Change in Interests. If during any year there is a change in a Member's percentage interest, the Member's share of profits and losses and distributions in that year shall be determined under a method which takes into account the varying interests during the year.
Change in Interests. If there is a change in any Member’s interest in the Company during any Fiscal Year, the principles of Section 706(d) of the Code shall apply in allocating Net Income and Net Loss and items thereof for such Fiscal Year to account for the variation. For purposes of applying Section 706(d) of the Code, the Tax Matters Partner may adopt any method or convention permitted under applicable Regulations. If there is a change in the Interest of any Member, then for purposes of applying Section 4.5 with respect to the fiscal period ending on the date of change, the hypothetical liquidating distributions under Section 4.5 shall be made on the basis of the interests of each Member as applied before giving effect to such change.
Change in Interests. Notwithstanding the foregoing, in the event of a change in the Members’ Percentage Interests in the Company during a year, whether occasioned by admission of a new Member, additional contributions, assignments of Membership Units or otherwise, the allocation of items of income and expense shall be made so as to reflect the Members’ varying Percentage Interests in the Company during the year. Profits and losses for the year shall be prorated on a daily basis and allocated among the Members based upon the period of time during which they held their respective Percentage Interests.
Change in Interests. Upon any change in the relative interests of the Partners, whether by reason of the admission or withdrawal of a Partner or otherwise, the Partners' shares of all Partnership items shall be determined, except as otherwise required by law, by an interim closing of the Partnership's books.
Change in Interests. Except as provided in Section 9.1(e) hereof or as otherwise required by law, if the Company Interests of the Members are changed herein during any taxable year, all items to be allocated to the Members for such entire taxable year shall be prorated on the basis of the portion of such taxable year which precedes each such change and the portion of such taxable year on and after each such change according to the number of days in each such portion, and the items so allocated for each such portion shall be allocated to the Members in the manner in which such items are allocated as provided in this Article 9 during each such portion of the taxable year in question.
Change in Interests. Except as otherwise required by law, if the Interests of the Members are changed during any taxable year, all items to be allocated to the Members for such entire taxable year will be prorated on the basis of the portion of such taxable year which precedes each such change and the portion of such taxable year on and after each such change according to the number of days in each such portion, and the items so allocated for each such portion will be allocated to the Members in the manner in which such items are allocated as provided in Section 7.1 during each such portion of the taxable year in question.
Change in Interests. Upon any change in the relative interests of the Members, whether by reason of the admission or withdrawal of a Member or otherwise, the Members’ shares of all Company items shall be determined, except as otherwise required by law, by an interim closing of the Company’s books.
Change in Interests. When a Member is admitted or ends their Membership in the Cooperative, causing a change in the relative interests of the Members, the Members’ shares of all Cooperative items shall be determined, except as otherwise required by law, by an interim closing of the Cooperative’s books.
