Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors using any permissible method under Code Section 706 and the Regulations thereunder. (b) The Unit Holders are aware of the income tax consequences of the allocations made by this Article 5 and hereby agree to be bound by the provisions of this Article 5 in reporting their shares of Company income and loss for income tax purposes. (c) Solely for purposes of determining a Unit Holder's proportionate share of the "excess nonrecourse liabilities" of the Company within the meaning of Regulations Section 1.752-3(a) (3), the Unit Holders' interests in Company profits are in proportion to their Units held. To the extent permitted by Section 1.704-2(h) (3) of the Regulations, the Company shall endeavor to treat distributions as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit Holder.
Appears in 4 contracts
Sources: Operating Agreement (Minnesota Corn Processors LLC), Operating Agreement (Minnesota Corn Processors LLC), Operating Agreement (Minnesota Corn Processors LLC)
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors Members using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders Members are aware of the income tax consequences of the allocations made by Section 3 of the Agreement and this Article 5 Appendix B and hereby agree to be bound by the such provisions of this Article 5 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit HolderMember's proportionate share of the "excess nonrecourse liabilities" of the Company within the meaning of Regulations Section 1.752-3(a) (3), the Unit HoldersMembers' interests in Company profits are in proportion to their Units held. Debt Percentages.
(d) To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company shall endeavor to treat any distributions as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Member Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember.
Appears in 4 contracts
Sources: Operating Agreement (Finova Group Inc), Operating Agreement (Finova Group Inc), Operating Agreement (Finova Group Inc)
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, Profits and Losses or any other items allocable to any period, Profits, Losses, and any other such other items shall be determined on a daily, monthly, monthly or other basis, as determined by the Board of Directors Company using any method permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders Members are aware of the income tax consequences of the allocations made by this Article 5 4 and hereby agree to be bound by the provisions of this Article 5 4 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit HolderMember's proportionate share of the "excess nonrecourse liabilities" of the Company within the meaning of Regulations Section 1.752-3(a) (33(a)(3), the Unit HoldersMembers' interests in Company profits are in proportion to their Units held. Percentage Interests.
(d) To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company Manager shall endeavor to treat distributions as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Member Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember.
Appears in 2 contracts
Sources: Operating Agreement (Macquarie Infrastructure CO Trust), Operating Agreement (Macquarie Infrastructure CO Trust)
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, Profits and Losses or any other items allocable to any period, Profits, Losses, and any other such other items shall be determined on a daily, monthly, monthly or other basis, as determined by the Board of Directors Company using any method permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders Members are aware of the income tax consequences of the allocations made by this Article 5 4 and hereby agree to be bound by the provisions of this Article 5 4 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit Holder's Member’s proportionate share of the "“excess nonrecourse liabilities" ” of the Company within the meaning of Regulations Section 1.752-3(a) (33(a)(3), the Unit Holders' Members’ interests in Company profits are in proportion to their Units held. Percentage Interests.
(d) To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company Manager shall endeavor to treat distributions as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Member Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember.
Appears in 1 contract
Sources: Operating Agreement (Macquarie Infrastructure CO LLC)
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders are aware of the income tax consequences of the allocations made by this Article 5 Section 3 and hereby agree to be bound by the provisions of this Article 5 Section 3 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit Holder's proportionate share of the "excess nonrecourse liabilities" of the Company within the meaning of Regulations Section 1.752-3(a) (31.752- 3(a)(3), the Unit Holders' aggregate interests in Company profits are shall be deemed to be as provided in proportion to their Units heldthe capital accounts. To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company Directors shall endeavor to treat distributions of Net Cash Flow as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit Holder.that
Appears in 1 contract
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors Manager using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders Members are aware of the income tax consequences of the allocations made by this Article 5 6 and hereby agree to be bound by the provisions of this Article 5 6 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit Holder's Member’s proportionate share of the "“excess nonrecourse liabilities" ” of the Company within the meaning of Regulations Section 1.752-3(a3(a)(3) (3)of the Regulations, the Unit Holders' Members’ interests in Company profits Profits are in proportion to their Units held. Percentage Interests.
(d) To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company Manager shall endeavor to treat distributions of Net Cash Flow as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Member Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember.
Appears in 1 contract
Other Allocation Rules.
(a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders are aware of the income tax consequences of the allocations made by this Article 5 Section 3 and hereby agree to be bound by the provisions of this Article 5 Section 3 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit Holder's ’s proportionate share of the "“excess nonrecourse liabilities" ” of the Company within the meaning of Regulations Section 1.752-3(a) (3), the Class A Unit Holders' ’ and the Class A-1 Unit Holders’ aggregate interests in Company profits are shall be deemed to be as provided in proportion to their Units heldthe capital accounts. To the extent permitted by Section 1.704-2(h) (3) of the Regulations, the Company Directors shall endeavor to treat distributions of Net Cash Flow as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit Holder.
Appears in 1 contract
Sources: Operating Agreement
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors Management Committee using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders Members are aware of the income tax consequences of the allocations made by this Article 5 III and hereby agree to be bound by the provisions of this Article 5 III in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit Holder's Member’s proportionate share of the "“excess nonrecourse liabilities" ” of the Company within the meaning of Regulations Section 1.752-3(a) (33(a)(3), the Unit Holders' Members’ interests in Company profits are in proportion to their Units held. Percentage Interests.
(d) To the extent permitted by Regulations Section 1.704-2(h) (3) of the Regulations2(h)(3), the Company Manager shall endeavor to treat distributions of Net Cash Flow as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Member Nonrecourse Debt only to the extent that such distributions would not cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember.
Appears in 1 contract
Sources: Operating Agreement
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors Members using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders Members are aware of the income tax consequences of the allocations made by Section 3 of the Agreement and this Article 5 Appendix B and hereby agree to be bound by the such provisions of this Article 5 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit HolderMember's proportionate share of the "excess nonrecourse liabilities" of the Company within the meaning of Regulations Section 1.752-3(a) (3), the Unit HoldersMembers' interests in Company profits are in proportion to their Units held. Debt Percentages.
(d) To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company shall endeavor to treat any distributions as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Member Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember.
Appears in 1 contract
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders are aware of the income tax consequences of the allocations made by this Article 5 Section 3 and hereby agree to be bound by the provisions of this Article 5 Section 3 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit Holder's ’s proportionate share of the "“excess nonrecourse liabilities" ” of the Company within the meaning of Regulations Section 1.752-3(a) (33(a)(3), the Unit Holders' ’ aggregate interests in Company profits are shall be deemed to be as provided in proportion to their Units heldthe capital accounts. To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company shall endeavor to treat distributions as having been made from the proceeds the
(d) Allocations of a Nonrecourse Liability or a Unit Holder Nonrecourse Debt only Profits and Losses to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit Holders shall be allocated among them in the ratio which each Unit Holder’s Units bears to the total number of Units issued and outstanding.
Appears in 1 contract
Sources: Operating Agreement (Northwest Iowa Renewable Energy LLC)
Other Allocation Rules. (a) The Members are aware of the income tax consequences of the allocations made by this Article V and hereby agree to be bound by the provisions of this Article V in reporting their shares of Company income and loss for income tax purposes.
(b) For purposes of determining the Profitsprofits, Losseslosses, or any other items allocable to any period, Profitsprofits, Losseslosses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors Members using any permissible method under Code Section 706 and the Regulations promulgated thereunder.
(b) The Unit Holders are aware of the income tax consequences of the allocations made by this Article 5 and hereby agree to be bound by the provisions of this Article 5 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for the purposes of determining a Unit HolderMember's proportionate share of the "excess nonrecourse liabilities" of the Company within the meaning of Regulations Section 1.752-3(a) (33(a)(3), the Unit Holders' Member's interests in the Company profits are in proportion to their Units held. Percentage Interests.
(d) To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company Members shall endeavor not to treat distributions of cash as having been made from the proceeds of a Nonrecourse Liability nonrecourse liability or a Unit Holder Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember nonrecourse debt.
Appears in 1 contract
Sources: Operating Agreement
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any other such other items shall be determined on a daily, monthly, or other basis, as determined by the Board of Directors Company using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders Members are aware of the income tax consequences of the allocations made by this Article 5 4 and hereby agree to be bound by the provisions of this Article 5 4 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit HolderMember's proportionate share of the "excess nonrecourse liabilities" of the Company within the meaning of Regulations Section 1.752-3(a) (33(a)(3), the Unit HoldersMembers' interests in Company profits are in proportion to their Units heldPercentage Interests. To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company Manager shall endeavor to treat distributions as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Member Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember.
Appears in 1 contract
Sources: Operating Agreement (Macquarie Infrastructure Assets Trust)
Other Allocation Rules. (a) For purposes of determining the Profits, Losses, or any other items allocable to any period, Profits, Losses, and any such other items shall be determined on a daily, monthly, or other basis, as determined by the Management Board of Directors using any permissible method under Code Section 706 and the Regulations thereunder.
(b) The Unit Holders Members are aware of the income tax consequences of the allocations made by this Article 5 4 and hereby agree to be bound by the provisions of this Article 5 4 in reporting their shares of Company income and loss for income tax purposes.
(c) Solely for purposes of determining a Unit HolderMember's proportionate share of the "excess nonrecourse liabilities" of the Company within the meaning of Regulations Section 1.752-3(a) (33(a)(3), the Unit HoldersMembers' interests in Company profits are in proportion to their Units heldPercentage Interests. To the extent permitted by Section 1.704-2(h) (32(h)(3) of the Regulations, the Company Management Board shall endeavor to treat distributions of Net Cash Flow as having been made from the proceeds of a Nonrecourse Liability or a Unit Holder Member Nonrecourse Debt only to the extent that such distributions would cause or increase an Adjusted Capital Account Deficit for any Unit HolderMember.
Appears in 1 contract