Allocation in Event of Transfer. If there is a change in any Member’s interest in the Company, whether by reason of a transfer of such interest, the admission of a new Member or otherwise, during any fiscal year or other relevant period, Net Profits, Net Losses and items thereof for such fiscal year or other relevant period shall be allocated using such method(s) that the Manager shall determine to use and which is permissible under Section 706(d) of the Code and the Treasury Regulations thereunder.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Generation Income Properties, Inc.), Limited Liability Company Agreement (Generation Income Properties, Inc.), Limited Liability Company Agreement (Generation Income Properties, Inc.)
Allocation in Event of Transfer. If there is a change in any Member’s interest in the Company, whether by reason of a transfer of such interest, the admission of a new Member or otherwise, during any fiscal year or other relevant period, Net Profits, Net Losses and items thereof for such fiscal year or other relevant period shall be allocated using such method(s) that the Manager Managing Member shall determine to use and which is permissible under Section 706(d) of the Code and the Treasury Regulations thereunder.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Generation Income Properties, Inc.)
Allocation in Event of Transfer. If there is a change in any Member’s 's interest in the Company, whether by reason of a transfer of such interest, the admission of a new Member or otherwise, during any fiscal year or other relevant period, Net Profits, Net Losses and items thereof for such fiscal year or other relevant period shall be allocated using such method(s) that the Manager shall determine to use and which is permissible under Section 706(d) of the Code and the Treasury Regulations thereunder.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Generation Income Properties, Inc.)
