ALLOCATIONS OF TAX CREDITS. 5.1. Tax credits shall be allocated in accordance with the Member’s Percentage Interest. 5.2. The Members acknowledge and agree that because the purpose of the Company is to make the Contributions described in Section 4.3 and not to engage in business activities, it is intended that the Company make distributions and allocations only of tax credits and charitable deductions that result from the Company's activities, and it is not intended or expected that the Company make cash distributions to any Members at any time.
Appears in 5 contracts
Samples: Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
ALLOCATIONS OF TAX CREDITS. 5.1. Tax credits shall be allocated in accordance with the Member’s 's Percentage Interest.
5.2. The Members acknowledge and agree that because the purpose of the Company is to make the Contributions described in Section 4.3 and not to engage in business activities, it is intended that the Company make distributions and allocations only of tax credits and charitable deductions that result from the Company's activities, and it is not intended or expected that the Company make cash distributions to any Members at any time.
Appears in 1 contract
Samples: Operating Agreement
