Change in Membership Interests. If there is a change in any Member's Membership Interest during any year, allocations among the Members shall be made in accordance with their Membership Interests in the Company from time to time during such year in accordance with Section 706 of the Code using the closing-of-the-books method, except that depreciation, amortization and similar items shall be deemed to accrue ratably on a daily basis over the entire year during which the corresponding asset is owned by the Company for the entire year, and over the portion of a year after such asset is placed in service by the Company if such asset is placed in service during the year.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (Urs Corp /New/), Limited Liability Company Agreement (Prologis Trust), Limited Liability Company Agreement (Gotham Golf Corp)
Change in Membership Interests. If there is a change in any Member's ’s Membership Interest during any year, allocations among the Members shall be made in accordance with their Membership Interests in the Company from time to time during such year year, in accordance with Section 706 of the Code using the closing-of-the-books method, except that depreciation, amortization and similar items shall be deemed to accrue ratably on a daily basis over the entire year during which the corresponding asset is owned by the Company for the entire year, and over the portion of a year after such asset is placed in service by the Company if such asset is placed in service during the year.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Helpful Alliance Co)
Change in Membership Interests. If there is a change in any Member's ’s Membership Interest during any year, allocations among the Members shall be made in accordance with their Membership Interests in the Company from time to time during such year in accordance with Section 706 of the Code using the closing-of-the-books method, except that depreciation, amortization and similar items shall be deemed to accrue ratably on a daily basis over the entire year during which the corresponding asset is owned by the Company for the entire year, and over the portion of a year after such asset is placed in service by the Company if such asset is placed in service during the year.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Urs Corp /New/)
