ALLOCATIONS RELATING TO CAPITAL TRANSACTIONS. In connection with the sale or other disposition of all or substantially all of the assets of the Company (including upon liquidation of the Company), items of income, gain, loss and deduction shall, except as otherwise required by subsections (b) through (f) above, be allocated to the Members in the following manner: in such amounts as shall cause (A) the ratio of the Capital Account of each Member to the aggregate Capital Accounts of all Members to (B) equal as nearly as possible each Member’s respective Percentage Interest.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Phillips 66), Consent Agreement (Phillips 66)
ALLOCATIONS RELATING TO CAPITAL TRANSACTIONS. In connection with the sale or other disposition of all or substantially all of the assets of the Company (including upon liquidation of the Company), items of income, gain, loss and deduction shall, except as otherwise required by subsections (b) through (f) above, be allocated to the Members in the following order and manner: in such amounts as shall cause (A) the ratio of the Capital Account of each Member to the aggregate Capital Accounts of all Members to (B) equal as nearly as possible each Member’s respective Percentage Interest.:
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Phillips 66), Limited Liability Company Agreement (Chevron Phillips Chemical Co Lp)
