General Allocation Rule. Except as otherwise provided in (or until changed pursuant to) this Agreement, the Profits or Losses of the Company, including items of income, gain, loss and deduction for each Fiscal Year, will be allocated to the Members in proportion to their respective Ownership Interests.
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Samples: Operating Agreement (Tele Communications Inc /Co/), Operating Agreement (Microsoft Corp), Operating Agreement (Microsoft Corp)
General Allocation Rule. Except as otherwise provided in (or until changed pursuant to) this Agreement, the Profits or Losses of the Company, including items of income, gain, loss and deduction for each Fiscal Year, will be allocated to the Members in proportion to their respective Ownership Interests as defined herein. For any Fiscal Year in which there is a change in Ownership Interests, allocations will be determined in accordance with Section 706 of the Code and the regulations thereunder to take into account the varying interests of the Members in the Company during such Fiscal Year, in the manner determined by the Managers.
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