Distributions and Allocations With Respect to Transferred Units. If any unit is assigned during any accounting period in compliance with the provisions of this Section 10, all Profits, Losses, each item thereof, and all other items attributable to the assigned unit for such period shall be divided and allocated between the assignee and the assignor by taking into account their varying rights during the period in accordance with Code Section 706(d), using any convention permitted by law and selected by the Manager. All distributions on or before the date of such assignment shall be made to the assignor and all distributions thereafter shall be made to the assignee.
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Samples: Operating Agreement (Bayou City Exploration, Inc.), Operating Agreement (Bayou City Exploration, Inc.), Operating Agreement (Bayou City Exploration, Inc.)
Distributions and Allocations With Respect to Transferred Units. If any unit is assigned during any accounting period in compliance with the provisions of this Section 107, all Profits, Losses, each item thereof, and all other items attributable to the assigned unit for such period shall be divided and allocated between the assignee and the assignor by taking into account their varying rights during the period in accordance with Code Section 706(d), using any convention permitted by law and selected by the Manager. All distributions on or before the date of such assignment shall be made to the assignor and all distributions thereafter shall be made to the assignee.
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