Common use of Division Among Members Clause in Contracts

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.

Appears in 6 contracts

Samples: Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Wellsford Real Properties Inc), Operating Agreement (Equity Residential Properties Trust)

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Division Among Members. If there is a change in a Member's ’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.

Appears in 2 contracts

Samples: Operating Agreement (Strategic Realty Trust, Inc.), Operating Agreement (Strategic Realty Trust, Inc.)

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 Units of the Members during the period to which the distribution relates in any manner chosen by the Managers Managing Member that is provided in Code Section 706(d) and the Regulations thereunder.

Appears in 1 contract

Samples: Operating Agreement (Switzerland County Development Corp)

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Division Among Members. If there is a change in a Member's Interest ’s interest in the Company during a Fiscal Year, any distributions thereafter shall will be made so as to take into account the varying Interests interests of the Members during the period to which the distribution relates in any manner chosen by the Managers Manager that is provided in Code Section 706(d) of the Code and the Regulations thereunder.

Appears in 1 contract

Samples: Operating Agreement

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