Common use of Other Allocations Rules Clause in Contracts

Other Allocations Rules. (a) For purposes of determining the Profits, Losses or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Managing Member using any permissible method under Code Section 706 and the Regulations thereunder. (b) Except as otherwise provided in this Agreement, all items of Company income, gain, loss, and deduction for a Fiscal Year shall, for federal and state income tax purposes, be divided among the Members in the same proportions as they share Profits or Losses, as the case may be, for such Fiscal Year. The Members are aware of the income tax consequences of the allocations made by this Article 6 and hereby agree to be bound by the provisions of this Article 6 in reporting their shares of Company income and loss for income tax purposes. (c) Solely for purposes of determining the Member’s proportionate share of the “excess nonrecourse liabilities” of the Company within the meaning of Regulations Section 1.752-3(a)(3), the Member’s interests in Company profits are in accordance with their percentage Interests. (d) To the extent permitted by Section 1.704-2(h)(3) of the Regulations, the Members shall treat distributions of Net Cash as not having been made from the proceeds of a Nonrecourse Liability or a Partner Nonrecourse Debt.

Other Allocations Rules. (a) For purposes of determining the Profits, Losses or any other items allocable to any period, Profits, Losses, Losses and any such other items shall be determined on a daily, monthly, monthly or other basis, as determined by the Managing Member Board using any permissible method under Code Section 706 and the Regulations thereunder. (b) Except as otherwise provided in this AgreementSection 4.6 with respect to allocations pursuant to Code Section 704(c), for federal income tax purposes, all items of Company income, gain, loss, loss or deduction shall be made in a manner that is consistent with the allocation of Profits and deduction for a Fiscal Year shall, for federal and state income tax purposes, be divided among the Members in the same proportions as they share Profits or Losses, as the case may be, for such Fiscal YearLosses pursuant to this Article 4. The Members are aware of the income tax consequences of the allocations made by of this Article 6 4 and hereby agree to be bound by the provisions of this Article 6 4 in reporting their allocable shares of Company income and loss for income tax purposes. (c) Solely for purposes of determining the a Member’s 's proportionate share of the “"excess nonrecourse liabilities” " of the Company within the meaning of Regulations Section 1.752-3(a)(3), the Member’s Members' interests in Company profits are in accordance with shall be equal to their percentage respective Membership Interests. (d) To the extent permitted by Section 1.704-2(h)(3) of the Regulations, the Members shall treat distributions of Net Cash as not having been made from the proceeds of a Nonrecourse Liability or a Partner Nonrecourse Debt.

Other Allocations Rules. (a) For purposes of determining the Profits, Losses or any other items allocable to any period, Profits, Losses, Losses and any such other items shall be determined on a daily, monthly, monthly or other basis, as determined by the Managing Member Board using any permissible method under Code Section 706 and the Regulations thereunder. (b) Except as otherwise provided in this AgreementSection 4.6 with respect to allocations pursuant to Code Section 704(c), for federal income tax purposes, all items of Company income, gain, loss, loss or deduction shall be made in a manner that is consistent with the allocation of Profits and deduction for a Fiscal Year shall, for federal and state income tax purposes, be divided among the Members in the same proportions as they share Profits or Losses, as the case may be, for such Fiscal YearLosses pursuant to this Article 4. The Members are aware of the income tax consequences of the allocations made by of this Article 6 4 and hereby agree to be bound by the provisions of this Article 6 4 in reporting their allocable shares of Company income and loss for income tax purposes. (c) Solely for purposes of determining the a Member’s 's proportionate share of the “"excess nonrecourse liabilities” " of the Company within the meaning of Regulations Section 1.752-1.752- 3(a)(3), the Member’s Members' interests in Company profits are in accordance with shall be equal to their percentage respective Membership Interests. (d) To the extent permitted by Section 1.704-2(h)(3) of the Regulations, the Members shall treat distributions of Net Cash as not having been made from the proceeds of a Nonrecourse Liability or a Partner Nonrecourse Debt.