Common use of Transfers During a Fiscal Year Clause in Contracts

Transfers During a Fiscal Year. In the event of a Transfer of a Member’s Units at any time other than the end of a Fiscal Year, the various items of Company income, gain, deduction, loss, credit and allowance as computed for federal income tax purposes shall be allocated between the transferor and the transferee in the ratio of the number of days in the Fiscal Year before and after the Transfer, unless the transferor and the transferee shall (i) have given the Company written notice, on or before the January 15 following the year in which such Transfer occurred, stating their agreement that such allocation shall be made on some other proper basis and (ii) agree to reimburse the Company for any incidental accounting fees and other expenses incurred by the Company in making such allocation.