Common use of Priority Allocations Clause in Contracts

Priority Allocations. If the amount of cash or the Net Agreed Value of any property distributed (except cash or property distributed or deemed distributed pursuant to Section 5.4(a) of this Agreement with respect to Class B Units or Privately Placed Units, or Section 10.3 of this Agreement) to any holder of Class B Units with respect to its Class B Units for a taxable year is greater (on a per Class B Unit basis) than the amount of cash or the Net Agreed Value of property distributed to the Unitholders with respect to their Units (on a per Unit basis), then each holder of Class B Units receiving such greater cash or property distribution shall be allocated gross income in an amount equal to the product of (a) the amount by which the distribution (on a per Class B Unit basis) to such holder of Class B Units exceeds the distribution (on a per Unit basis) to the Unitholders and (b) the number of Class B Units owned by the holder of Class B Units. 10. Article VI of the Limited Liability Company Agreement is hereby amended to add a new Section 6.1(d)(xii) as follows:

Priority Allocations. If the amount of cash or the Net Agreed Value of any property distributed (except cash or property distributed or deemed distributed pursuant to Section 5.4(a) of this Agreement with respect to Class B C Units or Privately Placed Units, or Section 10.3 of this Agreement) to any holder of Class B C Units with respect to its Class B C Units for a taxable year is greater (on a per Class B C Unit basis) than the amount of cash or the Net Agreed Value of property distributed to the Unitholders with respect to their Units (on a per Unit basis), then each holder of Class B C Units receiving such greater cash or property distribution shall be allocated gross income in an amount equal to the product of (a) the amount by which the distribution (on a per Class B C Unit basis) to such holder of Class B C Units exceeds the distribution (on a per Unit basis) to the Unitholders and (b) the number of Class B C Units owned by the holder of Class B C Units. 10. Article VI of the Limited Liability Company Agreement is hereby amended to add a new Section 6.1(d)(xii) as follows:

Priority Allocations. If the amount of cash or the Net Agreed Value of any property distributed (except cash or property distributed or deemed distributed pursuant to Section 5.4(a) of this Agreement with respect to Class B D Units or Privately Placed Units, or Section 10.3 of this Agreement) to any holder of Class B D Units with respect to its Class B D Units for a taxable year is greater (on a per Class B D Unit basis) than the amount of cash or the Net Agreed Value of property distributed to the Unitholders with respect to their Units (on a per Unit basis), then each holder of Class B D Units receiving such greater cash or property distribution shall be allocated gross income in an amount equal to the product of (a) the amount by which the distribution (on a per Class B D Unit basis) to such holder of Class B D Units exceeds the distribution (on a per Unit basis) to the Unitholders and (b) the number of Class B D Units owned by the holder of Class B D Units. 10. Article VI of the Limited Liability Company Agreement is hereby amended to add a new Section 6.1(d)(xii) as follows: