Common use of Financial Adjustments Clause in Contracts

Financial Adjustments. No Member admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager may, at its discretion, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, in accordance with the Code.

Appears in 7 contracts

Samples: Operating Agreement (HTS-Sunset Harbor Partner, L.L.C.), Operating Agreement (HTS-Sunset Harbor Partner, L.L.C.), Operating Agreement (HTS-Sunset Harbor Partner, L.L.C.)

AutoNDA by SimpleDocs

Financial Adjustments. No Member Members admitted after the date of --------------------- this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Tax Matters Partner may, at in its discretion, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with the Code.

Appears in 4 contracts

Samples: Operating Agreement (Mediacom LLC), Operating Agreement (Mediacom LLC), Operating Agreement Operating Agreement (Mediacom LLC)

Financial Adjustments. No Member admitted after the date of this Amended and Restated Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Managers may, at its discretionthe discretion of the Managers, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with the Code.

Appears in 2 contracts

Samples: Operating Agreement (West Village Gym at the Archives LLC), Operating Agreement (West Village Gym at the Archives LLC)

Financial Adjustments. No Member admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Management Member may, at in its sole discretion, at the time a new Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member member was admitted, in accordance with the Code.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement

Financial Adjustments. No Member Members admitted after the date of this --------------------- Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Members may, at its discretionthe discretion of the Members, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with of the Code.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Project Orange Capital Corp)

Financial Adjustments. No Member Members admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Tax Matters Partner may, at in its discretion, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with the Code.

Appears in 1 contract

Samples: Operating Agreement (Insight Communications Co Inc)

Financial Adjustments. No Member admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager Required Members may, at its their discretion, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, in accordance with the Code.

Appears in 1 contract

Samples: Operating Agreement (HTS-Sunset Harbor Partner, L.L.C.)

Financial Adjustments. No Member Members admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Members may, at its in their discretion, at the time a new Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with the provisions of the Code.

Appears in 1 contract

Samples: Operating Agreement (Am-Source, LLC)

Financial Adjustments. No Member Members admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Managers may, at its discretionthe discretion of the Managers, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with the Code.

Appears in 1 contract

Samples: Operating Agreement (NaturalNano , Inc.)

AutoNDA by SimpleDocs

Financial Adjustments. No Member admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager Board of Directors may, at its discretion, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, in accordance with the Code.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Financial Adjustments. No Member Members admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the The Manager may, at its discretion, may at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with the Code.

Appears in 1 contract

Samples: Operating Agreement

Financial Adjustments. No Member Members admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense expenses deductions incurred by the Company. If there is more than one Member, the The Manager may, at its discretionthe discretion of the Manager, at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with the Code.. ARTICLE IV Management 4.1

Appears in 1 contract

Samples: Qualex Inc.

Financial Adjustments. No Member admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Managers may, at its in their sole discretion, at the time a new Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member member was admitted, in accordance with the Code.

Appears in 1 contract

Samples: Operating Agreement (Able Energy Inc)

Financial Adjustments. No Member Members admitted after the date of this Agreement shall be entitled to any retroactive allocation of losses, income or expense deductions incurred by the Company. If there is more than one Member, the Manager The Manager(s) may, at its discretionthe discretion of the Manager(s), at the time a Member is admitted, close the books and records of the Company (as though the Fiscal Year had ended) or make pro rata PRO RATA allocations of loss, income and expense deductions to such Member for that portion of the Fiscal Year in which such Member was admitted, admitted in accordance with the Code.

Appears in 1 contract

Samples: Operating Agreement (Victory Entertainment Corp)

Time is Money Join Law Insider Premium to draft better contracts faster.