Section 704(c) Allocation. It is the parties’ intent that the income, gain, loss, and deduction shall be determined and allocated among the Members in accordance with Section 704(c) and the regulations thereunder, at such time as there is a taxable event and the entirety of the assets of the Company are sold.
Appears in 2 contracts
Sources: Operating Agreement (ETX Park Fund #2, LLC), Investment Agreement (ETX Park Fund #2, LLC)