CHANGE IN RESIDUAL INTERESTS Sample Clauses

CHANGE IN RESIDUAL INTERESTS. Notwithstanding the foregoing, in the event any member's Residual Interest changes during a fiscal year for any reason other than an adjustment thereof pursuant to Section 2, including the Transfer of any interest in the Company or an adjustment of the Members' Residual Interests hereunder other than an adjustment thereof pursuant to Section 2, the allocations of taxable income or loss under this Section 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.
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Related to CHANGE IN RESIDUAL INTERESTS

  • Residual Interest and Transfer of Interests 6 Section 3.1. The Residual Interest. 6

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  • Trust Certificates and Transfer of Interests Section 3.01 [Reserved].

  • Trust Certificate Transfer Restrictions No Trust Certificate or any interest therein may be acquired or held by or for the account of, or with the assets of, a Benefit Plan. By accepting and holding a Trust Certificate, the Holder thereof shall be required to have represented and warranted that it is not a Benefit Plan and that it is not acquiring and will not hold such Trust Certificate or any interest therein for the account of, or with the assets of, a Benefit Plan.

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