Excess Nonrecourse Liability Safe Harbor. Pursuant to Regulation § 1.752-3(a)(3), solely for purposes of determining each Member’s proportionate share of the “excess nonrecourse liabilities” of the Company (as defined in Regulation § 1.752-3(a)(3)), the Members’ respective interests in Company profits shall be their respective Percentage Interests.
Appears in 2 contracts
Sources: Operating Agreement (Limoneira CO), Operating Agreement
Excess Nonrecourse Liability Safe Harbor. Pursuant to Regulation § Section 1.752-3(a)(3)) of the Regulations, solely for purposes of determining each Member’s proportionate share of the “excess nonrecourse liabilities” of the Company (as defined in Regulation § Section 1.752-3(a)(3)) of the Regulations), the Members’ respective interests in Company profits shall be their respective Percentage Interestsdetermined under any permissible method reasonably determined by the Managers by Board Approval.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (New York REIT, Inc.), Membership Interest Purchase Agreement (New York REIT, Inc.)
Excess Nonrecourse Liability Safe Harbor. Pursuant to Regulation § Regulations Section 1.752-3(a)(3), solely for purposes of determining each Member’s 's proportionate share of the “"excess nonrecourse liabilities” " of the Company (as defined in Regulation § Regulations Section 1.752-3(a)(3)), the Members’ ' respective interests in Company profits shall be their respective Member Percentage Interests.
Appears in 2 contracts
Sources: Operating Agreement (Grill Concepts Inc), Operating Agreement (Grill Concepts Inc)
Excess Nonrecourse Liability Safe Harbor. Pursuant to Regulation § 1.752-3(a)(3), solely for purposes of determining each Member’s 's proportionate share of the “"excess nonrecourse liabilities” " of the Company (as defined in Regulation § 1.752-3(a)(3)), the Members’ ' respective interests in Company profits shall be their respective Percentage Interests.
Appears in 1 contract
Excess Nonrecourse Liability Safe Harbor. Pursuant to Regulation § Regulations Section 1.752-3(a)(3), solely for purposes of determining each Member’s 's proportionate share of the “"excess nonrecourse liabilities” " of the Company (as defined in Regulation § Regulations Section 1.752-3(a)(3)), the Members’ ' respective interests in Company profits shall be their respective Percentage InterestsUnits.
Appears in 1 contract