Profits, Losses and Distributive Shares of Tax Items. The Company's net income or net loss, as the case may be, for each fiscal year of the Company or part thereof, as determined in accordance with such method of accounting as may be adopted for the Company pursuant to Article VI hereof, shall be allocated to the Members for both financial accounting and income tax purposes as set forth in this Article IV, except as otherwise provided for herein or unless decided otherwise by the Voting Member Majority.
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Samples: Limited Liability Company Agreement (Inergy L P), Limited Liability Company Agreement (Inergy L P), Limited Liability Company Agreement (Inergy L P)
Profits, Losses and Distributive Shares of Tax Items. The Company's net income or net loss, as the case may be, for each fiscal taxable year of the Company or part thereofCompany, as determined in accordance with such method of accounting as may be adopted for the Company pursuant to Article VI VIII hereof, shall be allocated to the Members for both financial accounting and income tax purposes as set forth in this Article IV, except as otherwise provided for herein or unless decided otherwise by the Voting Member Majorityall Members agree otherwise.
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Samples: Operating Agreement (First American Capital Corp /Ks), Operating Agreement (First American Capital Corp /Ks)
Profits, Losses and Distributive Shares of Tax Items. The Company's net income ’s Income or net lossLoss, as the case may be, for each fiscal year Fiscal Year of the Company or part thereofCompany, as determined in accordance with such method of accounting as may be adopted for the Company pursuant to Article VI hereofVII, shall be allocated to the Members for both financial accounting and income tax purposes as set forth in this Article IV, except as otherwise provided for herein or unless decided otherwise by the Voting Member MajorityMembers unanimously agree otherwise.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (CHS Inc), Limited Liability Company Agreement (CHS Inc)
Profits, Losses and Distributive Shares of Tax Items. The Company's ’s net income or net loss, as the case may be, for each fiscal taxable year of the Company or part thereofCompany, as determined in accordance with such method of accounting as may be adopted for the Company pursuant to Article VI in accordance with ARTICLE 8 hereof, shall will be allocated to the Members for both financial accounting and income tax purposes as set forth in this Article IVARTICLE 4, except as otherwise provided for herein or unless decided otherwise by the Voting Member Majorityall Members agree otherwise.
Appears in 1 contract
Samples: Limited Liability Company Agreement (IMH Financial Corp)
Profits, Losses and Distributive Shares of Tax Items. The Company's net income or net loss, as the case may be, for each fiscal year of the Company or part thereof, as determined in accordance with such method of accounting as may be adopted for the Company pursuant to Article VI hereofVI, shall be allocated to the Members for both financial accounting and income tax purposes as set forth in this Article IV, except as otherwise provided for herein or unless decided otherwise by the Voting Member MajorityMembers agree otherwise.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Cenex Harvest States Cooperatives)
Profits, Losses and Distributive Shares of Tax Items. The Company's ’s net income or net loss, as the case may be, for each fiscal taxable year of the Company or part thereofCompany, as determined in accordance with such method of accounting as may be adopted for the Company pursuant to in accordance with Article VI 8 hereof, shall will be allocated to the Members for both financial accounting and income tax purposes as set forth in this Article IV4, except as otherwise provided for herein or unless decided otherwise by the Voting Member Majorityall Members agree otherwise.
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