Common use of Allocation of Income and Loss and Distributions in Respect of Interests Transferred Clause in Contracts

Allocation of Income and Loss and Distributions in Respect of Interests Transferred. (a) If any interest in the company is transferred, or is increased or decreased by reason of the admission of a new Member or otherwise, during any fiscal year of the Company, each item of income, gain, loss, deduction, or credit of the Company for the fiscal year must be assigned pro rata to each day in the particular period of the fiscal year to which the item is attributable (that is, the day on or during which it is accrued or otherwise incurred) and the amount of each item so assigned to any day shall be allocated to the Member based on his, her or its respective interest in the Company at the close of the day. For the purpose of accounting convenience and simplicity, the Company may treat a transfer of, or an increase or decrease in, an interest in the Company that occurs at any time during a semimonthly period (commencing with the semimonthly period including the date of this Agreement) as having been consummated on the first day of the semimonthly period, regardless of when during the semimonthly period the transfer, increase, or decrease actually occurs (that is, sales and dispositions made during the first fifteen (15) days of any month are deemed to have been made on the 16th day of the month). (b) Distributions of the Company assets in respect of any interest in the Company shall be made only to the Members who, according to the books and records of the Company, are holders of record of the interests in respect of which the distributions are made on the actual date of distribution. Neither the Company nor any Member incurs any liability for making distributions in accordance with the provisions of the preceding sentence, whether or not the Company or Member has knowledge or notice of any transfer or purported transfer of ownership of interest the Company that has not been approved by unanimous vote of the Members. Notwithstanding any provision above to the contrary, gain or loss of the Company realized in connection with a sale or other disposition of any of the assets of the company must be allocated solely to the parties owning interests in the Company as of the date the sale or other disposition occurs.

Allocation of Income and Loss and Distributions in Respect of Interests Transferred. (a) If any interest Interest in the company Company is transferred, or is increased or decreased by reason of the admission of a new Member or otherwise, during any fiscal year of the Company, each item of income, gain, loss, deduction, deduction or credit of the Company for the such fiscal year must shall be assigned pro rata to each day in the particular period of the such fiscal year to which the such item is attributable (that isi.e., the day on or during which it is accrued or otherwise incurred) and the amount of each such item so assigned to any such day shall be allocated to the Member based on his, her or upon its respective interest Interest in the Company at the close of the such day. For the purpose of accounting convenience and simplicity, the Company may treat a transfer of, or an increase or decrease in, an interest Interest in the Company that occurs at any time during a semimonthly semi-monthly period (commencing with the semimonthly semi-monthly period including the date of this Agreementhereof) as having been consummated on the first day of the semimonthly such semi-monthly period, regardless of when during the semimonthly such semi-monthly period the such transfer, increase, or decrease actually occurs (that isi.e., sales and dispositions made during the first fifteen (15) 15 days of any month are may be deemed to have been made on the first day of the month and sales and dispositions thereafter may be deemed to have been made on the 16th day of the month). (b) Distributions of the Company assets in respect of any interest an Interest in the Company shall be made only to the Members Persons who, according to the books and records of the Company, are the holders of record of the interests Interests in respect of which the such distributions are made on the actual date of distribution. Neither the Company nor any Member incurs shall incur any liability for making distributions in accordance with the provisions of the preceding sentence, whether or not the Company or the Member has knowledge or notice of any transfer or purported transfer of ownership of interest any Interest in the Company that has not been approved by unanimous vote of the Members. Notwithstanding any provision above to the contrary, gain or loss of the Company realized as provided in connection with a sale or other disposition of any of the assets of the company must be allocated solely to the parties owning interests in the Company as of the date the sale or other disposition occursthis Agreement.

Allocation of Income and Loss and Distributions in Respect of Interests Transferred. (a) 3.4.1 If any interest Interest in the company Company is transferred, or is increased or decreased by reason of the admission of a new Member or otherwise, during any fiscal year of the Company, each item of income, gain, loss, deduction, deduction or credit of the Company for the such fiscal year must shall be assigned pro rata to each day in the particular period of the such fiscal year to which the such item is attributable (that isi.e., the day on or during which it is accrued or otherwise incurred) and the amount of each such item so assigned to any such day shall be allocated to the Member based on his, her or its respective interest in the Company upon Section 3.1.1 at the close of the such day. For the purpose of accounting convenience and simplicity, the Company may treat a transfer of, or an increase or decrease in, an interest Interest in the Company that which occurs at any time during a semimonthly period (commencing with the semimonthly period including the date of this Agreementhereof) as having been consummated on the first day of the such semimonthly period, regardless of when during the such semimonthly period the such transfer, increase, or decrease actually occurs (that isi.e., sales and dispositions made during the first fifteen (15) days of any month are will be deemed to have been made on the 16th day of the month). (b) 3.4.2 Distributions of the Company assets in respect of any interest an Interest in the Company shall be made only to the Members who, according to the books and records of the Company, are the holders of record of the interests Interests in respect of which the such distributions are made on the actual date of distribution. Neither the Company nor any Member incurs shall incur any liability for making distributions in accordance with the provisions of the preceding sentence, whether or not the Company or the Member has knowledge or notice of any transfer or purported transfer of ownership of interest an Interest in the Company that which has not been approved in accordance with this Agreement or otherwise by unanimous vote of the Members. Notwithstanding any provision above to the contrary, gain or loss of the Company realized in connection with a sale or other disposition of any of the assets of the company must Company shall be allocated solely to the parties owning interests Interests in the Company as of the date the such sale or other disposition occurs.

Allocation of Income and Loss and Distributions in Respect of Interests Transferred. (a) If any interest in the company is transferred, or is increased or decreased by reason of the admission of a new Member or otherwise, during any fiscal year of the Company, each item of income, gain, loss, deduction, or credit of the Company for the fiscal year must be assigned pro rata to each day in the particular period of the fiscal year to which the item is attributable (that is, the day on or during which it is accrued or otherwise incurred) and the amount of each item so assigned to any day shall be allocated to the Member based on his, his or her or its respective interest in the Company at the close of the day. For the purpose of accounting convenience and simplicity, the Company may treat a transfer of, or an increase or decrease in, an interest in the Company that occurs at any time during a semimonthly period (commencing with the semimonthly period including the date of this Agreement) as having been consummated on the first day of the semimonthly period, regardless of when during the semimonthly period the transfer, increase, or decrease actually occurs (that is, sales and dispositions made during the first fifteen (15) days of any month are deemed to have been made on the 16th day of the month). (b) Distributions of the Company assets in respect of any interest in the Company shall be made only to the Members who, according to the books and records of the Company, are holders of record of the interests in respect of which the distributions are made on the actual date of distribution. Neither the Company nor any Member incurs any liability for making distributions in accordance with the provisions of the preceding sentence, whether or not the Company or Member has knowledge or notice of any transfer or purported transfer of ownership of interest the Company that has not been approved by unanimous vote of the Members. Notwithstanding any provision above to the contrary, gain or loss of the Company realized in connection with a sale or other disposition of any of the assets of the company must be allocated solely to the parties owning interests in the Company as of the date the sale or other disposition occurs.