Common use of TRANSFER OR CHANGE IN MEMBER INTERESTS Clause in Contracts

TRANSFER OR CHANGE IN MEMBER INTERESTS. If the respective interests of the existing Members in the Company change or if a Company interest is transferred to any other person or entity, then, for the Fiscal Year of transfer, all income, gains, losses, deductions, tax credits and other tax incidents resulting from the operations of the Company shall be allocated, as between the transferor and the transferee, by taking into account their varying interests in accordance with Section 706 of the Code.

TRANSFER OR CHANGE IN MEMBER INTERESTS. If the respective interests of Units held by the existing Members in the Company change or if a Company interest Unit is transferred to any other person or entity, then, for the Fiscal Year of transfer, all income, gains, losses, deductions, tax credits and other tax incidents resulting from the operations of the Company shall be allocated, as between the transferor and the transferee, by taking into account their varying interests in accordance with Section 706 of the Code.