Allocation of Net Losses. All Net Losses shall be allocated in the following order of priority: 5.2.1 First, 100% to the Members, pro rata in accordance with their Percentage Interests until each Member’s Capital Account is reduced to zero. 5.2.2 The balance, if any, to the Managers in proportion with each Manager’s respective ownership Interest in the Company.
Appears in 6 contracts
Sources: LLC Operating Agreement (Opening Night Enterprises, LLC), LLC Operating Agreement (Opening Night Enterprises, LLC), LLC Operating Agreement (Opening Night Enterprises, LLC)
Allocation of Net Losses. All Net Losses shall be allocated in the following order of priority:: 5.
5.2.1 2.1 First, 100% to the Members, pro rata in accordance with their LLC Percentage Interests until each Member’s 's Capital Account is reduced to zero.
5.2.2 The balance, if any, to the Managers in proportion with each Manager’s respective ownership Interest in the Company.
Appears in 1 contract
Sources: Operating Agreement (Spring Break '83 Production, LLC)