Other Capital Account and Income Tax Adjustments. Prior to making the allocations of Net Profit or Net Loss for the Fiscal Year in accordance with Section 7.6 hereof, the Board of Managers shall allocate income, gain, loss, deduction and credit (and items thereof) in accordance with the provisions of this Section 7.7 to the extent required by the Code and applicable Regulations.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Rio Vista Energy Partners Lp), Limited Liability Company Agreement (Rio Vista Energy Partners Lp), Limited Liability Company Agreement (Rio Vista Energy Partners Lp)
Other Capital Account and Income Tax Adjustments. Prior to making the ------------------------------------------------ allocations of Net Profit or Net Loss for the Fiscal Year in accordance with Section 7.6 hereof, the Board of Managers shall allocate income, gain, loss, ------------ deduction and credit (and items thereof) in accordance with the provisions of this Section 7.7 to the extent required by the Code and applicable Regulations.. -----------
Appears in 1 contract
Samples: Limited Liability Company Agreement (Penn Octane Corp)
