Transfer During Taxable Year Sample Clauses

Transfer During Taxable Year. In the case of the Transfer of a Member’s Membership Interest (or portion thereof or interest therein) at any time other than the end of an accounting year of the Company, the distributive share of the various items of income, gain, loss, deduction, credit or allowance in respect of the Membership Interest so transferred as computed for federal income tax purposes or for purposes of the tax laws of any state or jurisdiction shall be allocated between the transferor and the transferee to take into account the varying interests of the Members in the Company during the taxable year in accordance with Code Section 706(d) using any convention permitted by law and selected by the Board. The effective date of a Transfer shall be (a) in the case of voluntary Transfer, the effective date stated in the assignment or such other date as is mutually agreed between transferor and transferee or (b) in the case of an involuntary Transfer, the date of the operative event, but, unless the transferor, transferee and the Company otherwise agree, such effective date shall not affect any Distribution made by the Company to the transferor or contributions made by the transferor to the Company prior to the date of notice to the Company of such Transfer.
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Transfer During Taxable Year. In the case of the transfer of a Member's Membership Interest (or portion thereof or interests therein) at any time other than the end of a Fiscal Year, all of the various items of the Company's income, gain, loss, deduction, credit or allowance, (other than from sale of real property) shall be pro rated. The effective date of a transfer shall be (a) in the case of voluntary transfer, the effective date stated in the assignment or such other date as is mutually agreed between transferor and transferee or (b) in the case of an involuntary transfer, the date of the operative event, but, unless the transferor, transferee and the Company otherwise agree, such effective date shall not affect any distribution made by the Company to the transferor or contributions made by the transferor to the Company prior to the date of notice to the Company of such transfer.
Sample 1
Transfer During Taxable Year. Subject to section 706 of the Code, in the event of a Transfer of a Partner's interest or any part thereof at any time other than the close of the Partnership's fiscal year, the allowable shares of the various items of the Partnership's income, gain, loss, deduction and credit (and other items separately reported) as computed for federal and state income tax purposes, shall be allocated between the transferor and the transferee by closing the Partnership's books with respect to such Transfer as of the close of the calendar month in which such Transfer occurs (unless a different method of allocation is approved, in writing, by the transferor and the transferee and the General Partner).
Sample 1
Transfer During Taxable Year. In the case of the Transfer of a Member's Membership Interest (or portion thereof or interests therein) at any time other than the end of a Fiscal Year, all of the various items of the Company's income, gain, loss, deduction, credit or allowance, (other than from sale of real property) shall be allocated in accordance with Section 3.06. The effective date of a transfer shall be the effective date stated in the assignment or such other date as is mutually agreed between transferor and transferee.
Sample 1
Transfer During Taxable Year. If any Partnership Interest is transferred, or is otherwise increased or decreased, at any time other than the end of a taxable year of the Partnership, the General Partner will allocate the various items of Partnership income, gain, deduction, loss, credit and allowance as computed for federal income tax purposes pro rata pursuant to an "interim- closing-of-the-books" method. [This provision is not included if there is an absolute prohibition against transfers. See: DRULPA ¤ 702; ¤ 12.03[19] supra; see Chapter 9 supra for additional provisions that may be included in Section 10 for tax purposes.]
Sample 1

Related to Transfer During Taxable Year

  • Allocations During the Rapid Amortization Period During the Rapid Amortization Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, allocate to the Investor Certificateholders and pay or deposit from the Collection Account the following amounts as set forth below:

  • Allocations During the Revolving Period During the Revolving Period, the Servicer shall, prior to the close of business on the day any Collections are deposited in the Collection Account, allocate to the Investor Certificateholders or the Holder of the Seller Interest and pay or deposit from the Collection Account the following amounts as set forth below:

  • Distributions During Lifetime (a) Notwithstanding any provision of this Agreement to the contrary, the distribution of the Participant’s interest in the Custodial Account shall be made in accordance with the requirements of Code Section 408(a)(6) and the regulations thereunder, the provisions of which are herein incorporated by reference. If distributions are made from an annuity contract purchased from an insurance company, distributions thereunder must satisfy the requirements of Q&A-4 of Section 1.401(a)(9)-6 of the Income Tax Regulations, rather than paragraphs (b), (c) and (d) below and Section 5.2. The required minimum distributions calculated for this XXX may be withdrawn from another XXX of the Participant in accordance with Q&A-9 of Section 1.408-8 of the Income Tax Regulations. If this is an inherited XXX within the meaning of Code Section 408(d)(3)(C), the preceding sentence and paragraphs (b), (c), and (d) below do not apply.

  • Allocations During Period of Liquidation During the period commencing on the first day of the Fiscal Year during which a Dissolution Event occurs and ending on the date on which all of the assets of the Company have been distributed to the Unit Holders pursuant to Section 10.2 of this Agreement (the “Liquidation Period”), the Unit Holders shall continue to share Profits, Losses, gain, loss and other items of Company income, gain, loss or deduction in the manner provided in Article III of this Agreement.

  • Sales During Pre-Settlement Period Notwithstanding anything herein to the contrary, if at any time on or after the time of execution of this Agreement by the Company and an applicable Purchaser, through, and including the time immediately prior to the Closing (the “Pre-Settlement Period”), such Purchaser sells to any Person all, or any portion, of any shares of Common Stock to be issued hereunder to such Purchaser at the Closing (collectively, the “Pre-Settlement Shares”), such Purchaser shall, automatically hereunder (without any additional required actions by such Purchaser or the Company), be deemed to be unconditionally bound to purchase, and the Company shall be deemed unconditionally bound to sell, such Pre-Settlement Shares to such Purchaser at the Closing; provided, that the Company shall not be required to deliver any Pre-Settlement Shares to such Purchaser prior to the Company’s receipt of the purchase price of such Pre-Settlement Shares hereunder; and provided further that the Company hereby acknowledges and agrees that the forgoing shall not constitute a representation or covenant by such Purchaser as to whether or not during the Pre-Settlement Period such Purchaser shall sell any shares of Common Stock to any Person and that any such decision to sell any shares of Common Stock by such Purchaser shall solely be made at the time such Purchaser elects to effect any such sale, if any.

  • Tax Periods Ending on or Before the Closing Date Buyer shall prepare or cause to be prepared and file or cause to be filed all Tax Returns for the Company and the Company Subsidiary for all periods ending on or prior to the Closing Date which are required to be filed (taking into account all extensions properly obtained) after the Closing Date.

  • Death During Benefit Period If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Death During Distribution of a Benefit If the Executive dies after any benefit distributions have commenced under this Agreement but before receiving all such distributions, the Bank shall distribute to the Beneficiary the remaining benefits at the same time and in the same amounts they would have been distributed to the Executive had the Executive survived.

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