Changes in Percentage Interests. If a Partner's Percentage Interest changes during any fiscal year, the allocations to be made pursuant to this Agreement shall be made in accordance with Section 706 of the Code, using any convention permitted by Section 706 of the Code and the Regulations promulgated thereunder and selected by the General Partner so as to equitably effectuate the allocations of this Article IV.
Changes in Percentage Interests. Upon any change in the relative Percentage Interests, whether by reason of the admission or withdrawal of a Member, a Transfer or otherwise, the Members' shares of Net Profit, Net Loss and all other Company items shall be determined by taking into account their varying Percentage Interests using any permissible method under Code Section 706 and the Regulations, as determined by the Manager.
Changes in Percentage Interests. If the Members’ Percentage Interests change during any taxable year of the Company, the distributive share of items of Profit or Loss of each Member shall be determined in any manner (i) permitted by Section 706 of the Code, and (ii) unanimously agreed by the Members. If the Members cannot agree on a method, items of Profit and Loss shall be allocated in accordance with the interim closing-of-the-books method.
Changes in Percentage Interests. If either Member's Percentage Interest changes during any taxable year of the Company in accordance with Section 5.1(d) and Section 5.1(e) hereof, then for that taxable year the Company will effect a deemed closing of the books as of the date of such change, and the Profits and Losses of the Company (and all items of income, gain, loss, deduction or credit for federal income tax purposes) for the period in such year ending on and including such date (the "pre-change period") shall be allocated among the Members in proportion to their respective Percentage Interest (as may be required by Section 6.2 hereof) as of the first day of such pre-change period, and each Member's share of Profits and Losses (and all items of income, gain, loss, deduction or credit for federal income tax purposes) for the period following such date of change (the "post-change period") shall be allocated among the Members in proportion to their respective Percentage Interest (as may be required by Section 6.2 hereof) as of the first date of such post-change period.
Changes in Percentage Interests. If any Member's Percentage Interest changes during any taxable year of the Company in accordance with Section 5.1(e) hereof, then for that taxable year the Company will effect a deemed closing of the books as of the date of such change, and the Profits and Losses of the Company (and all items of income, gain, loss, deduction or credit for federal income tax purposes) for the period in such year ending on and including such date (the "pre-change period") shall be allocated among the Members in proportion to their Percentage Interests as of the first day of such pre-change period, and each Member's share of Profits and Losses (and all items of income, gain, loss, deduction or credit for federal income tax purposes) for the period following such date of change (the "post-change period") shall be allocated among the Members in proportion to their Percentage Interests as of the first date of such post-change period.
Changes in Percentage Interests. If a Member’s Percentage Interest changes at any time during a Fiscal Year, then, for purposes of making the allocations required under this Article 8, the Percentage Interests of the relevant Members will be adjusted in accordance with Code section 706 using any reasonable convention determined by the Managers.
Changes in Percentage Interests. A Shareholder’s Percentage Interest will be changed as follows:
(1) as provided in section 8.6; or
(2) upon an election by a Shareholder pursuant to sections 8.4 and 10.2 to contribute less to an adopted Program and Budget than the percentage reflected by its Percentage Interest; or
(3) in the event of default by a Shareholder in making its agreed-upon contribution to an adopted Program and Budget, followed by an election by the other Shareholder to invoke section 8.5(2); or
(4) upon the Transfer by a Shareholder of all or less than all of its Interest in accordance with section 16; or
(5) subject to section 8.1, upon the issuance of additional Shares in the Company with the approval of the Shareholders.
Changes in Percentage Interests. Notwithstanding the foregoing, to the extent that any Member’s Percentage Interest or the number of Common Units or Preferred Units held by such Member changes during a fiscal year for any reason, the allocation of taxable income or loss under this Article 9 shall be appropriately adjusted 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 reasonable methods as are approved by the Manager.
Changes in Percentage Interests. A. In the event of the transfer of all or any part of a Unit or the transfer of all or any part of a Preferred Unit at any time other than the end of a Partnership accounting year, the distributive share of the Net Income and Net Loss of the Partnership allocable to the Interest transferred shall be allocated between the transferor Limited Partner and the Transferee in the same ratio as the number of days in the Partnership accounting year before and after the Transfer. The provisions of the preceding sentence shall not be applicable to a Gain or Loss arising from a Capital Transaction or any 'allocable cash basis item' required to be allocated otherwise under Section 706(d) of the Code. Gain or Loss from a Capital Transaction or any allocable cash basis item shall be allocated on the basis of Unit or Preferred Units, as applicable, on the date the Gain is realized or the Loss incurred, as the case may be, and the allocable cash basis items shall be allocated as required under Section 706(d) of the Code and the Treasury regulations thereunder. ARTICLE X BOOKS AND RECORDS, ACCOUNTING, TAX ELECTIONS, ETC.
Changes in Percentage Interests. A Member’s Percentage Interest shall be adjusted as follows:
(a) As provided in Section 4.1(c)(i) or 4.2(b); or
(b) Upon an election by a Member pursuant to Section 5.3 to contribute less to an adopted Program and Budget than the percentage reflected by its Percentage Interest; or
(c) In the event of a default by a Member in making its agreed-upon contribution pursuant to Section 4.7 or to an adopted Program and Budget pursuant to Section 4.6 or for emergency expenditures pursuant to Section 4.6, followed by an election by the other Member to invoke Section 5.4; or
(d) Upon the Transfer by a Member of all or less than all of its Membership Interest pursuant to Article XIV; or
(e) Upon the issuance of additional Membership Interests in the Company with the approval of the Management Committee pursuant to Section 6.4(a)(xi).
