Common use of Profits and Losses Clause in Contracts

Profits and Losses. Unless otherwise required by the Code, all Profits, Losses and items thereof for each fiscal year of the Company shall be allocated to the Member in full, disregarding the Company as a separate entity for federal income tax purposes.

Appears in 61 contracts

Samples: Operating Agreement (Environtech Inc.), Operating Agreement (Environtech Inc.), Operating Agreement (Environtech Inc.)

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Profits and Losses. Unless otherwise required by the CodeAct, all Profits, Losses and items thereof for each fiscal year of the Company shall be allocated to the Member in full, disregarding the Company as a separate entity for federal income tax purposes.

Appears in 1 contract

Samples: Operating Agreement (Environtech Inc.)

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