Allocation of Gain. Any income or gain from the sale or exchange of all or substantially all of the Company’s assets shall be allocated, first, to those Members with capital account balances less than the amounts of their respective Capital Contributions that have not previously been distributed, that amount of income or gain, if any, necessary to increase their capital account balances to the amount of their Capital Contributions not previously distributed; and thereafter, the remaining income or gain, if any, shall be allocated to the Members, ratably in proportion to their Ownership Percentages.
Appears in 10 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement (Northern Growers LLC)
Allocation of Gain. Any income Income or gain from the sale or exchange other disposition of all or substantially all of the Company’s assets shall be allocatedallocated among the Members, first, to those Members with capital account balances less than the in such respective amounts of their respective as shall cause each Member’s Capital Contributions that have not previously been distributed, that amount Account (increased by such amounts of income or gain, if any, necessary ) to increase their capital account balances bear a ratio to the amount aggregate Capital Account balance of their Capital Contributions not previously distributed; and all Members which, expressed as a percentage, is equal to such Member’s Ownership Percentage, and, thereafter, the remaining income or gain, if any, shall be allocated to the Members, ratably in proportion to their respective Ownership Percentages.
Appears in 7 contracts
Samples: Operating Agreement, Operating Agreement (South Dakota Soybean Processors LLC), Operating Agreement (South Dakota Soybean Processors LLC)
Allocation of Gain. Any income or gain from the sale or exchange of all or substantially all of the Company’s 's assets shall be allocated, first, to those Members with capital account balances less than the amounts of their respective Capital Contributions that have not previously been distributed, that amount of income or gain, if any, necessary to increase their capital account balances to the amount of their Capital Contributions not previously distributed; and thereafter, the remaining income or gain, if any, shall be allocated to the Members, ratably in proportion to their Ownership PercentagesPercentage Interests.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (Husker Ag Processing LLC)
Allocation of Gain. Any income or gain from the sale or exchange of all or substantially all of the Company’s assets shall be allocated, first, to those Members with capital account balances less than the amounts of their respective Capital Contributions that have not previously been distributed, that amount of income or gain, if any, necessary to increase their capital account balances to the amount of their Capital Contributions not previously distributed; and thereafter, the remaining income or gain, if any, shall be allocated to the Members, ratably in proportion to their Ownership Percentages.. (b)
Appears in 1 contract
Samples: Operating Agreement (Lake Area Corn Processors LLC)
Allocation of Gain. Any income or gain from the sale or exchange of all or substantially all of the Company’s assets shall be allocated, first, to those Members with capital account balances less than the amounts of their respective Capital Contributions that have not previously been distributed, that amount of income or gain, if any, necessary to increase their capital account balances to the amount of their Capital Contributions not previously distributed; and thereafter, the remaining income or gain, if any, shall be allocated to the Members, ratably in proportion to their Ownership PercentagesPercentage Interests.
Appears in 1 contract
Samples: Operating Agreement (Husker Ag LLC)