Allocation Rules. (a) In the event there is a change in the respective Percentage Interests of Members during the year, the Profits (or Losses) allocated to the Members for each Fiscal Year during which there is a change in the respective Percentage Interests of Members during the year shall be allocated among the Members in proportion to the Percentage Interests during such Fiscal Year in accordance with Code Section 706, using any convention permitted by law and selected by the Board.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Petro River Oil Corp.), Limited Liability Company Agreement (Bitzumi, Inc.), Subscription Agreement (Petro River Oil Corp.)
Allocation Rules. (a) In the event there is a change in the respective Percentage Interests of Members during the year, the The Profits (or Losses) allocated to the Members for each Fiscal Year or portion thereof during which there is a change in the respective Percentage Interests of Members during the year shall be allocated among the Members in proportion to the Percentage Interests during such Fiscal Year or portion thereof in accordance with Code Section 706SECTION 706 of the Code, using any convention permitted by law and selected by the BoardBoard pursuant to Section 5.3(b).
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Norfolk Southern Corp), Limited Liability Company Agreement (Norfolk Southern Corp)
Allocation Rules. (a) In the event there is a change in the respective Economic Percentage Interests of Members during the year, the Profits (or Losses) allocated to the Members for each Fiscal Year during which there is a change in the respective Economic Percentage Interests of Members during the year shall be allocated among the Members in proportion to the Economic Percentage Interests during such Fiscal Year in accordance with Code Section 706ss.706 of the Code, using any convention permitted by law and selected by the Company Board.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Usa Networks Inc), Limited Liability Company Agreement (Tele Communications Inc /Co/)
