Common use of Elections and Limitations Clause in Contracts

Elections and Limitations. The allocations required by this Section 5.8 are solely for purposes of federal, state and local income taxes and shall not affect the allocation of Net Profits or Net Losses as between Members or any Member’s Capital Account. All tax allocations required by this Section 5.8 shall be made using the so called “traditional method” described in Regulation 1.704-3(b); provided, however, that the Board of Managers, with the advice of the Company’s auditors or tax counsel, may elect to use the so-called “traditional method with curative allocations” described in Regulation 1.704-3(c).

Elections and Limitations. The allocations required by this Section 5.8 6.7 are solely for purposes of federal, state and local income taxes and shall not affect either the allocation of Net Profits or Net Losses as between Members or any Member’s Capital Account. All tax allocations required by this Section 5.8 6.7 shall be made using the so called “traditional method” described in Regulation 1.704-3(b); provided, however, that the Board of ManagersManaging Member, with upon the advice of the Company’s auditors or tax counsel, may elect to use the so-called “traditional method with curative allocations” described in Regulation 1.704-3(c).

Elections and Limitations. The allocations required by this Section 5.8 are solely for purposes of federal, state and local income taxes and shall not affect the allocation of Net Profits or Net Losses as between Members or any Member’s Capital Account. All tax allocations required by this Section 5.8 shall be made using the so called “traditional method” described in Regulation 1.704-3(b); provided, however, that the Board of ManagersManager, with the advice of the Company’s auditors or tax counsel, may elect to use the so-called “traditional method with curative allocations” described in Regulation 1.704-3(c).

Elections and Limitations. The allocations required by this Section 5.8 6.8 are solely for purposes of federal, state and local income taxes and shall not affect either the allocation of Net Profits or Net Losses as between Members or any Member’s Capital Account. All tax allocations required by this Section 5.8 6.8 shall be made using the so called “traditional method” described in Regulation 1.704-3(b); provided, however, that the Board of ManagersManaging Member, with upon the advice of the Company’s auditors or tax counsel, may elect to use the so-called “traditional method with curative allocations” described in Regulation 1.704-3(c).