Common use of Corrective Allocations Clause in Contracts

Corrective Allocations. If the Company is required by Sections 4.2(c), (d), (1) and (h) above to make an allocation to the Member, the Company shall, upon the advice of the Company’s independent tax counsel that it is so permitted under Section 704(b) of the Code and the Regulations thereunder or other Code provisions, allocate Net Income or Net Loss arising in later Fiscal Years so as to bring the allocations of Net Income or Net Loss to the Member as nearly as possible to the allocations thereof otherwise contemplated by this Article IV as if such allocation were not made.

Corrective Allocations. If the Company is required by Sections 4.2(c), (d), (1f) and (h) above to make an allocation to the Member, the Company shall, upon the advice of the Company’s independent tax counsel that it is so permitted under Section 704(b) of the Code and the Regulations thereunder or other Code provisions, allocate Net Income or Net Loss arising in later Fiscal Years so as to bring the allocations of Net Income or Net Loss to the Member as nearly as possible to the allocations thereof otherwise contemplated by this Article IV as if such allocation were not made.

Corrective Allocations. If the Company is required by Sections 4.2(c), (d), (1f) and (h) above to make an allocation in a manner less favorable to the MemberMembers than is otherwise provided for in this Article IV, the Company shall, upon the advice of the Company’s independent tax counsel that it is they are so permitted under Section 704(b) of the Code and the Regulations thereunder or other Code provisions, allocate Net Income or Net Loss arising in later Fiscal Years so as to bring the allocations of Net Income or Net Loss to the Member Members as nearly as possible to the allocations thereof otherwise contemplated by this Article IV as if such allocation were not made.

Corrective Allocations. If the Company is required by Sections 4.2(csubparagraphs(c), (d), (1f) and (h) above to make an allocation to the MemberMembers, the Company shall, upon the advice of the Company’s independent tax counsel that it is they are so permitted under Section 704(b) of the Code and the Regulations thereunder or other Code provisions, allocate Net Income or Net Loss arising in later Fiscal Years so as to bring the allocations of Net Income or Net Loss to the Member Members as nearly as possible to the allocations thereof otherwise contemplated by this Article IV Schedule B as if such allocation were not made.