Common use of Nonrecourse Deduction Clause in Contracts

Nonrecourse Deduction. Notwithstanding Section 6.1, any nonrecourse deductions (as defined in Regulations Section 1.704-2(b)(1)) for any Fiscal Year or other period shall be specially allocated to the Members in proportion to their Percentage Interests.

Appears in 3 contracts

Sources: Operating Agreement (Atwood Minerals & Mining CORP.), Operating Agreement (Atwood Minerals & Mining CORP.), Operating Agreement (Global Resource CORP)

Nonrecourse Deduction. Notwithstanding Section 6.1, any --------------------- nonrecourse deductions (as defined in Regulations Section 1.704-2(b)(1)) for any Fiscal Year or other period shall be specially allocated to the Members in proportion to their Percentage Interests.

Appears in 1 contract

Sources: Operating Agreement (CPC of America Inc)

Nonrecourse Deduction. Notwithstanding Section 6.1, any nonrecourse deductions (as defined in Regulations Section 1.704-2(b)(1)) for any Fiscal Year or other period shall be specially allocated to the Members in proportion to their Percentage Interests.

Appears in 1 contract

Sources: Limited Liability Company Operating Agreement

Nonrecourse Deduction. Notwithstanding Section 6.17.1, any nonrecourse deductions (as defined in Regulations Section 1.704-2(b)(1)) Nonrecourse Deductions for any Fiscal Year or other period shall be specially allocated to the Members in proportion to their Percentage Interests.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Versity Invest, LLC)