Allocations of Profits and Losses. No member shall be given priority or preference with respect to other members in obtaining a return of capital contributions, distributions or allocations of the income, gains, losses, deductions, credits or other items of the LLC. The profits and losses of the LLC, and all items of its income, gain, loss, deduction and credit shall be allocated to members according to each member's percentage interest in this LLC.
Appears in 30 contracts
Samples: Massachusetts Limited Liability Company, Limited Liability Company Operating Agreement, Operating Agreement
Allocations of Profits and Losses. No member shall be given priority or preference with respect to other members in obtaining a return of capital contributions, distributions distributions, or allocations of the income, gains, losses, deductions, credits credits, or other items of the LLC. The profits and losses of the LLC, and all items of its income, gain, loss, deduction deduction, and credit shall be allocated to members according to each member's percentage interest in this LLC.
Appears in 1 contract
Samples: Operating Agreement
