Common use of Transfer of or Change in Interests Clause in Contracts

Transfer of or Change in Interests. The Tax Matters Partner, subject to the supervision of the Board of Directors, is authorized to use any convention or combination of conventions likely to be upheld for federal income tax purposes regarding the allocation of items of Company income, gain, loss, deduction and expense with respect to a new Member's Interest, a transferred Interest and a withdrawn Interest. A transferee who takes all or part of a Member's Interest shall succeed to the Capital Account of the transferor Member to the extent it relates to the whole or partial Interest transferred.

Transfer of or Change in Interests. The Tax Matters Partner, subject to the supervision of the Board of Directors, is authorized to use any convention or combination of conventions likely to be upheld for federal income tax purposes regarding the allocation of items of Company income, gain, loss, deduction and expense with respect to a new Member's Interest’s Unit, a transferred Interest Unit and a withdrawn InterestUnit. A transferee who takes all or part of a Member's Interest ’s Unit shall succeed to the Capital Account of the transferor Member to the extent it relates to the whole or partial Interest Unit transferred.

Transfer of or Change in Interests. The Tax Matters Partner, subject to the supervision of the Board of Directors, is authorized to use any convention or combination of conventions likely to be upheld for federal income tax purposes regarding the allocation of items of Company income, gain, loss, deduction and expense with respect to a new Member's InterestUnit, a transferred Interest Unit and a withdrawn InterestUnit. A transferee who takes all or part of a Member's Interest Unit shall succeed to the Capital Account of the transferor Member to the extent it relates to the whole or partial Interest Unit transferred.