Income Tax Allocations. (a) Except as otherwise provided in Section 7.5(c), for purposes of Sections 702 and 704 of the Code, or the corresponding sections of any future Federal internal revenue law, or any similar tax law of any state or other jurisdiction, the Company’s profits, gains and losses for Federal income tax purposes, and each item of income, gain, loss or deduction entering into the computation thereof, shall be allocated among the Members in the same proportions as the corresponding “book” items are allocated pursuant to this Section.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (CNL Healthcare Properties, Inc.), Limited Liability Company Agreement (CNL Healthcare Properties, Inc.), Limited Liability Company Agreement (CNL Healthcare Properties, Inc.)
Income Tax Allocations. (a) Except as otherwise provided in Section 7.5(c), for For purposes of Sections 702 and 704 of the Code, or the corresponding sections of any future Federal internal revenue law, or any similar tax law of any state or other jurisdiction, the CompanyPartnership’s profits, gains and losses for Federal income tax purposes, and each item of income, gain, loss or deduction entering into the computation thereof, shall be allocated among the Members Partners, to the extent possible, in the same proportions as the corresponding “book” items are allocated pursuant to this SectionSection 5.3.
Appears in 2 contracts
Samples: Limited Partnership Agreement (CNL Income Mesa Del Sol, LLC), Limited Liability Limited Partnership Agreement (CNL Income Properties Inc)
Income Tax Allocations. (a) Except as otherwise provided in Section 7.5(c), for For purposes of Sections 702 and 704 of the Code, or the corresponding sections of any future Federal internal revenue federal tax law, or any similar tax law of any state or other jurisdiction, the Company’s profits, gains and losses for Federal federal income tax purposes, and each item of income, gain, loss or deduction entering into the computation thereof, shall be allocated among the Members in the same proportions as the corresponding “book” items are allocated pursuant to this Section.Section 1.1, except as otherwise provided in Section 1.1(e) below
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement
Income Tax Allocations. (a) Except as otherwise provided in Section 7.5(c), for For purposes of Sections 702 and 704 of the Code, or the corresponding sections of any future Federal internal revenue law, or any similar tax law of any state or other jurisdiction, the Company’s 's profits, gains and losses for Federal income tax purposes, and each item of income, gain, loss or deduction entering into the computation thereof, shall be allocated among the Members Members, to the extent possible, in the same proportions as the corresponding “"book” " items are allocated pursuant to this SectionSection 5.3 and Section 5.4, except as otherwise provided in Section 5.10.
Appears in 1 contract
Samples: Maui Land & Pineapple Co Inc
Income Tax Allocations. (a) Except as otherwise provided in this Section 7.5(c)5.6, for purposes of Sections 702 and 704 of the Code, or the corresponding sections of any future Federal internal revenue law, or any similar tax law of any state or other jurisdiction, the Company’s profits, gains and losses for Federal income tax purposes, and each item of income, gain, loss or deduction entering into the computation thereof, ; shall be allocated among the Members in the same proportions as the corresponding “book” items are allocated pursuant to this Section.
Appears in 1 contract
Samples: Limited Liability Company Agreement (COHEN & Co INC.)
Income Tax Allocations. (a) Except as otherwise provided in Section 7.5(c), for For purposes of Sections 702 and 704 of the Code, or the corresponding sections of any future Federal internal revenue law, or any similar tax law of any state or other jurisdiction, the Company’s profits, gains and losses for Federal income tax purposes, and each item of income, gain, loss or deduction entering into the computation thereof, shall be allocated among the Members Partners, to the extent possible, in the same proportions as the corresponding “book” items are allocated pursuant to this SectionSection 5.3.
Appears in 1 contract
Samples: Partnership Interest Purchase Agreement (CNL Income Properties Inc)
Income Tax Allocations. (a) Except as otherwise provided in Section 7.5(c), for For purposes of Sections 702 and 704 of the Code, or the corresponding sections of any future Federal internal revenue federal tax law, or any similar tax law of any state or other jurisdiction, the Company’s profits, gains and losses for Federal federal income tax purposes, and each item of income, gain, loss or deduction entering into the computation thereof, shall be allocated among the Members in the same proportions as the corresponding “book” items are allocated pursuant to this SectionSection 1.1, except as otherwise provided in Section 1.1(e) below.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Pico Holdings Inc /New)
Income Tax Allocations. (a) Except as otherwise provided in Section 7.5(c), for purposes of Sections 702 and 704 of the Code, or the corresponding sections of any future Federal internal revenue law, or any similar tax law of any state or other jurisdiction, the Company’s profits, gains and losses for Federal income tax purposes, and each item of income, gain, loss or deduction entering into the computation thereof, shall will be allocated among the Members in the same proportions as the corresponding “book” items are allocated pursuant to this Section.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Summit Healthcare REIT, Inc)