Common use of Section 704(b) Allocations Clause in Contracts

Section 704(b) Allocations. The allocation provisions contained in this Article VII are intended to result in allocations that are consistent with Section 704(b) of the Code and the Treasury Regulations promulgated thereunder, and shall be interpreted and applied in a manner consistent therewith. The Members further agree to make such amendments or changes to this Agreement as are reasonably requested by any Member in good faith and consistent with the understanding of the parties, to effectuate such intent.

Section 704(b) Allocations. The allocation provisions contained in this Article VII are intended to result in allocations with respect to each Series that are consistent with Section 704(b) of the Code and the Treasury Regulations promulgated thereunder, thereunder and shall be interpreted and applied in a manner consistent therewith. The Members further agree to make such amendments or changes to this Agreement as are reasonably requested by any Member in good faith and consistent with the understanding of the parties, to effectuate such intent.