Common use of Allocations of Net Income and Net Losses for U.S. Federal Income Tax Purposes Clause in Contracts

Allocations of Net Income and Net Losses for U.S. Federal Income Tax Purposes. (a) Except as otherwise provided in Section 6.3(b), for U.S. federal income tax purposes, each item of income, gain, loss, deduction and credit of the Company for each taxable year of the Company shall be allocated among the Members in the same manner as its corresponding item of “book” income, gain, loss, deduction and credit is allocated pursuant to Section 6.2(c).