Allocation of Profits and Losses; Tax Status. The Company’s profits and losses shall be allocated to the Member. At all times that the Company has only one member (who owns 100% of the membership interests in the Company), it is the intention of the Member that the Company be disregarded for federal income tax purposes. No Person shall take any action that would be inconsistent with such treatment.
Appears in 32 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Limited Liability Company Agreement (United States Brent Oil Fund, LP)
Allocation of Profits and Losses; Tax Status. The Company’s profits and losses shall be allocated to the Member. At all times that the Company has only one member (who owns 100% of the membership interests in the Company)member, it is the intention of the Member that the Company be disregarded for federal federal, state, local and foreign income tax purposes. No Person shall take any action that would be inconsistent with such treatment.
Appears in 10 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Operating Agreement (Red Oak Capital Fund VII, LLC), Limited Liability Company Agreement (Phoenix Capital Group Holdings I LLC)
Allocation of Profits and Losses; Tax Status. The Company’s profits and losses shall be allocated to the Member. At all times that the Company has only one member (who owns 100% of the membership limited liability company interests in the Company), it is the intention of the Member that the Company be disregarded for federal federal, state, local and foreign income tax purposes. No Person shall take any action purposes and that would the Company be inconsistent with such treatmenttreated as a division of the Member.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Everi Games Inc.), Limited Liability Company Agreement (Anvilire), Limited Liability Company Agreement (American Azide CORP)
Allocation of Profits and Losses; Tax Status. The Company’s profits and losses shall be allocated to the Member. At all times that the Company has only one member (who owns 100% of the membership limited liability company interests in the Company), it is the intention of the Member that the Company be disregarded for federal federal, state, local and foreign income tax purposes. No Person shall take any action that would be inconsistent with such treatment.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Incapital Trust Products II LLC)
Allocation of Profits and Losses; Tax Status. The Company’s 's profits and losses shall be allocated to the Member. At all times that the Company has only one member (who owns 100% of the membership limited liability company interests in the Company), it is the intention of the Member that the Company be disregarded for federal federal, state, local and foreign income tax purposes. No Person shall take any action that would be inconsistent with such treatment.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Huron Consulting Group Inc.)
Allocation of Profits and Losses; Tax Status. The Company’s profits and losses shall be allocated in proportion to the Membercapital contributions of the Members. At all times that the Company has only one member (who owns 100% of the membership limited liability company interests in the Company), it is the intention of the Member that the Company be disregarded for federal federal, state, local and foreign income tax purposes. No Person shall take any action that would be inconsistent with such treatment.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Incapital Trust Products LLC)
