Transfer or Change in Company Interest. If the respective Membership Interests of the existing Members in the Company change or if a Membership Interest is Transferred in compliance with this Agreement to any other Person, then, for the Fiscal Year in which the Transfer occurs, all income, gains, losses, deductions, Tax Credits and other tax incidents resulting from the operations of the Company shall be allocated, as between transferor and transferee, by taking into account their varying interests using the closing of the books method in accordance with Section 706 of the Code, unless otherwise agreed by the Members.
Appears in 4 contracts
Samples: Operating Agreement (Pebblebrook Hotel Trust), Operating Agreement (Pebblebrook Hotel Trust), Operating Agreement (Pebblebrook Hotel Trust)
Transfer or Change in Company Interest. If the respective Membership Interests of the existing Members in the Company change or if a Membership Interest is Transferred in compliance with this Agreement to any other Person, then, for the Fiscal Year in which the Transfer occurs, all income, gains, losses, deductions, Tax Credits tax credits and other tax incidents resulting from the operations of the Company shall be allocated, as between transferor and transferee, by taking into account their varying interests using the an interim closing of the books method in accordance with Section 706 of the Code, unless otherwise or such other method as may be agreed by among the Common Members.
Appears in 2 contracts
Samples: Operating Agreement (Hersha Hospitality Trust), Operating Agreement (Hersha Hospitality Trust)
Transfer or Change in Company Interest. If the respective Membership Interests of the existing Members in the Company change or if a Membership Interest is Transferred in compliance with this Agreement to any other Person, then, for the Fiscal Year in which the Transfer occurs, all income, gains, credits (including Tax Credits), losses, deductions, Tax Credits and other tax incidents resulting from the operations of the Company shall be allocated, as between transferor and transferee, by taking into account their varying interests using the closing of the books method in accordance with Section 706 of the Code, unless otherwise agreed by all the Members.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Renegy Holdings, Inc.)
