Allocation of Liabilities. Each Member’s interest in “partnership” profits for purposes of determining that Member’s share of “excess nonrecourse liabilities” of the Company as used in Section 1.752-3(a)(3) of the Treasury Regulations, shall be equal to that Member’s Percentage Interest.
Appears in 5 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Kennedy-Wilson Properties (IL)), Limited Liability Company Agreement (Kennedy-Wilson Properties (IL))
Allocation of Liabilities. Each Solely for purposes of determining the Members’ respective shares of the nonrecourse liabilities of the Company within the meaning of Treasury Regulations Section 1.752-3(a)(3), each Member’s interest in “partnership” profits for purposes of determining that Member’s share of “excess nonrecourse liabilities” of the Company as used in Section 1.752-3(a)(3) of the Treasury Regulations, Profits shall be equal to the ratio that such Member’s Percentage InterestInterest bears to the aggregate Percentage Interests of all of the Members.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Maxygen Inc), Limited Liability Company Agreement (Maxygen Inc)
Allocation of Liabilities. Each Solely for purposes of determining the Members’ respective shares of the Company’s “non-recourse liabilities” within the meaning of Regulation Section 1.752-3(a)(3), each Member’s interest in “partnership” profits for purposes of determining that Member’s share of “excess nonrecourse liabilities” of the Company as used in Section 1.752-3(a)(3) of the Treasury Regulations, Profits shall be equal to that such Member’s Percentage Interest.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Gc Net Lease Reit, Inc.)
Allocation of Liabilities. Each Member’s Member s interest in “partnership” partnership profits for purposes of determining that Member’s Member s share of “excess nonrecourse liabilities” liabilities of the Company as used in Section 1.752-3(a)(3) of the Treasury Regulations, shall be equal to that Member’s Member s Percentage Interest.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Global Clean Energy Holdings, Inc.)
Allocation of Liabilities. Each Solely for purposes of determining the Members’ respective shares of the nonrecourse liabilities of the Company within the meaning of Treasury Regulation Section 1.752-3(a)(3), each Member’s interest in “partnership” profits for purposes of determining that Member’s share of “excess nonrecourse liabilities” of the Company as used in Section 1.752-3(a)(3) of the Treasury Regulations, Profits shall be equal to the ratio that such Member’s Allocation Percentage Interestbears to the aggregate Allocation Percentages of the Members.
Appears in 1 contract
Samples: Operating Agreement (Liveworld Inc)
