Common use of Allocations upon Transfers of LLC Interests Clause in Contracts

Allocations upon Transfers of LLC Interests. If, during an Accounting Period, a Member (the “Transferring Member”) transfers Units to another Person, items of Net Income and Net Loss, together with corresponding tax items, that otherwise would have been allocated to the Transferring Member with regard to such Accounting Period shall be allocated between the Transferring Member and the Substitute Member in accordance with their respective Units during the Accounting Period using any method permitted by Section 706 of the Code and selected by the Members.

Allocations upon Transfers of LLC Interests. If, during an Accounting Period, a Member (the “Transferring Member”"TRANSFERRING MEMBER") transfers Units Shares to another Personperson, items of Net Income and Net Loss, together with corresponding tax items, that otherwise would have been allocated to the Transferring Member with regard to such Accounting Period shall be allocated between the Transferring Member and the Substitute substitute Member in accordance with their respective Units Shares during the Accounting Period using any method permitted by Section 706 of the Code and selected by the MembersManagers.

Allocations upon Transfers of LLC Interests. If, during an Accounting Period, a Member (the “Transferring Member”") transfers Units Shares to another Personperson in accordance with this Agreement, items of Net Income and Net Loss, together with corresponding tax items, that otherwise would have been allocated to the Transferring Member with regard to such Accounting Period shall be allocated between the Transferring Member and the Substitute Member in accordance with their respective Units Shares during the Accounting Period using any method permitted by Section 706 of the Code and selected by such Member as approved by the MembersManaging Member in its sole and absolute discretion.