Common use of Unrealized Receivables Clause in Contracts

Unrealized Receivables. If an Member’s Interest is reduced (provided the reduction does not result in a complete termination of the Member’s Interest), the Member’s share of the Company’s “unrealized receivables” and “substantially appreciated inventory” (within the meaning of Code Section 751) shall not be reduced, so that, notwithstanding any other provision of this Agreement to the contrary, that portion of the Profit otherwise allocable upon a liquidation or dissolution of the Company pursuant to this Agreement that is taxable as ordinary income for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any Member, be specially allocated among the Members in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture income. Any questions as to the aforesaid allocation of ordinary income, to the extent such questions cannot be resolved in the manner specified above, shall be resolved by the Manager.

Unrealized Receivables. If an a Member’s Interest is reduced (provided the reduction does not result in a complete termination of the Member’s Interest), the Member’s share of the Company’s “unrealized receivables” and “substantially appreciated inventory” (within the meaning of Code Section 751) shall not be reduced, so that, notwithstanding any other provision of this Agreement to the contrary, that portion of the Profit otherwise allocable upon a liquidation or dissolution of the Company pursuant to this Agreement that is taxable as ordinary income for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any Member, be specially allocated among the Members in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture income. Any questions as to the aforesaid allocation of ordinary income, to the extent such questions cannot be resolved in the manner specified above, shall be resolved by the Manager.

Unrealized Receivables. If an the Member’s Interest is reduced (provided the reduction does not result in a complete termination of the Member’s Interest), the Member’s share of the Company’s “unrealized receivables” and “substantially appreciated inventory” (within the meaning of Code Section 751) shall not be reduced, so that, notwithstanding any other provision of this Agreement to the contrary, that portion of the Profit otherwise allocable upon a liquidation or dissolution of the Company pursuant to this Agreement that Section 4.4 hereof which is taxable as ordinary income (recaptured) for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any the Member, be specially allocated among to the Members Member in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture incomerecapture. Any questions as to the aforesaid allocation of ordinary incomeincome (recapture), to the extent such questions cannot be resolved in the manner specified above, shall be resolved by the ManagerMember.

Unrealized Receivables. If an a Member’s Interest is reduced (provided the reduction does not result in a complete termination of the Member’s Interest), the Member’s share of the Company’s “unrealized receivables” and “substantially appreciated inventory” (within the meaning of Code Section 751section 751 of the Code) shall not be reduced, so that, notwithstanding any other provision of this Agreement to the contrary, that portion of the Profit otherwise allocable upon a liquidation or dissolution of the Company pursuant to this Agreement that Section 4.3 hereof which is taxable as ordinary income (recaptured) for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any Member, be specially allocated among the Members in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture incomerecapture. Any questions as to the aforesaid allocation of ordinary incomeincome (recapture), to the extent such questions cannot be resolved in the manner specified above, shall be resolved by the ManagerMembers.

Unrealized Receivables. If an a Member’s 's Interest is reduced (provided the reduction does not result in a complete termination of the Member’s 's Interest), the Member’s 's share of the Company’s “'s "unrealized receivables” " and “"substantially appreciated inventory” " (within the meaning of Code Section 751) shall not be reduced, so that, notwithstanding any other provision of this Agreement to the contrary, that portion of the Profit otherwise allocable upon a liquidation or dissolution of the Company pursuant to this Agreement that Section 4.4 hereof which is taxable as ordinary income (recaptured) for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any Member, be specially allocated among the Members in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture incomerecapture. Any questions as to the aforesaid allocation of ordinary incomeincome (recapture), to the extent such questions cannot be resolved in the manner specified above, shall be resolved by the Manager.

Unrealized Receivables. If an the Member’s 's Interest is reduced (provided the reduction does not result in a complete termination of the Member’s 's Interest), the Member’s 's share of the Company’s “'s "unrealized receivables” " and “"substantially appreciated inventory” " (within the meaning of Code Section 751) shall not be reduced, so that, notwithstanding any other provision of this Agreement to the contrary, that portion of the Profit otherwise allocable upon a liquidation or dissolution of the Company pursuant to this Agreement that Section 4.4 hereof which is taxable as ordinary income (recaptured) for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any the Member, be specially allocated among to the Members Member in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture incomerecapture. Any questions as to the aforesaid allocation of ordinary incomeincome (recapture), to the extent such questions cannot be resolved in the manner specified above, shall be resolved by the ManagerMember.

Unrealized Receivables. If an a Member’s Interest is Units are reduced (provided the reduction does not result in a complete termination of the Member’s Interest), the Member’s share of the Company’s “unrealized receivables” and “substantially appreciated inventory” (within the meaning of the Code Section 751) shall not be reduced, so that, notwithstanding any other provision of this Agreement to the contrary, that portion of the Profit profits otherwise allocable upon a liquidation or dissolution of the Company pursuant to this Agreement that is taxable as ordinary income for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any Member, be specially allocated among the Members in proportion to the deductions deduction (or basis reductions treated as deductions) giving rise to such recapture income. Any questions as to the aforesaid allocation of ordinary income, to the extent such questions cannot be resolved in the manner specified above, shall be resolved by the ManagerMangers, in their absolute discretion.