General Accounting Matters. (a) Net Income (Loss) shall be determined by the Managing Member at the end of each accounting period and shall be allocated as described in Section 5.4. “Net Income (Loss)” means, with respect to any accounting period, the sum of: (i) Fund Net Income (Loss) for such period, (ii) Other Net Income (Loss) for such period, and (iii) the Incentive Allocation for such period. The Managing Member may from time to time (i) establish additional separate categories of Net Income (Loss) with respect to the Company as it may determine (including, without limitation, Net Income (Loss) relating to illiquid investments by the Funds) and (ii) calculate and allocate Net Income (Loss) for each such category on a separate basis.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.)
General Accounting Matters. (a) Net Income (Loss) shall be determined by the Managing Member at the end of each accounting period and shall be allocated as described in Section 5.4. “Net Income (Loss)” means, with respect to any accounting period, the sum of: (i) Fund Net Income (Loss) for such period, (ii) Other Net Income (Loss) for such period, and (iii) the Incentive Allocation for such period. The Managing Member may from time to time (i) establish additional separate categories of Net Income (Loss) with respect to the Company as it may determine (including, without limitation, Net Income (Loss) relating to illiquid investments Special Investments by the Funds) and (ii) calculate and allocate Net Income (Loss) for each such category on a separate basis.
Appears in 3 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Blackstone Group L.P.), Limited Liability Company Agreement (Blackstone Group L.P.)
