Changes in Members’ Interest. If during any year of the Company there is a change in any Member’s interest in the Company, the Managing Member shall confer with the tax advisors to the Company and, in conformity with such advice, allocate the Net Profit or Net Loss to the Members so as to take into account the varying interests of the Members in the Company in a manner that complies with the provisions of Section 706 of the Code and the regulations promulgated thereunder.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Marathon Patent Group, Inc.), Limited Liability Company Agreement (Inventergy Global, Inc.)
Changes in Members’ Interest. If during any year Fiscal Year of the Company there is a change in any Member’s interest Interest in the Company, the Managing Member Board of Managers shall confer with the tax advisors to the Company and, in conformity with such advice, advice allocate the Net Profit or Net Loss to the Members so as to take into account the varying interests Interests of the Members in the Company in a manner that complies with the provisions of Section 706 of the Code and the regulations promulgated Regulations thereunder.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Archipelago Learning, Inc.)
Changes in Members’ Interest. If during any year of the Company there is a change in any Member’s interest Interest in the Company, the Managing Member Board of Managers shall confer with the tax advisors to the Company and, in conformity with such advice, advice allocate the Net Profit or Net Loss to the Members so as to take into account the varying interests Interests of the Members in the Company in a manner that complies with the provisions of Section 706 of the Code and the regulations promulgated Regulations thereunder.
Appears in 1 contract
Samples: Limited Liability Company Agreement (National Commerce Corp)
