Allocations in Event of Sale. If an interest in the Company is Sold in accordance with Article 10 of this Agreement, the Net Profit and Net Loss of the Company shall be calculated as of the end of the month immediately prior to the month in which the sale occurs. The transferor Member shall be allocated an amount equal to the Net Profit and Net Loss of the Company allocable to the period ending on the last day of the month immediately prior to the Sale. The transferee of the interest in the Company to be so Sold shall be allocated an amount equal to the Net Profit and Net Loss of the Company allocable to the remainder of the calendar year. This paragraph shall apply for purposes of computing a Member's Capital Account and for federal income tax purposes.
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Samples: Series C Preferred Stock Purchase Agreement (Mp3 Com Inc), Series C Preferred Stock Purchase Agreement (Mp3 Com Inc), Series C Preferred Stock Purchase Agreement (Mp3 Com Inc)
Allocations in Event of Sale. If an interest a Membership Interest in the Company is Sold in accordance with Article 10 of this Agreement, the Net Profit and Net Loss of the Company shall be calculated as of the end of the month immediately prior to the month in which the sale occurs. The transferor Member shall be allocated an amount equal to the Net Profit and Net Loss of the Company allocable to the period ending on the last day of the month immediately prior to the Sale. The transferee of the interest in the Company to be so Sold shall be allocated an amount equal to the Net Profit and Net Loss of the Company allocable to the remainder of the calendar year. This paragraph shall apply for purposes of computing a Member's Capital Account and for federal income tax purposes.
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Samples: Limited Liability Company Agreement (Vornado Operating Co)
Allocations in Event of Sale. If an interest in the Company is Sold in accordance with Article 10 of this Agreement, the Net Profit and Net Loss of the Company shall be calculated as of the end of the month immediately prior to the month in which the sale Sale occurs. The transferor Member shall be allocated an amount equal to the Net Profit and Net Loss of the Company allocable to the period ending on the last day of the month immediately prior to the Sale. The transferee of the interest in the Company to be so Sold shall be allocated an amount equal to the Net Profit and Net Loss of the Company allocable to the remainder of the calendar year. This paragraph shall apply for purposes of computing a Member's Capital Account and for federal income tax purposes.
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