Change in Percentage Interests. Notwithstanding the foregoing, in the event any Member's Residual Percentage changes during a fiscal year for any reason, the allocations of taxable income or loss under this Article 3, and distributions, shall be adjusted as necessary to reflect the varying interests of the Members during such year using an interim closing of the books method as of the date of such change, or such other method as is reasonably Approved by the Members.
Appears in 3 contracts
Samples: Operating Agreement (3100 Glendale Joint Venture), Operating Agreement (3100 Glendale Joint Venture), Operating Agreement (3100 Glendale Joint Venture)
