Allocation of Profits and Losses for Tax Purposes. The Company shall maintain a separate capital account for the Member in accordance with the rules applicable to partnerships in Treasury Regulation 1.7041(b)(2)(iv) or any successor Treasury Regulations which by their terms would be applicable to the Company. All profits and losses of the Company shall be allocated to the Member.
Appears in 26 contracts
Samples: Limited Liability Company Agreement (ICG Knott County, LLC), Limited Liability Company Agreement (ICG Knott County, LLC), Limited Liability Company Agreement (ICG Knott County, LLC)
Allocation of Profits and Losses for Tax Purposes. The Company shall maintain a separate capital account for the Member in accordance with the rules applicable to partnerships in Treasury Regulation 1.7041(b)(2)(iv1.704 1(b)(2)(iv) or any successor Treasury Regulations which by their terms would be applicable to the Company. All profits and losses of the Company shall be allocated to the Member.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Catenary Coal Holdings Inc), Limited Liability Company Agreement (Catenary Coal Holdings Inc), Limited Liability Company Agreement (ICG Knott County, LLC)
