Common use of Allocations to New Members Clause in Contracts

Allocations to New Members. No Additional Member shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. The Manager may, at its option, at the time an Additional Member is admitted, close the Company books (as though the Company's tax year had ended) or make pro rata allocations of loss, income and expense deductions to an Additional Member for that portion of the Company's tax year in which an Additional Member was admitted, in accordance with the provisions of Section 706(d) of the Code and the Treasury Regulations promulgated thereunder.

Allocations to New Members. No Additional Member new Members shall be entitled to any retroactive allocation of lossesany item of income, income gain, loss, deduction or expense deductions incurred by credit of the Company. The Manager Managers may, at its their option, at the time an Additional a Member is admitted, close the Company books (as though the Company's tax year had ended) or make pro rata allocations of items of income, gain, loss, income and expense deductions deduction or credit to an Additional a new Member for that portion of the Company's tax year in which an Additional a new Member was admitted, admitted in accordance with the provisions of Section 706(d) of the Code and the Treasury Regulations promulgated thereunder.