Common use of Assignments of Interests Clause in Contracts

Assignments of Interests. In the case of any assignment of an Interest, the Assignee will have a beginning Capital Account equal to the Capital Account of the assignor of such Interest on the effective date of the assignment. For purposes of this Article V only, the maintenance of Capital Accounts, allocation of profits, losses and other items, and distributions of cash and other property, all as set forth in this Article V, shall equally apply to each Assignee and its Capital Account. [**] CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

Appears in 2 contracts

Sources: Operating Agreement (Bionumerik Pharmaceuticals Inc), Operating Agreement (Bionumerik Pharmaceuticals Inc)

Assignments of Interests. In the case of any assignment of an Interest, the Assignee will have a beginning Capital Account equal to the Capital Account of the assignor of such Interest on the effective date of the assignment. For purposes of this Article V only, the maintenance of Capital Accounts, allocation of profits, losses and other items, and distributions of cash and other property, all as set forth in this Article V, shall equally apply to each Assignee and its Capital Account. [**] CERTAIN INFORMATION IN THIS EXHIBIT HAS BEEN OMITTED AND FILED SEPARATELY WITH THE COMMISSIONCOMISSION. CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO THE OMITTED PORTIONS.

Appears in 1 contract

Sources: Operating Agreement (Bionumerik Pharmaceuticals Inc)