Profits Losses and Distributions. A. Each Member shall share all profits and losses, pro rata, in proportion to the Member's Interest in the Company. A Member's Interest shall be defined as a Member's pro rata share of ownership in the Company.
B. Any distribution of cash or any other property of the company shall be distributed in the following order:
(1) payment of taxes;
(2) payment of any indebtedness including debts owing to any Member and any other expenses; and
(3) to the Members in accordance with each Member's Interest in the Company.
Profits Losses and Distributions. (a) All profits and losses arising from the normal course of business operations or otherwise and all cash available for distribution from whatever source, commencing with the date of this Agreement, shall be allocated or distributed to the Members according to their Membership Interests.
(b) All profits and losses allocated to the Members shall be credited or charged, as the case may be, to their Capital Accounts. The terms "profits" and "losses" as used in this Agreement shall mean income and losses, and each item of income, gain, loss, deduction or credit entering into the computation thereof, as determined in accordance with the accounting methods followed by the Company and computed in a manner consistent with Treasury Regulation Section 1.704-1(b)(2)(iv). Profits and losses for Federal income tax purposes shall be allocated in the same manner as profits and losses for purposes of this Article VII, except as provided in Section 7.3(a).
Profits Losses and Distributions. PROFITS/LOSSES. For financial accounting and tax purposes the Company's net profits or net losses will be determined annually. Profits and losses will be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Exhibit 2 as amended and in accordance with Treasury Regulation 1.704-1.
Profits Losses and Distributions. ARTICLE VII Profits, Losses and Distributions ---------------------------------
Profits Losses and Distributions. A. Each Member shall share in the profits and losses from the first day of the calendar month during which said Member was admitted to the Company.
B. The terms “profits” and “losses” as used in this Agreement mean taxable income and losses as determined in accordance with the accounting methods followed by the Company for income tax purposes.
C. All profits and losses shared by the Members shall be credited or charged, as the case may be, to their Capital Accounts as follows:
(i) “losses” shall be allocated, for purposes of adjusting the Capital Accounts of the Members, in the following priority order:
(a) first, subject to Section 6.2.F. hereof, if net profits, previously allocated to the Members, have not been previously offset by net losses, to the Members in proportion to the respective amounts of their non-offset net profits, reversing the order of priority that applied to the allocation of such net profits, until all previously allocated net profits have been offset; and
(b) thereafter, on a pro rata basis in accordance with each Member’s respective Company Interests.
(ii) “profits” shall be allocated, for purposes of adjusting the Capital Accounts of Members, in the following priority:
(a) first, subject to Section 6.2.F. hereof, if net losses previously allocated to the Members have not been previously offset by net profits, to the Members in proportion to the respective amounts of their non-offset net losses, reversing the order of priority that applied to the allocation of such net losses, until all previously allocated net losses have been offset;
(b) thereafter, on a pro rata basis in accordance with each Member’s respective Company Interests.
D. The Company shall divide each fiscal year into twelve (12) segments, each consisting of one calendar month, for the purpose of allocating profits and losses and making distributions pursuant to this Section 6.2 to Members who are members of the Company during each such segment. If the Company’s first or final fiscal year consists of less than twelve
Profits Losses and Distributions. All profits, losses and distributions shall be allocated and made to the Member.
Profits Losses and Distributions. After deducting the expenses and management fees agreed to any and all Net Profits of this project(s) shall be allocated and divided between the parties on a monthly basis per the following:
1. Initially, 80% of the monthly Net Profits received are distributed to RBC until 100% of RBC's contribution to this project is returned.
2. The remaining 20% is distributed to ASNI. ONCE RBC RECEIVES 100% OF THE INITIAL CONTRIBUTION FOR THIS PROJECT, then A. 50% shall be distributed to RBC and/or nominee monthly and B. 50% shall be distributed to ASNI ASNI will provide a monthly income and expense summary and prepare an inhouse unaudited financial statement quarterly for this Project. All monthly expenses will be available for review in this report and/or the accounting may be reviewed by the partners with prior notice. Fixed monthly expenses will accrue and be paid from future income of the Project if sufficient income is not generated by the project for that month. The following guideline shall be used for the purpose of computing profits.
Profits Losses and Distributions. 15
Section 4.1 Allocation of Profits and Losses of the Partnership. 15 Section 4.2 Restriction on Withdrawals and Receipts. 16 Section 4.3 Set-Off. 17 Section 4.4 Compliance with Agreements. 17
Profits Losses and Distributions. Profits/Losses. For financial accounting and tax purposes, the Company’s net profits or net losses shall be determined on an annual basis. The LLC manager will report to the XXX custodian on an annual basis the total value of XXX owned LLC.
Profits Losses and Distributions. 92 Management of the Partnership.......................................95 Powers of the General Partner.......................................95 Rights and Liabilities of the Limited Partners......................96 Restrictions on Transfer of Partnership Interests...................97
