Common use of Purpose and Application Clause in Contracts

Purpose and Application. The purpose and the intent of the special allocations provided for in this Section 9.3 are to comply with the provisions of Regulation Sections 1.704-1(b) and 1.704-2, and such special allocations are to be made so as to accomplish that result. However, to the extent possible, the Managers, in allocating items of income, gain, loss, or deduction among the Members, shall take into account the special allocations in such a manner that the net amount of allocations to each Member shall be the same as such Member's distributive share of Profits and Losses would have been had the events requiring the special allocations not taken place. The Managers shall apply the provisions of this Section 9.3 in whatever order the Managers reasonably believe will minimize any economic distortion that otherwise might result from the application of the special allocations.

Purpose and Application. The purpose and the intent of the special allocations provided for in this Section 9.3 5.04 are to comply with the provisions of Regulation Sections 1.704-1(b) and 1.704-2, and such special allocations are to be made so as to accomplish that result. However, to the extent possible, the Managers, in allocating items of income, gain, loss, or deduction among the Members, shall take into account the special allocations in such a manner that the net amount of allocations to each Member shall be the same as such Member's ’s distributive share of Profits and Losses would have been had the events requiring the special allocations not taken place. The Managers shall apply the provisions of this Section 9.3 5.04 in whatever order the Managers reasonably believe will minimize any economic distortion that otherwise might result from the application of the special allocations.

Purpose and Application. The purpose and the intent of the special allocations provided for in this Section 9.3 6.3 are to comply with the provisions of Regulation Sections Regulations Section 1.704-1(b) and Section 1.704-2, and such special allocations are to be made so as to accomplish that result. However, to the extent possible, the Managers, Board of Managers in allocating items of income, gain, loss, or deduction among the Members, Members shall take into account the special allocations in such a manner that the net amount of allocations to each Member shall be the same as such Member's distributive share of Profits and Losses would have been had the events requiring the special allocations not taken place. The Board of Managers shall apply the provisions of this Section 9.3 6.3 in whatever order the Managers they reasonably believe will minimize any economic distortion that otherwise might result from the application of the special allocations.

Purpose and Application. The purpose and the intent of the special allocations provided for in this Section 9.3 Sections 6.2.1, 6.2.2 and 6.2.3 are to comply with the provisions of Regulation Regulations Sections 1.704-1(bl(b) and 1.704-2, and such special allocations are to be made so as to accomplish that result. However, to the extent possible, the Managers, in allocating items of income, gain, loss, or deduction among the Members, shall take into account the special allocations in such a manner that the net amount of allocations to each Member shall be the same as such Member's distributive share of Profits and Losses would have been had the events requiring the special allocations not taken place. The Managers shall apply the provisions of this Section 9.3 Sections 6.2.1, 6.2.2, and 6.2.3 in whatever order the Managers reasonably believe will minimize any economic distortion that otherwise might result from the application effect of the special allocations.