Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' varying Sharing Ratios.
Appears in 26 contracts
Samples: Limited Liability Company Agreement (Somerset Power LLC), Limited Liability Company Agreement (Louisiana Generating LLC), Limited Liability Company Agreement (Louisiana Generating LLC)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's ’s Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee Board to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing Ratios.
Appears in 20 contracts
Samples: Limited Liability Company Agreement (Blueknight Energy Holding, Inc.), Limited Liability Company Agreement (CB-Blueknight, LLC), Limited Liability Company Agreement (TW Southcross Aggregator LP)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's ’s Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee Members in their sole discretion to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing Ratios.
Appears in 13 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee Board to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' varying Sharing Ratios.
Appears in 11 contracts
Samples: Limited Liability Company Agreement (Magellan Midstream Partners Lp), Limited Liability Company Agreement (Williams Energy Partners L P), Limited Liability Company Agreement (Buckeye Partners L P)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's Sharing Ratio’s Ownership Percentage, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee Board to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing RatiosOwnership Percentages.
Appears in 9 contracts
Samples: Limited Liability Company Agreement (Crestwood Equity Partners LP), Contribution Agreement (Consolidated Edison Inc), Contribution Agreement (Crestwood Midstream Partners LP)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day Day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's ’s Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined based on any method determined by the Management Committee to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing Ratios.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (RGC Resources Inc), Limited Liability Company Agreement (EQT Midstream Partners, LP), Limited Liability Company Agreement (EQT Corp)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's ’s Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing Ratios.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Piedmont Natural Gas Co Inc), Limited Liability Company Agreement (Onsite Energy, Inc.), Limited Liability Company Agreement (Spectra Energy Partners, LP)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's ’s Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Executive Committee to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing Ratios.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (NRG Retail LLC), Limited Liability Company Agreement (NRG Retail LLC), Limited Liability Company Agreement (NRG Retail LLC)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's ’s Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing Ratios.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Spectra Energy Partners, LP), Limited Liability Company Agreement (New Jersey Resources Corp)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's Sharing Ratio’s Membership Interest, the Members agree that their allocable shares of such items for the taxable year shall be determined on by any method determined by the Management Committee to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing Ratiosnumber of Membership Interests.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (GDT TEK, Inc.), Limited Liability Company Agreement (Composite Technology Corp)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined based on any method determined by the Management Committee Board of Directors to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' varying Sharing Ratios.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Enterprise Products Partners L P), Limited Liability Company Agreement (Enterprise Products Partners L P)
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's Sharing Ratio, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee Managing Member to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' varying Sharing Ratios.
Appears in 1 contract
Varying Interests. All items of income, gain, loss, deduction or credit shall be allocated, and all distributions shall be made, to the Persons shown on the records of the Company to have been Members as of the last calendar day of the period for which the allocation or distribution is to be made. Notwithstanding the foregoing, if during any taxable year there is a change in any Member's Sharing Ratio’s Percentage Interest, the Members agree that their allocable shares of such items for the taxable year shall be determined on any method determined by the Management Committee to be permissible under Code Section 706 and the related Treasury Regulations to take account of the Members' ’ varying Sharing RatiosPercentage Interests.
Appears in 1 contract
Samples: Limited Liability Company Agreement (El Paso Pipeline Partners, L.P.)
