General Allocation of Profits and Losses. After giving effect to the allocations set forth in Sections 7.5 and 7.6, all Profits and Losses (including all items of income and expense entering into the determination of such Profits and Losses), as finally determined for federal income tax purposes for each fiscal year of the Company, shall be allocated among the Members as follows:
Appears in 3 contracts
Samples: Operating Agreement, Operating Agreement (Gallagher Arthur J & Co), Operating Agreement (Gallagher Arthur J & Co)
General Allocation of Profits and Losses. After giving effect to the allocations set forth Except as otherwise provided in Sections 7.5 7.4 and 7.67.5, all Profits and Losses (including all items of income and expense entering into the determination of such Profits and Losses), as finally determined for federal income tax purposes for each fiscal year of the Company, shall be allocated among the Members as follows:in accordance with their respective Participating Percentages.
Appears in 1 contract
General Allocation of Profits and Losses. After giving effect to the allocations set forth Except as otherwise provided in Sections 7.5 and 7.6this Article 7, all Profits and Losses (including all items of income and expense entering into the determination of such Profits and or Losses), as finally determined for federal income tax purposes for each fiscal year of the Company, shall be allocated among the Members as follows:
Appears in 1 contract
