Allocations Between Transferor and Transferee. Upon the Transfer of all or any portion of a Member’s Units in accordance with the provisions of this Agreement, Profits and Losses with respect to such Units so Transferred shall be allocated between the transferor and Transferee of such Units on the basis of the computation method which is in the best interest of the Company, provided such method is in conformity with the methods prescribed by Code Section 706 and Regulations Section 1.706-1(c)(2)(ii).
Appears in 4 contracts
Samples: Limited Liability Company Agreement (CityCenter Holdings, LLC), Limited Liability Company Agreement (MGM Mirage), Limited Liability Company Agreement (MGM Resorts International)
Allocations Between Transferor and Transferee. Upon the Transfer of all or any portion of a Member’s Units in accordance with the provisions of this Agreement, Profits and Losses with respect to such Units so Transferred shall be allocated between the transferor and Transferee transferee of such Units on the basis of the computation method which is in the best interest of the Company, provided such method is in conformity with the methods prescribed by Code Section 706 and Regulations Section 1.706-1(c)(2)(ii1I(2)(ii). Distributions of Distributable Cash shall be made to the holder of record of such Units on the date of distribution.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Dubai World), Limited Liability Company Agreement (MGM Mirage)
