Common use of Allocations Upon Transfer or Admission Clause in Contracts

Allocations Upon Transfer or Admission. In the event that a Member acquires an interest in the Company either by transfer from another Member or by acquisition from the Company, the Net Profits, Net Losses gross income, nonrecourse deductions and items thereof attributable to the interest so transferred or acquired shall be allocated among the Members based on a method chosen by the Board of Managers, in its sole discretion, which method shall comply with Section 706 of the Code and shall be binding on all Members. For purposes of determining the date on which the acquisition occurs, the Company may make use of any convention allowable under Section 706(d) of the Code.

Allocations Upon Transfer or Admission. In the event that a Member acquires an interest in the Company either by transfer Transfer from another Member or by acquisition from the Company, the Net Profits, Net Losses Losses, gross income, nonrecourse deductions and items thereof attributable to the interest so transferred Transferred or acquired shall be allocated among the Members based on a method chosen by the Board of ManagersDirectors, in its sole discretion, which method shall comply with Section 706 of the Code and shall be binding on all Members. For purposes of determining the date on which the Transfer or acquisition occurs, the Company may make use of any convention allowable under Section 706(d) of the Code.

Allocations Upon Transfer or Admission. In the event that a Member acquires an interest in the Company either by transfer Transfer from another Member or by acquisition from the Company, the Net Profits, Net Losses Losses, gross income, nonrecourse deductions and items thereof attributable to the interest so transferred Transferred or acquired shall be allocated among the Members based on a method chosen by the Board of ManagersBoard, in its sole discretion, which method shall comply with Section 706 of the Code and shall be binding on all Members. For purposes of determining the date on which the acquisition occurs, the Company may make use of any convention allowable under Section 706(d) of the Code.