Division Among Members Clause Samples
The "Division Among Members" clause defines how rights, responsibilities, or assets are distributed among the members of an organization or group. Typically, this clause outlines the method for dividing profits, losses, or property, such as specifying equal shares or proportional allocations based on each member's contribution or ownership percentage. Its core function is to ensure transparency and fairness in the distribution process, thereby preventing disputes and misunderstandings among members regarding their entitlements.
Division Among Members. If there is a change in a Member's Interest in the Company during a Fiscal Year, any distributions thereafter shall be made so as to take into account the varying Interests of the Members during the period to which the distribution relates in any manner chosen by the Managers that is provided in Code Section 706(d) and the Regulations thereunder.
Division Among Members. If there is a change in the number of Shares held by a Member during a fiscal year of the Company, any allocations pursuant to this Article 10 shall be made so as to take into account the varying interests of the Members during the period to which the allocation relates, using the interim closing of the books method for determining such allocations, or upon the unanimous agreement of the Members (including any former Member affected by such allocations), using any method for determining such allocations that is provided in IRC 706(d) and the Treasury Regulations promulgated thereunder.
Division Among Members. All distributions pursuant to Section 3.1 hereof with respect to any fiscal Year or shorter period shall be made to the Members (a) in proportion to the allocations to them of Taxable Income, Tax-Exempt Income, or Tax Loss with respect to such Fiscal Year or shorter period or (b) pursuant to such other reasonable and equitable method selected by the Managers in their sole discretion.
Division Among Members. All distributions to the Members shall be divided among them in proportion to the Ownership Interests held by each. Liquidating Distributions"
Division Among Members. Whenever this Agreement requires that distributions of Cash Available For Distribution be distributed to any class of Members, such distributions shall be divided among the Members of such class in proportion to the ratio of the number of Units held by each Member of such class to the total number of Units held by all Members of such class as of the first day of the applicable Fiscal Year (or other period); provided, however, if the number of Units held by any Member of a class changes during any Fiscal Year (or other Period), Cash Available For Distribution for each month shall be distributed among the Members of such class in proportion to the number of Units held by each Member of such class as of the first day of each month during such Fiscal Year (or other period), and each such Member’s share of Cash Available For Distribution for such Fiscal year shall be equal to the sum of his share of the Cash Available For Distribution for each month during such Fiscal Year (or other period).
Division Among Members. Except as otherwise provided, all Profits, Losses and distributions to the Members shall be divided among them in proportion to their Percentage Interests.
Division Among Members. Except as specifically provided in Sections 8.1 and 15.3(b)(ii) hereof or as otherwise provided in this Agreement, all distributions to the Members pursuant to this Article VIII shall be divided among them in proportion to the Percentage Interests held by each.
Division Among Members. If there is a change in the number of Units held by a Member in the Company during a Fiscal Year, any distributions thereafter shall be made so as to take into account the varying number of Units during the period to which the distribution relates in any manner chosen by the Managers that is provided in the Code and Treasury Regulations.