Allocation Provisions definition
Examples of Allocation Provisions in a sentence
Any gain or loss on disposition of any Company assets in Liquidation (including any distribution in kind) will be allocated to Members, and credited or charged to Capital Accounts, in accordance with the Tax Allocation Provisions.
In any action in which the Escrow Agent asserts that one or more of MAXXAM, the CMRT or NL are jointly and severally liable for the obligations of MAXXAM, the CMRT or NL to the Escrow Agent under this Agreement, the Escrow Agent shall join in such suit all of MAXXAM, the CMRT and NL as a prerequisite for recovery against any one of them, and MAXXAM, the CMRT and NL agree to contribute to any other party against which such recovery is made in the proportions specified in the Allocation Provisions.
LLC Operations 6.5.3 Allocation of Profit - Sale of LLC Assets 6.6 Other Tax Allocation Provisions 6.6.1 Minimum Gain; Chargebacks 6.
Special Allocation Provisions - Deferral Contributions, matching Contributions and Qualified Nonelective Contributions .
The Allocation Provisions are deemed modified, with effect from the date of this Agreement, to the extent necessary to comply with the Fractions Rule.
Tax Matters 18 Other Allocation Provisions 18 Article VI BOOKS AND RECORDS; REPORTS19 Books and Records 19 Article VII ORDINARY SHARES, VOTING SHARES AND OTHER UNITS19 Units 19 Certificates 20 Register 20 Registered Members 20 Article VIII FORFEITURE OF INTERESTS; TRANSFER RESTRICTIONS20 Member Transfers 20 .
A detailed discussion of these rules is set forth in ▇▇▇▇▇▇▇▇▇▇, Deciphering Tax Allocation Provisions, supra.
Modification of Allocation Provisions to Meet Minimum Contribution Requirements...............
Without limiting the foregoing, any allocation for a particular year pursuant to the Allocation Provisions which would violate the requirements of Code Sections 704(b) and 514(c)(9)(E) shall not be made, and there shall instead be made (i) allocations generally provided herein as directed and reasonably approved by the Members and (ii) any adjustments pursuant to Section 3(c)(x).
Except as otherwise provided in the Special Allocation Provisions if any, set forth in EXHIBIT "C" all taxable income, loss or capital gains or losses, or any other item reportable by the LLC for tax purposes shall be allocated in the Ownership Interest Percentages set forth in Section 4.2 (subject to any special allocation provisions herein) and EXHIBIT "B" as they may change from time to time.