Transferred Interests. If any Membership Interest (or portion thereof) is sold, assigned or transferred during any Fiscal Year, then Profit, Loss, each item thereof and all other items realized by the Company during such Fiscal Year shall be divided and allocated between the Members by taking into account their varying interests during the Fiscal Year in accordance with Code Section 706(d), using any conventions permitted by law and selected by the Members.
Appears in 5 contracts
Samples: Agreement to Form Limited Liability Company and Contribution Agreement (Empire Resorts Inc), Purchase and Sale Agreement (Energy Transfer Partners, L.P.), Redemption Agreement (Energy Transfer Equity, L.P.)
Transferred Interests. If any Membership Interest (or portion thereof) is sold, assigned or transferred Transferred during any Fiscal Taxable Year, then Profit, Loss, each item thereof and all other items realized by the Company during such Fiscal Taxable Year shall be divided and allocated between the Members by taking into account their varying interests during the Fiscal Taxable Year in accordance with Code Section 706(d), using any conventions permitted by law and selected by the MembersOfficers.
Appears in 1 contract
Samples: Limited Liability Company Agreement (American Independence Corp)
