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 Section 4.5 hereof which is taxable as ordinary income (recapture) 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.

Unrealized Receivables. If an Member’s Interest Holder's ---------------------- Interest is reduced (provided the reduction does not result in a complete termination of the Member’s Interest Holder's Interest), the Member’s Interest Holder'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 Section 4.5 4.4 hereof which is taxable as ordinary income (recapturerecaptured) for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any MemberInterest Holder, be specially allocated among the Members Interest Holders in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture.

Unrealized Receivables. If an Member’s Interest Holder's Economic Interest is reduced (provided the reduction does not result in a complete termination of the Member’s Interest Holder's Interest), the Member’s Interest Holder's share of the Company’s “'s "unrealized receivables” " and “"substantially appreciated inventory” " (within the meaning of Code IRC 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 Section 4.5 4.4 hereof which is taxable as ordinary income (recapturerecaptured) for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any MemberInterest Holder, be specially allocated among the Members Interest Holders in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture.

Unrealized Receivables. If an a Member’s Interest 's share of Profits or capital 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 751751 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 Section 4.5 4.4 hereof which is taxable as ordinary income (recapturerecaptured) 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.

Unrealized Receivables. If an MemberInterest Holder’s Economic Interest is reduced (provided the reduction does not result in a complete termination of the MemberInterest Holder’s Economic Interest), the MemberInterest Holder’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 Section 4.5 4.4 hereof which is taxable as ordinary income (recapturerecaptured) for federal income tax purposes shall, to the extent possible without increasing the total gain to the Company or to any MemberInterest Holder, be specially allocated among the Members Interest Holders in proportion to the deductions (or basis reductions treated as deductions) giving rise to such recapture.