Common use of PROFITS/LOSSES Clause in Contracts

PROFITS/LOSSES. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Exhibit 3 as amended from time to time in accordance with Treasury Regulation 1.704­1.

PROFITS/LOSSES. For financial accounting and tax purposes, purposes the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Exhibit 3 as amended from time to time in accordance with Treasury Regulation 1.704­1time.

PROFITS/LOSSES. For financial accounting and tax purposes, purposes the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Exhibit 3 2 as amended from time to time in accordance with Treasury Regulation 1.704­11.704‐1.