Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors may, at their option, at the time a Member is admitted, close the Company's books (as though the Company's Fiscal Year had ended) or make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's Fiscal Year in which a Member was admitted in accordance with the provisions of IRC e 706(d) and the Treasury Regulations promulgated thereunder.
Appears in 1 contract
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors Manager may, at their option, at the time a Member is admitted, close the Company's Company books (as though the Company's Fiscal Year tax year had ended) or make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's Fiscal Year tax year in which a Member was admitted in accordance with the provisions of IRC e Sec. 706(d) and the Treasury Regulations promulgated thereunder.
Appears in 1 contract
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors Managers may, at as their option, at the time a Member is admitted, close the Company's Company books (as though the Company's Fiscal Year tax year had ended) or make pro rata allocations of loss, income, and expense deductions to a new Member member for that portion of the Company's Fiscal Year tax year in which a Member member was admitted in In accordance with the provisions of IRC e Sec. 706(d) and the Treasury Regulations promulgated thereunder.
Appears in 1 contract
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors Manager may, at their its option, at the time a Member is admitted, close the Company's Company books (as though the Company's Fiscal Year tax year had ended) or make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's Fiscal Year tax year in which a Member was admitted in accordance with the provisions of IRC e Sec. 706(d) and the Treasury Regulations promulgated thereunder.
Appears in 1 contract
Financial Adjustments. No new Members Member shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors Company may, at their its option, at the time a new Member is admitted, close the Company's books (as though the Company's Fiscal Year tax year had ended) or make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's Fiscal Year tax year in which a Member was admitted in accordance with the provisions of IRC e 706(d) Section 706 of the Code and the Treasury Regulations promulgated thereunder.
Appears in 1 contract
Financial Adjustments. No new Members Member shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors Manager may, at their its option, at the time a Member is admitted, close the Company's Company books (as though the Company's Fiscal Year tax year had ended) or make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's Fiscal Year tax year in which a Member was admitted in accordance with the provisions of IRC e 706(dss.706(d) and the Treasury Regulations promulgated thereunder.
Appears in 1 contract
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors may, at their option, at the time a Member is admitted, close the Company's Company books (as though the Company's Fiscal Year tax year had ended) or make pro rata allocations of loss, income, loss and expense deductions to a new Member for that portion of the Company's Fiscal Year tax year in which a Member was admitted in accordance with the provisions of IRC e 706(dCode Section 706(a) and the Treasury Regulations promulgated thereunder.
Appears in 1 contract
Sources: Joint Venture Agreement (Constellation Brands, Inc.)
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors Members may, at their option, at the time a Member is admitted, close the Company's Company books (as though the Company's Fiscal Year had tax year has ended) or make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's Fiscal Year tax year in which a Member was admitted in accordance with the provisions of IRC e § 706(d) and the Treasury Regulations promulgated thereunder.
Appears in 1 contract
Sources: Operating Agreement
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors Managers may, at their option, at the time a Member is admitted, close the Company's books Company boos (as though the Company's Fiscal Year ’s tax year had ended) or make pro rata allocations of loss, income, and expense deductions to a new Member for that portion of the Company's Fiscal Year ’s tax year in which a Member was admitted in accordance with the provisions of IRC e Section 706(d) and the Treasury Regulations promulgated thereunder.. - 23 - ARTICLE XII
Appears in 1 contract
Sources: Operating Agreement
Financial Adjustments. No new Members shall be entitled to any retroactive allocation of losses, income, or expense deductions incurred by the Company. The Board of Directors may, at their option, at the time a Member is admitted, close the Company's Company books (as though the Company's Fiscal Year ’s tax year had ended) or make pro rata allocations of loss, income, loss and expense deductions to a new Member for that portion of the Company's Fiscal Year ’s tax year in which a Member was admitted in accordance with the provisions of IRC e 706(dCode Section 706(a) and the Treasury Regulations promulgated thereunder.
Appears in 1 contract