Non-Cash Distribution Adjustments. If noncash assets are distributed to a Member, the Manager shall adjust the Capital Accounts of the Members to reflect the hypothetical book gain or loss that would have been realized by the Company if the distributed assets had been sold at Fair Market Value in a cash sale.
Appears in 3 contracts
Samples: Operating Agreement (Efund City Metro Income Fund LLC), Operating Agreement (Efund City Metro Income Fund LLC), Operating Agreement (Efund City Metro Income Fund LLC)
Non-Cash Distribution Adjustments. If noncash assets are distributed to a Member, the Manager shall adjust the Capital Accounts of the Members to reflect the hypothetical book gain or loss that would have been realized by the Company LLC if the distributed assets had been sold at Fair Market Value in a cash sale.
Appears in 1 contract
Samples: Operating Agreement
