Profits/Losses Sample Clauses

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 Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

Profits/Losses. For accounting and tax purposes, net profits or net losses shall be determined on an annual basis. For tax purposes only, the Company shall be treated as a partnership.

Profits/Losses. For accounting and tax purposes, net profits or net losses shall be determined on an annual basis. Profits and losses will be distributed in proportion to each Member’s relative proportion of total capital in the Company, as set forth in Exhibit 1.

Profits/Losses. For accounting and tax purposes, the Company's net profits or net losses will be determined annually. As provided in Section 6.03, below, profits and losses will be allocated to the Members in proportion to each Member's economic interest in the Company as set forth in Exhibit 1 and in accordance with Treasury Regulation 1.704-1.

Profits/Losses. Pursuant to Section 18-503 of the Act, for accounting and tax purposes, the Company's net profits or net losses will be determined annually. As provided in Section 6.03, below, profits and losses will be allocated to the Member in accordance with Treasury Regulation 1.704-1.

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.

Profits/Losses. For accounting and tax purposes, the DAO's net profits or net losses will be determined annually. Pursuant to Section 00-00-000 of the Supplement, and as provided in Section 6.03, below, profits and losses will be allocated to the Members in proportion to each Member's economic interest in the DAO and in accordance with Treasury Regulation 1.704-1.

Profits/Losses. (a) Allocation of Income and Loss. (i) Net Profits shall be allocated among the Members in proportion to their Percentage Interests. (ii) Net Losses shall be allocated among the Members in proportion to their Percentage Interests. (iii) Whenever a proportionate part of the Net Profits or Net Losses is allocated to a Member, every item of income, gain, loss, deduction or credit entering into the computation of such Net Profits or Net Losses or arising from the transactions with respect to which such Net Profits or Net Losses were realized shall be credited or charged, as the case may be, to such Member in the same proportion; provided, however, that "recapture income", if any, shall be allocated to the Members who were allocated the corresponding depreciation deductions. (iv) If any Member Transfers all or any portion of its Membership Units during any Fiscal Year, Net Profits and Net Losses attributable to such transferred Membership Units for such Fiscal Year shall be apportioned between the transferor and the transferee or computed as to such Members on the basis of an interim closing of the books and records of the Company, provided in all events that any apportionment described above shall be permissible under the Code and applicable regulations thereunder. (b) Tax credits, if any, shall be allocated among the Members in proportion to their Percentage Interests. (c) When the Gross Asset Value of a Company asset differs from its basis for federal or other income tax purposes, solely for purposes of the relevant tax and not for purposes of computing Capital Account balances, income, gain, loss, deduction and credit with respect to such asset shall be allocated among the Members under the remedial allocation method under Treasury Regulation Section 1.704-3(d). The Members agree that, as of October 31, 1998, all such differences related to goodwill, and the corresponding remedial allocations shall be made ratably over a fifteen (15) year period.

Profits/Losses. Tax Credits, Distributions and Capital Accounts 59 10.1 Profits, Losses and Tax Credits..................... 59 10.2 Cash Distributions Prior to Dissolution............. 60 10.3

Profits/Losses. For financial accounting and tax purposes, the net profits or net losses that are generated by EPT operating EWC’s wxx.xxxxx.xxx platform shall be determined on an monthly basis and shall be allocated to the Parties in proportion to the following formula: In consideration of EWC provisioning the pxxxx.xxx platform and for making the above noted OCA, EWC shall receive 75% of the Net Patient Insurance Reimbursements (hereinafter “NPIR”) associated with EPT operating EWC’s wxx.xxxxx.xxx platform and EPT shall receive 25% of the net patient insurance reimbursements. NPIR is calculated to be gross reimbursements received by EPT though the use of EWC’s wxx.xxxxx.xxx platform, less any costs associated with operations related to the wxx.xxxxx.xxx platform by EPT. The initial NPIR payments to EWC will be for the partial or repayments any CAR advances. Once the wxx.xxxxx.xxx platform becomes cash flow positive, EPT will remit to EWC on the 1st of each month a net profit/loss statement and all NPIR fees that are due to EWC by EPT. EWC may elect to allow EPT to retain some operating funds in order to smooth out any cash flow needs by EPT to operate the wxx.xxxxx.xxx platform.