Common use of Allocations in Event of Transfer Clause in Contracts

Allocations in Event of Transfer. In the event of the transfer of a Member's Membership Interest (in accordance with and subject to the provisions of this Agreement) in the Company at any time other than at the end of a Fiscal Year, or the admission of a new Member at any time other than the end of a Fiscal Year, or the making by the Members of disproportionate capital contributions, the periods before and after such transfer, admission or disproportionate capital contributions shall be treated as separate fiscal years, and the Company's net income, net loss and credits for each of such deemed separate fiscal years shall be allocated in accordance with the Members' respective Allocation Interests for each of such deemed separate fiscal years.

Appears in 3 contracts

Samples: Operating Agreement (Eacc Camps Inc), Operating Agreement (Eacc Camps Inc), Operating Agreement (Eacc Camps Inc)

AutoNDA by SimpleDocs

Allocations in Event of Transfer. In the event of the transfer of a Member's ’s Membership Interest (in accordance with and subject to the provisions of this Agreement) in the Company at any time other than at the end of a Fiscal Year, or the admission of a new Member at any time other than the end of a Fiscal Year, or the making by the Members of disproportionate capital contributions, the periods before and after such transfer, admission or disproportionate capital contributions shall be treated as separate fiscal years, and the Company's ’s net income, net loss and credits for each of such deemed separate fiscal years shall be allocated in accordance with the Members' respective Allocation Interests for each of such deemed separate fiscal years.

Appears in 2 contracts

Samples: Operating Agreement (Pacific Export Resources, LLC), Operating Agreement (Pacific Export Resources, LLC)

Allocations in Event of Transfer. In the event of the transfer of a Member's ’s Membership Interest (in accordance with and subject to the provisions of this Agreement) in the Company at any time other than at the end of a Fiscal Year, or the admission of a new Member at any time other than the end of a Fiscal Year, or the making by the Members of disproportionate capital contributions, the periods before and after such transfer, admission or disproportionate capital contributions shall be treated as separate fiscal years, and the Company's ’s net income, net loss and credits for each of such deemed separate fiscal years shall be allocated in accordance with the Members' ° respective Allocation Interests Percentage Interest for each of such deemed separate fiscal years.

Appears in 1 contract

Samples: Operating Agreement (Pacific Export Resources, LLC)

Allocations in Event of Transfer. In the event of the transfer of a Member's Membership Interest (in accordance with and subject to the provisions of this Agreement) in the - Company at any time other than at the end of a Fiscal Year, or the admission of a new Member at any time other than the end of a Fiscal Year, or the making by the Members of disproportionate capital contributions, the periods before and after such transfer, admission or disproportionate capital contributions shall be treated as separate fiscal years, and the Company's net income, net loss and credits for each of such deemed separate fiscal years shall be allocated in accordance with the Members' respective Allocation Interests for each of such deemed separate fiscal years.

Appears in 1 contract

Samples: Operating Agreement (Eacc Camps Inc)

AutoNDA by SimpleDocs

Allocations in Event of Transfer. In the event of (i) the transfer of a Member's ’s Membership Interest interest (in accordance with and subject to the provisions of this Agreement) in the Company at any time other than at the end of a Fiscal YearCompany, or (ii) the admission of a new Member Member, or (iii) the making by the Members of disproportionate capital contributions, at any time other than the end of a Fiscal Year, or the making by the Members of disproportionate capital contributions, the periods before and after atter such transfer, admission or disproportionate capital contributions shall be treated as separate fiscal years, and the Company's ’s net income, net loss and credits for each of such deemed separate fiscal years shall be allocated in accordance with the Members' respective Allocation Percentage Interests for each of such deemed separate fiscal years.

Appears in 1 contract

Samples: Operating Agreement (Pacific Export Resources, LLC)

Time is Money Join Law Insider Premium to draft better contracts faster.