Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 17 contracts
Samples: Operating Agreement (New Holland Credit Company, LLC), Operating Agreement (National Credit & Guaranty CORP), Operating Agreement (Hughes MRO, Ltd.)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, Company is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable by the Company to any Member pursuant to Section 5.3 hereofMember, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s its capacity as a Member partner (Member) within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 4 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Kansas City Southern), Limited Liability Company Agreement (Norfolk Southern Corp)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant for services provided to Section 5.3 hereofthe Company, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account capital account shall be adjusted to reflect the payment of that compensation.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (Terra Investment Fund LLC)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, Company is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) of the Code or is not paid to the Member other than in the Person’s 's capacity as a Member within the meaning of Code Section 707(a)) of the Code, the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s 's Capital Account shall be adjusted to reflect treat the payment of that compensationcompensation as a distribution.
Appears in 2 contracts
Samples: Operating Agreement, Limited Liability Company Agreement (Voicestream Wireless Corp)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, Company is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a an Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 2 contracts
Samples: Operating Agreement (Bluerock Enhanced Multifamily Trust, Inc.), Operating Agreement (Bluerock Enhanced Multifamily Trust, Inc.)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 5.7 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 2 contracts
Samples: Operating Agreement (National Credit & Guaranty CORP), Operating Agreement (National Credit & Guaranty CORP)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s 's capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s 's Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Samples: Operating Agreement (Kti Inc)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, Company is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) of the Code or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a)) of the Code, the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect treat the payment of that compensationcompensation as a distribution.
Appears in 1 contract
Samples: Limited Liability Company Agreement
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 5.03 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Samples: Capital Account Agreement
Guaranteed Payments. To the extent any compensation ------------------- paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s 's capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s 's Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Samples: Receivables Purchase Agreement (Bethlehem Steel Corp /De/)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, Company is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s 's capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an a amount equal to the amount of that compensation, and the Member’s 's Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Guaranteed Payments. To the extent any compensation paid to any the Member by the Company, including any fees payable to any the Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the PersonMember’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Samples: Operating Agreement (National Credit & Guaranty CORP)
Guaranteed Payments. To the extent any compensation paid to any the Member by the Company, including any fees payable to any the Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s Member's capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s 's Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Guaranteed Payments. To the extent any compensation paid to any Member or the Affiliate of any Member, by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, Company is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) ), or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensationcompensation or payment, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Listerhill Total Maintenance Center LLC)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereofthis Agreement, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Kensington Capital Acquisition Corp.)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, Company is determined by the Internal Revenue Service IRS not to be a guaranteed payment under Code Section 707(cSection707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Commerce Street Pantheon Mortgage Asset Securitizations LLC)
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, Company is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) of the Internal Revenue Code or is not paid to the Member other than in the Person’s 's capacity as a Member within the meaning of Code Section 707(a)) of the Internal Revenue Code, the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s 's Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Guaranteed Payments. To the extent any compensation paid to any a Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereofMember, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) of the Code or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a)) of the Code, the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Appears in 1 contract
Samples: Operating Agreement (Roots Real Estate Investment Community I, LLC)