Effect on Allocations of New Members or Assignees. In the event that new Members are admitted to the Company or Persons become Assignees on other than the first day of any Fiscal Year, Profits and Losses for such Fiscal Year shall be allocated among the Members and Assignees in accordance with Code Section 706, using any convention permitted by Law and selected by the Manager with the consent of all Members.
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Samples: Participation and Operating Agreement (Ruby Tuesday of Bryant, Inc.), Participation and Operating Agreement (Ruby Tuesday of Bryant, Inc.), Participation and Operating Agreement (Ruby Tuesday of Bryant, Inc.)
Effect on Allocations of New Members or Assignees. In the event that new Members are admitted to the Company or Persons persons become Assignees assignees on other than the first day of any Fiscal Year, Profits Net Income and Losses Net Loss for such Fiscal Year shall be allocated among the Members and Assignees assignees in accordance with Code Section 706, using any convention permitted by Law law and selected by the Manager with the consent of all Members.
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Effect on Allocations of New Members or Assignees. In the event that new Members are admitted to the Company or Persons persons become Assignees on other than the first day of any Fiscal Year, Profits Net Income and Losses Net Loss for such Fiscal Year shall be allocated among the Members and Assignees in accordance with Code Section section 706, using any convention permitted by Law law and selected by the Manager with the consent of all MembersManaging Member.
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