Common use of Allocations During Period of Liquidation Clause in Contracts

Allocations During Period of Liquidation. For the avoidance of doubt, during the period commencing on the first day of the Fiscal Year during which a Liquidation Event has occurred and ending on the date on which all of the assets of the Company have been distributed to the Members pursuant to Section 12.2 hereof, the Members shall continue to share in Net Income, Net Losses, and other items of Company income, gain, loss or deduction in the manner provided in Article IV hereof.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (APT Sunshine State LLC), Limited Liability Company Agreement (Resource America Inc)

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Allocations During Period of Liquidation. For the avoidance of doubt, during During the period commencing on the first day of the Fiscal Year fiscal quarter during which a Liquidation Event has occurred dissolution event described in Section 13.1 hereof occurs and ending on the date on which all of the assets of the Company have been distributed to the Members pursuant to Section 12.2 13.2.4 hereof, the Members shall continue to share in Net IncomeProfits, Net Losses, gain, loss and other items of Company income, gain, loss or deduction in the manner provided in Article IV 7 hereof.

Appears in 1 contract

Samples: Limited Liability Company Agreement (CNL Hospitality Properties Inc)

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Allocations During Period of Liquidation. For the avoidance of doubtExcept as otherwise provided in Section 9.2 hereof, during the period commencing on the first day of the Fiscal Year year during which a Liquidation Dissolution Event has occurred occurs and ending on the date on which all of the assets of the Company have been distributed to the Members pursuant to Section 12.2 9.2 hereof, the Members shall continue to share in Net IncomeProfits, Net Losses, gain, loss and other items of Company income, gain, loss or deduction in the manner provided in Article IV Section 3 hereof taking into account the provisions of Section 9.2 hereof.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Lakes Entertainment Inc)

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