Common use of Transfers During Year Clause in Contracts

Transfers During Year. In order to avoid an interim closing of the Company's books, the share of profits and losses under Article 5 of a Member who transfers part or all of its interest in the Company during the Company's accounting year may be determined by taking its pro rata share of the amount of such profits and losses for the year. The proration shall be based on the portion of the Company's accounting year that has elapsed prior to the transfer or may be determined under any other reasonable method; provided, however, that any gain or loss from the sale of Company assets shall be allocated to the owner of the Company interest at the time of such sale. The balance of the profits and losses attributable to the Company interest transferred shall be allocated to the transferee of such interest.

Transfers During Year. In order to avoid an interim closing of the Company's books, the share of profits Net Income and losses Net Loss under Article 5 of a Member who transfers part or all of its the Member's interest in the Company during the Company's accounting year may be determined by taking its the Member's pro rata share of the amount of such profits Net Income and losses Net Loss for the year. The proration shall be based on the portion of the Company's accounting year that has elapsed prior to the transfer or may be determined under any other reasonable method; provided, however, that any gain or loss from the sale of Company assets shall be allocated to the owner of the Company interest at the time of such sale. The balance of the profits Net Income and losses Net Loss attributable to the Company interest transferred shall be allocated to the transferee of such interestAssignee.

Transfers During Year. In order to avoid an interim closing of the Company's books, the share of profits and losses under Article 5 of a Member who transfers part or all of its his interest in the Company during the Company's accounting year may be determined by taking its his pro rata share of the amount of such profits and losses for the year. The proration shall be based on the portion of the Company's accounting year that which has elapsed prior to the transfer or may be determined under any other reasonable method; provided, however, that any gain or loss from the sale of Company assets shall be allocated to the owner of the Company interest at the time of such sale. The balance of the profits and losses attributable to the Company interest transferred shall be allocated to the transferee of such interest.