Character of Liquidating Distributions. Except as otherwise required by the I.R.C., amounts paid to Members pursuant to this Section 14.4 shall be treated as made in exchange for the interest of the Member in Company property pursuant to I.R.C. Section 736(b)(1), including the interest of such Member in Company goodwill.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Martin Midstream Partners Lp), Limited Liability Company Agreement (Martin Midstream Partners Lp), Limited Liability Company Agreement (Martin Midstream Partners Lp)
Character of Liquidating Distributions. Except as otherwise required by the I.R.C., amounts paid to Members pursuant to this Section 14.4 13.4 shall be treated as made in exchange for the interest of the Member in Company the Company’s property pursuant to I.R.C. Section 736(b)(1), including the interest of such Member in Company the Company’s goodwill.
Appears in 1 contract
Samples: Operating Agreement
