Allocation of Net Income or Net Loss. Except as otherwise provided in this Article VI, the Net Income or Net Loss, other items of income, gains, losses, deductions and credits, and the taxable income, gains, losses, deductions and credits of the LLC, if any, for each Fiscal Year (or portion thereof) shall be allocated to the Members in proportion to their Percentage Interests.
Appears in 2 contracts
Sources: Limited Liability Company Agreement (Wyle Electronics), Limited Liability Company Agreement (Marshall Industries)