Sharing Between Transferor and Transferee. If a Membership Interest is transferred, the income, gains, losses and deductions allocable to the Membership Interest transferred for the Accounting Period during which the transfer occurred will be allocated between the transferor and transferee of the Membership Interest in proportion to the time during the Accounting Period that the Membership Interest was owned by the transferor and transferee. Credits shall be allocated to the Member who owned the Membership Interest at the time that the property giving rise to the credit was placed in service. Each transferee will be credited with the Capital Account of the transferee's transferor. If a transferor transfers less than all of the transferor's Membership Interest, the Capital Account will be allocated in proportion to the fraction of the Membership Interest respectively transferred and retained.
Sharing Between Transferor and Transferee. (a) Upon the transfer of all or any part of the Interest of a Member, Profits and Losses shall be allocated between the transferor and transferee on the basis of the computation method which in the reasonable discretion of the Manager is in the best interests of the partnership, provided such method is in conformity with the methods prescribed by Section 706 of the Code and Regulations Section 1.706-l(c)(2)(ii). Distributions of Distributable Cash shall be made to the holder of record of an Economic Interest on the date of distribution. Any transferee of an Economic Interest shall succeed to the Capital Account of the transferor Member to the extent it relates to the transferred Economic Interest; provided, however, that if such transfer causes a termination of the Company pursuant to Section 708(b)(1)(B) of the Code, the Capital Accounts of all Members, including the transferee, shall be redetermined as of the date of such termination in accordance with Regulations Section 1.704- l(b).
(b) Subject to the provisions of the Regulations Section 1.704-l(b), adjustments to the adjusted tax basis of Company property under Section 743 and 732(d) of the Code shall not be reflected in the Capital Account of the transferee Member or on the books of the Company, and subsequent Capital Account adjustments for distributions, depreciation, amortization, and gain or loss with respect to such property shall disregard the effect of such basis adjustment.
Sharing Between Transferor and Transferee. If an interest in the Partnership is transferred, the Profits and Losses allocable and the cash Distributable to that interest for the Accounting Period during which the transfer occurred will be allocated and distributed between the transferor and transferee of the interest in proportion to the time during the Accounting Period that the interest was owned by the transferor and transferee. The transfer will be deemed to occur effective on the first day of the month in which the transferor signs the agreement providing for the transfer of the interest to the transferee. A Capital Account and an Unreturned Contribution sub-account will be established for each transferee and will be credited or debited as appropriate with an amount in proportion to the number of Units respectively transferred and retained.
Sharing Between Transferor and Transferee. If an interest in the Partnership is transferred, the income, gains, losses and deductions allocable to the interest transferred for the Accounting Period during which the transfer occurred will be allocated between the transferor and transferee of the interest in proportion to the time during the Accounting Period that the interest was owned by the transferor and transferee. Credits shall be allocated to the party who owned the interest at the time that the property giving rise to the credit was placed in service. Each transferee will be credited with the Capital Account of the transferee's transferor. If a transferor transfers less than all of the transferor's interest in the Partnership, the Capital Account will be allocated in proportion to the fraction of the interest respectively transferred and retained.
