c) Allocations Notwithstanding Section 6.5.A hereof, Tax Items with respect to Property that is contributed to the Partnership with an initial Gross Asset Value that varies from its basis in the hands of the contributing Partner immediately preceding the date of contribution shall be allocated among the Holders for income tax purposes pursuant to Regulations promulgated under Code Section 704(c) so as to take into account such variation. With respect to Partnership Property that is contributed to the Partnership in connection with the General Partner’s initial public offering, such variation between basis and initial Gross Asset Value shall be taken into account under the “traditional method” as described in Regulations Section 1.704-3(b). With respect to other Properties, the Partnership shall account for such variation under any method approved under Code Section 704(c) and the applicable Regulations as chosen by the General Partner. In the event that the Gross Asset Value of any Partnership asset is adjusted pursuant to subsection (b) of the definition of “Gross Asset Value” (provided in Article 1 hereof), subsequent allocations of Tax Items with respect to such asset shall take account of the variation, if any, between the adjusted basis of such asset and its Gross Asset Value in the same manner as under Code Section 704(c) and the applicable Regulations and using the method chosen by the General Partner; provided, however, that the “traditional method” as described in Regulations Section 1.704-3(b) shall be used with respect to Partnership Property that is contributed to the Partnership in connection with the General Partner’s initial public offering. Allocations pursuant to this Section 6.5.B are solely for purposes of Federal, state and local income taxes and shall not affect, or in any way be taken into account in computing, any Partner’s Capital Account or share of Net Income, Net Loss, or any other items or distributions pursuant to any provision of this Agreement.

  • Allocation Following the Closing, Purchaser shall prepare and deliver to Sellers an allocation of the aggregate consideration among Sellers and, for any transactions contemplated by this Agreement that do not constitute an Agreed G Transaction pursuant to Section 6.16, Purchaser shall also prepare and deliver to the applicable Seller a proposed allocation of the Purchase Price and other consideration paid in exchange for the Purchased Assets, prepared in accordance with Section 1060, and if applicable, Section 338, of the Tax Code (the “Allocation”). The applicable Seller shall have thirty (30) days after the delivery of the Allocation to review and consent to the Allocation in writing, which consent shall not be unreasonably withheld, conditioned or delayed. If the applicable Seller consents to the Allocation, such Seller and Purchaser shall use such Allocation to prepare and file in a timely manner all appropriate Tax filings, including the preparation and filing of all applicable forms in accordance with applicable Law, including Forms 8594 and 8023, if applicable, with their respective Tax Returns for the taxable year that includes the Closing Date and shall take no position in any Tax Return that is inconsistent with such Allocation; provided, however, that nothing contained herein shall prevent the applicable Seller and Purchaser from settling any proposed deficiency or adjustment by any Governmental Authority based upon or arising out of such Allocation, and neither the applicable Seller nor Purchaser shall be required to litigate before any court, any proposed deficiency or adjustment by any Taxing Authority challenging such Allocation. If the applicable Seller does not consent to such Allocation, the applicable Seller shall notify Purchaser in writing of such disagreement within such thirty (30) day period, and thereafter, the applicable Seller shall attempt in good faith to promptly resolve any such disagreement. If the Parties cannot resolve a disagreement under this Section 3.3, such disagreement shall be resolved by an independent accounting firm chosen by Purchaser and reasonably acceptable to the applicable Seller, and such resolution shall be final and binding on the Parties. The fees and expenses of such accounting firm shall be borne equally by Purchaser, on the one hand, and the applicable Seller, on the other hand. The applicable Seller shall provide Purchaser, and Purchaser shall provide the applicable Seller, with a copy of any information described above required to be furnished to any Taxing Authority in connection with the transactions contemplated herein.

  • Allocations for Capital Account Purposes For purposes of maintaining the Capital Accounts and in determining the rights of the Partners among themselves, the Partnership’s items of income, gain, loss and deduction (computed in accordance with Section 5.5(b)) shall be allocated among the Partners in each taxable year (or portion thereof) as provided herein below.