Changes in Ownership Interest. Upon the admission of an Additional Member or the transfer of an Ownership Interest in the Company, the Members shall determine the proper allocation of Net Income, Net Loss and items of income, gain, loss, deduction and credit to the periods before and after such admission or transfer using any method permitted under Code section 706 and the Treasury Regulations thereunder.
Appears in 18 contracts
Samples: Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC), Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC), Limited Liability Company Operating Agreement (Conversent Communications of New York, LLC)
