Common use of Distributions and Allocations in Respect to Transferred Interests Clause in Contracts

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 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(dS)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.