Allocation of Net Income or Loss. Except as otherwise mandated by Treasury Regulations under Section 704 of the Internal Revenue Code, all items of income, gain, loss, deduction, credit or tax preference entering into the computation or net income or loss for any fiscal period shall be allocated, as appropriate based upon the source of such item and to the Members in accordance with their respective percentage interests in the Company.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Accentia Biopharmaceuticals Inc), Limited Liability Company Agreement (Biovest International Inc)
Allocation of Net Income or Loss. Except as otherwise mandated by Treasury Regulations under Section 704 of the Internal Revenue Code, all items of income, gain, loss, deduction, credit or tax preference entering into the computation or net income or loss for any fiscal period shall be allocated, as appropriate based upon the source of such item and to the Members in accordance with their respective percentage interests in the Company.. Section 3.03
Appears in 1 contract
Samples: Limited Liability Company Agreement
Allocation of Net Income or Loss. Except as otherwise mandated by Treasury Regulations under Section 704 of the Internal Revenue Code, all items of income, gain, loss, deduction, credit or tax preference entering into the computation or net income or loss for any fiscal period shall be allocated, as appropriate based upon the source of such item and to the Members Member in accordance with their respective percentage interests in the Company.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Biovest International Inc)
