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18 4, Zncome and Losses. - 9.1 For the purpose of this Agreement, the following terms shall have the respective meanings set forth below: 9.1.1 "Net income" and "net losses" for t any calendar year or fraction thereof shall mean the income or losses of the Partnership for such period after all expenses incurred in .connection with the Partnership busi- ness have been paid or accrued, including, without limita- tion, interest on loans (including interest on Defieit Loans, but only to the extent such interest is payable as described in Sections 11.2.1, 12.1.1 and 21.5.1), .axes {interest and taxes being taken into account without regard to the require- ments of section 189 of the Internal Revenue Code of 1954, as amended), the management fee provided in Section 16.7, but before making any allowance for depreciation {as defined in Article 10) of the cost of any property of the Partner- ship. Net incase or ne~ losses shall not include any gain or loss realized by the Partnership an the sale or other disposition of any of the Partnership's property or assets. Cansistent with the foregoing definition., net income and net losses shall be determined an the accrual method of account- ing and in accordance with generally accepted accounting practices; provided, however, that all items deductible for