Allocation of Company Items. Except as otherwise provided herein, whenever a proportionate part of Net Income or Net Loss is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income or Net Loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income or Net Loss was realized shall be allocated to the Owner in the same proportion.
Appears in 10 contracts
Samples: Limited Liability Company Agreement, LLC Operating Agreement, Operating Agreement
Allocation of Company Items. Except as otherwise provided herein, whenever a proportionate part of Net Income or Net Loss is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income or Net Loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income or Net Loss was realized shall be allocated to the Owner Member in the same proportion.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Terra Secured Income Fund 5, LLC)
Allocation of Company Items. Except as otherwise provided herein, whenever a proportionate part of Net Income or Net Loss is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income or Net Loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income or Net Loss was realized shall be allocated to the Owner Member in the same proportion. For purposes of this Section 4 and Section 5, an Economic Interest Owner shall be treated as a Member.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Cottonwood Multifamily Opportunity Fund, Inc.), Limited Liability Company Agreement (Cottonwood Multifamily Reit Ii, Inc.), Limited Liability Company Agreement (Cottonwood Multifamily Reit I, Inc.)
Allocation of Company Items. Except as otherwise provided herein, whenever a proportionate part of Net Income or Net Loss is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income or Net Loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income or Net Loss was realized shall be allocated based on each class of unit’s unit of Equipment, and then to the Owner Member of that class in the same proportion.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)
Allocation of Company Items. Except as otherwise provided herein, whenever a proportionate part of Net Income Profits or Net Loss Losses is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income Profits or Net LossLosses, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income Profits or Net Loss Losses was realized shall be allocated to the Owner Member, in the same proportionproportion and consistent with the applicable provisions of this Article VII.
Appears in 2 contracts
Samples: Operating Agreement (Performance Capital Management LLC), Operating Agreement (Performance Capital Management LLC)
Allocation of Company Items. Except as otherwise provided herein, --------------------------- whenever a proportionate part of Net Income or Net Loss is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income or Net Loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income or Net Loss was realized shall be allocated to the Owner in the same proportion.
Appears in 1 contract
Samples: Operating Agreement (T Reit Inc)
Allocation of Company Items. Except as otherwise provided herein, whenever a proportionate part of Net Income or Net Loss is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income or Net Loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income or Net Loss was realized shall be allocated to the Owner in the same proportion.or
Appears in 1 contract
Samples: Operating Agreement
Allocation of Company Items. Except as otherwise provided ---------------------------- herein, whenever a proportionate part of Net Income Profits or Net Loss Losses is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income Profits or Net LossLosses, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income Profits or Net Loss Losses was realized shall be allocated to the Owner Member, in the same proportionproportion and consistent with the applicable provisions of this Article VII.
Appears in 1 contract
Samples: Operating Agreement (Performance Capital Management LLC)
Allocation of Company Items. Except as otherwise provided herein, whenever a proportionate part of Net Income or Net Loss is allocated to a Member, every item of income, gain, loss or deduction entering into the computation of such Net Income or Net Loss, and every item of credit or tax preference related to such allocation and applicable to the period during which such Net Income or Net Loss was realized shall be allocated to the Owner Member in the same proportion.. For purposes of this Section 4 and Section 5, an Economic Interest Owner shall be treated as a Member. 4.7
Appears in 1 contract
Samples: Limited Liability Company Agreement (Cottonwood Multifamily Reit Ii, Inc.)
