Determination of Profits and Losses. Profits and Losses of the Company shall be determined for each Fiscal Year of the Company in accordance with the method of income tax accounting adopted by the Board of Directors for the Company consistently applied and shall be allocated among the Members in the manner provided in this Article IV.
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
Determination of Profits and Losses. Profits and Losses of the Company shall be determined for each Fiscal Year of the Company in accordance with the method of income tax accounting adopted by the Board of Directors Manager for the Company consistently applied and shall be allocated among the Members in the manner provided in this Article IV.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Procaccianti Hotel Reit, Inc.)
