Allocations and Adjustments Upon Transfer. In the event of a Transfer of all or any Membership Interest or Economic Interest in the Company in accordance with this Agreement, at any time other than at the end of the Company’s fiscal year, the profits, gains, losses, deductions and credits of the Company for such fiscal year shall be allocated between or among the respective parties or the Members, as the case may be, in such manner as determined by the Managing Member which is consistent with the provisions of Code Section 706(d) or any applicable successor thereto.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Nationwide Health Properties Inc), Management Agreement (Nationwide Health Properties Inc)
Allocations and Adjustments Upon Transfer. In the event of a Transfer of all or any Membership Interest or Economic Company Interest in the Company in accordance with this Agreement, at any time other than at the end of the Company’s fiscal yearFiscal Year, the profits, gains, losses, deductions and credits of the Company for such fiscal year Fiscal Year shall be allocated between or among the respective parties or the Members, as the case may be, in such manner as determined by the Managing Member which is Investor to be consistent with the provisions of Code Section 706(d) or any applicable successor thereto.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.), Limited Liability Company Agreement (Behringer Harvard Opportunity REIT II, Inc.)
