Transfer of or Change in LLC Interests. The Tax Matters Member is authorized to adopt 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 transferred LLC Interest. A transferee of an LLC Interest in the Company shall succeed to the Capital Account of the transferor Member to the extent it relates to the transferred LLC Interest.
Appears in 16 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Private Owner Interest Sale and Assignment Agreement
Transfer of or Change in LLC Interests. The Tax Matters Member Representative is authorized to adopt 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 transferred LLC Interest. A transferee of an LLC Interest in the Company shall will succeed to the Capital Account of the transferor Member to the extent it relates to the transferred LLC Interest.
Appears in 7 contracts
Samples: Private Owner Interest Sale and Assignment Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Transfer of or Change in LLC Interests. The Tax Matters Member Representative is authorized to adopt 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 transferred LLC Interest. A transferee of an LLC Interest in the Company shall will succeed to the Capital Account of the transferor Member to the extent it relates to the transferred LLC Interest.Interest.ββ
Appears in 1 contract
Samples: Private Owner Interest Sale and Assignment Agreement
