Distributions and Allocations in Respect to Transferred Interests. If any Member’s interest is sold, assigned or transferred, or any Person is otherwise admitted as a Member during any Fiscal Year in compliance with the provisions of this Agreement, net profits, net losses, each item thereof, and all other items attributable to such interest for such Fiscal Year shall be allocated among the Members by taking into account their varying interests during such Fiscal Year in accordance with Code §706(d). Unless otherwise required by the applicable treasury regulations, such sale, assignment, transfer or admission shall be deemed to have occurred at the end of the calendar month during which such event shall have actually occurred, and such allocations shall be determined and made pursuant to a pro forma closing of the books of the Company as of the end of such month. With respect to a transferred Member’s interest or any interest therein, all distributions on or before the deemed date of such transfer shall be made to the transferor and all distributions thereafter shall be made to the transferee. The Company shall not incur any liability for making allocations and distributions in accordance with this provision.
Distributions and Allocations in Respect to Transferred Interests. If any Interest is Transferred during any accounting period in compliance with Article 8 (Restrictions on Transfer), then Profits, Losses, each item of Profit and Loss and all other items attributable to the Transferred Interest for such period shall be divided and allocated between the transferor and the transferee by taking into account their varying Interests during the period in accordance with Code Section 706(d), using any conventions permitted by law and selected by the Managers. All distributions on or before the date of such Transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee.
Distributions and Allocations in Respect to Transferred Interests. If all or part of any Membership Interest is sold, assigned or transferred during any accounting period, profits, losses and all other items attributable to such Membership Interest for such period shall be divided and allocated between the transferor and the transferee by taking into account their varying interests during the period in accordance with Code (S)706(d), using any conventions permitted by law and selected by the Company. All distributions on or before the date of such transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee.
Distributions and Allocations in Respect to Transferred Interests. If any Partnership Interest is Transferred (which, for purposes of this Section 9.4, shall not include a pledge, encumbrance or grant of a security interest) during any Fiscal Year in compliance with the provisions of this Article IX, all items of Profit and Loss attributable to the Transferred Partnership Interest for such Fiscal Year shall be divided and allocated between the transferor and the transferee by taking into account their varying Partnership Interests during such Fiscal Year in accordance with Code Section 706(d), using any conventions permitted by law and selected by the Executive Committee. All distributions on or before the date of such Transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee. Any Partnership Interest that is transferred to a transferee pursuant to this Agreement whereby the transferee is admitted as a substitute partner to the Partnership shall be subject to the same terms and provisions under this Agreement in the hands of the transferee as in the hands of the transferor.
Distributions and Allocations in Respect to Transferred Interests. If ----------------------------------------------------------------- any Membership Interest is sold, assigned, or transferred during any accounting period, Company Profit and Company Loss, and each item thereof, and all other items attributable to the transferred interest for such period shall be divided and allocated between the transferor and transferee by taking into account their varying interests during the period in accordance with Code Section 706(d), using any conventions permitted by law and selected by the Board of Managers. All distributions on or before the date of such transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee. Solely for purposes of making such allocations and distributions, the Company shall recognize such transfer not later than the end of the calendar month during which it is given notice of such transfer, provided that if the Company does not receive a notice stating the date such Membership Interest was transferred and such other information as the Board of Managers may reasonably require within thirty (30) days after the end of the accounting period during which the transfer occurs, then all of such items shall be allocated, and all distributions shall be made, to the Person who, according to the books and records of the Company, on the last day of the accounting period during which the transfer occurs, was the owner of the Membership Interest. Neither the Company nor any Member shall incur any liability for making allocations and distributions in accordance with the provisions of this Section 12.6 whether or not any Member or the Company has knowledge of any transfer of ownership of any interest.
Distributions and Allocations in Respect to Transferred Interests. (a) If any Partnership Interest is sold, assigned, or transferred during any accounting period in compliance with the provisions of this Article VIII, Profits, Losses, each item thereof, and all other items attributable to the transferred Interest for such period shall be divided and allocated between the transferor and the transferee by taking into account their varying interests during the period in accordance with Section 706(d) of the Code, using any conventions permitted by law and selected by the General Partner. All distributions on or before the date of such transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee.
(b) Solely for purposes of making such allocations and distributions section 8.9(a) hereof, the Partnership shall recognize such transfer not later than the end of the calendar month during which it is given Notice of such transfer, provided that if the Partnership does not receive a Notice stating the date such Interest was transferred and such other information as the General Partner may reasonably require within thirty days after the end of the accounting period during which the transfer occurs, then all of such items shall be allocated and all distributions shall be made, to the Person who, according to the books and records of the Partnership, on the last day of the accounting period during which the transfer occurs, was the owner of the Interest. Neither the Partnership nor any General Partner shall incur any liability far making allocations and distributions in accordance with the provisions of Section 8.9 hereof, whether or not any General Partner or the Partnership has knowledge of any transfer of ownership of any Interest.
Distributions and Allocations in Respect to Transferred Interests. If any Membership Units are sold, assigned, or transferred during any accounting period in compliance with the provisions of this Section 9, Net Income, Net Loss, each item
Distributions and Allocations in Respect to Transferred Interests. If any Interest in the Company is Transferred during any accounting period in compliance with the provisions of this Section 8, all Profits, Losses, each item thereof, and all other items attributable to the transferred interest for such period shall be divided and allocated between the transferor and the transferee by taking into account their varying interests during the period in accordance with Code Section 706(d), using any convention permitted by law and selected by the Company. All distributions on or before the date of such Transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee.
Distributions and Allocations in Respect to Transferred Interests. If any Membership Units are sold, assigned, or transferred during any accounting period in compliance with the provisions of this Section 9, Net Income, Net Loss, each item thereof, and all other items attributable to the transferred interest for such period shall be divided and allocated between the transferor and the transferee by taking into account their varying interests during the period in accordance with Code Section 706(d), using any conventions permitted by law and selected by the Management Committee. All distributions on or before the date of such transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee.
Distributions and Allocations in Respect to Transferred Interests. If any interest in the Company is sold, assigned or transferred during any Fiscal year in compliance with the provisions of this Operating Agreement, Profits, Losses, each item thereof and all other items attributable to such interest for such Fiscal year shall be divided and allocated between the transferor and the transferee by taking into account their varying interests during such Fiscal year in accordance with Code section 706(d), using any conventions permitted by law and selected by the Members.
