Effective Date of Assignment. The Company shall, from the effective date of an assignment, thereafter pay all further distributions with respect to the Membership Interest (or part thereof) so assigned, to the assignee of such interest, or part thereof. As between any Member and its assignee, the Net Profits and Net Losses for the Fiscal Year of the Company in which such assignment occurs shall be apportioned for federal income tax purposes in accordance with any convention permitted under Section 706(d) of the Code and selected by the Managing Member.
Appears in 4 contracts
Samples: Limited Liability Company Agreement (InSight Imaging Services Corp.), Limited Liability Company Agreement (InSight Imaging Services Corp.), Limited Liability Company Operating Agreement (InSight Imaging Services Corp.)
