Common use of Effective Date of Assignment Clause in Contracts

Effective Date of Assignment. Any valid assignment of a Member’s interest in the Company, or part thereof, pursuant to the provisions of Section 11.1 shall be effective as of the close of business on the last day of the calendar month in which the Board gives its written consent to such assignment, if required (or the last day of the calendar month in which such assignment occurs, if later). The Company shall, from the effective date of such assignment, thereafter pay all further distributions on account of the Company interest (or part thereof) so assigned, to the assignee of such interest, or part thereof. As between any Member and his assignee, Profits and Losses for the Fiscal Year of the Company in which such assignment occurs shall be apportioned for federal income tax purposes in accordance with any convention permitted under § 706(d) of the Code and selected by the Board.

Effective Date of Assignment. Any valid assignment of a Member’s interest in the Company, or part thereof, pursuant to the provisions of Section 11.1 13.1 hereof shall be effective as of the close of business on the last day of the calendar month in which the Board gives its other Members give their written consent to such assignment, if required assignment (or the last day of the calendar month in which such assignment occurs, if later). The Company shall, from the effective date of such assignment, thereafter pay all further distributions on account of the Company interest (or part thereof) so assigned, to the assignee of such interest, or part thereof. As between any Member and his its assignee, Profits and Losses for the Fiscal Year of the Company in which such assignment occurs shall be apportioned for federal income tax purposes in accordance with any convention permitted under § §706(d) of the Code and selected by the BoardManager.

Effective Date of Assignment. Any valid assignment of a Member’s interest in the CompanyInterest, or part thereof, pursuant to the provisions of Section 11.1 14.1 hereof shall be effective as of the close of business on the last day of the calendar month in which the Board gives its other Members give their written consent to such assignment, if required assignment (or the last day of the calendar month in which such assignment occurs, if later). The Company shall, from the effective date of such assignment, thereafter pay all further distributions on account of the Company interest Interest (or part thereof) ), so assigned, to the assignee of such interestInterest, or part thereof. As between any Member and his its assignee, Profits and Losses for the Fiscal Year of the Company in which such assignment occurs shall be apportioned for federal income tax purposes in accordance with any convention permitted under § §706(d) of the Code and selected by the BoardManagement Committee.