ALLOCATIONS IN CASE OF ASSIGNMENT. Net Income or Net Loss allocable to any Member whose Membership Interest has been Assigned, in whole or in part, during any fiscal year shall be allocated among the persons who were the holders of such interests during such year in proportion to their respective holding periods, without separate determination of the results of LLC operations during such periods. Net Income or Net Loss attributable to a sale or other disposition of all or any portion of the assets of the LLC shall be allocated to those Members who were Members at the time of the occurrence of the disposition giving rise to such Net Income or Net Loss.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (O Charleys Inc), Operating Agreement (O Charleys Inc), Operating Agreement (O Charleys Inc)
