Pre-Distribution Adjustment. In the event property of the Company is distributed to one or more Stockholders in kind, there shall be allocated to the Stockholders the amount of income, gain or loss which the Company would have recognized had such property been sold for its fair market value on the date of the distribution, to the extent such income, gain or loss has not previously been allocated among the Stockholders. The allocation described in this section 7.7 is referred to as the “Pre-Distribution Adjustment.”
Appears in 7 contracts
Samples: Limited Liability Company Agreement (American Homeowner Preservation 2015A LLC), Limited Liability Company Agreement (Af 2019 NPL a LLC), Limited Liability Company Agreement (Af 2018 NPL a LLC)
Pre-Distribution Adjustment. In the event property of the Company is distributed to one or more Stockholders the Members in kind, there shall be allocated to the Stockholders Members the amount of income, gain or loss which the Company would have recognized had such property been sold for its fair market value on the date of the distribution, to the extent such income, gain or loss has not previously been allocated among the StockholdersMembers. The allocation described in this section 7.7 is referred to as the “Pre-Distribution Adjustment.”
Appears in 5 contracts
Samples: Limited Liability Company Agreement, Operating Agreement, Limited Liability Company Agreement (Magfast LLC)
Pre-Distribution Adjustment. In the event property of the Company is distributed to one or more Stockholders of the Members in kind, there shall be allocated to the Stockholders Members the amount of income, gain or loss which the Company would have recognized had such property been sold for its fair market value on the date of the distribution, to the extent such income, gain or loss has not previously been allocated among the StockholdersMembers. The allocation described in this section 7.7 is referred to as the “Pre-Distribution Adjustment.”
Appears in 1 contract
Samples: Investment Agreement
Pre-Distribution Adjustment. In the event property of the Company is distributed to one or more Stockholders the Members in kind, there shall be allocated to the Stockholders Members the amount of income, gain or loss which the Company would have recognized had such property been sold for its fair market value on the date of the distribution, to the extent such income, gain or loss has not previously been allocated among the StockholdersMembers. The allocation described in this section 7.7 is referred to as the “Pre-Distribution Adjustment.”” P a g e | 7
Appears in 1 contract
Samples: Limited Liability Company Agreement (Mysk Orlando Growth Fund LLC)
