Profits Losses and Distributions. PROFITS/LOSSES. For financial accounting and tax purposes the Company's net profits or net losses will be determined annually. Profits and losses will be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Exhibit 2 as amended and in accordance with Treasury Regulation 1.704-1.
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Samples: Operating Agreement, Operating Agreement
Profits Losses and Distributions. 3.1 PROFITS/LOSSES. For financial accounting and tax purposes the Company's net profits or net losses will shall be determined annually. Profits on an annual basis and losses will shall be allocated to the Members in proportion to each Member's relative capital interest equity stake in the Company as set forth in Exhibit 2 3 as amended and from time to time in accordance with Treasury Regulation 1.704-1.
Appears in 1 contract
Samples: Operating Agreement
Profits Losses and Distributions. 3.1 PROFITS/LOSSES. For financial accounting and tax purposes the Company's net profits or net losses will shall be determined annually. Profits on an annual basis and losses will shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Exhibit 2 as amended and from time to time in accordance with Treasury Regulation 1.704-1.
Appears in 1 contract
Samples: Operating Agreement
Profits Losses and Distributions. 3.1 PROFITS/LOSSES. For financial accounting and tax purposes the Company's ’s net profits or net losses will shall be determined annually. Profits on an annual basis and losses will shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Exhibit 2 as amended and from time to time in accordance with Treasury Regulation 1.704-1.
Appears in 1 contract
