Common use of PROFITS/LOSSES Clause in Contracts

PROFITS/LOSSES. For accounting and tax purposes, the Company's net profits or net losses will be determined annually. Pursuant to Section 00-00-000 of the Supplement, and as provided in Section 6.03, below, profits and losses will be allocated to the Members in proportion to each Member's economic interest in the Company as set forth in Exhibit 1 and in accordance with Treasury Regulation 1.704-1.

PROFITS/LOSSES. For accounting and tax purposes, the Company's net profits or net losses of the Company will be determined annually. Pursuant to Section 0010-00-000 of the Supplement, and as provided in Section 6.03, (8)12.3 below, profits and losses will be allocated to the Members in proportion to each Member's economic interest aggregate Distribution Points in the Company as set forth in Exhibit 1 and in accordance with Treasury Regulation 1.704-1.. Table of Contents