Excess Nonrecourse Liabilities. For each Allocation Period, the “excess nonrecourse liabilities” of the Company (within the meaning of Treasury Regulations § 1.752-3(a)(3)) shall be allocated in accordance with their respective Percentage Interests or such other permitted manner as may be determined by the Board of Managers.
Appears in 5 contracts
Sources: Operating Agreement (Columbia Care MD LLC), Operating Agreement (Columbia Care MD LLC), Operating Agreement (Launch Pad LLC)
Excess Nonrecourse Liabilities. For each Allocation Period, the “excess nonrecourse liabilities” of the Company (within the meaning of Treasury Regulations § §1.752-3(a)(3)) shall be allocated in accordance with their respective Percentage Interests or such other permitted manner as may be determined by the Board of Managers.
Appears in 2 contracts
Sources: Operating Agreement (Launch Pad LLC), Operating Agreement (Launch Pad LLC)
Excess Nonrecourse Liabilities. For each Allocation Period, the Any “excess nonrecourse liabilities” of the Company (within the meaning of Treasury Regulations § 1.752-3(a)(3)) shall be allocated among the Members in accordance with proportion to their respective Percentage Interests or such other permitted manner as may be determined by the Board of ManagersInterests.
Appears in 1 contract
Sources: Operating Agreement (Owens Mortgage Investment Fund a Calif LTD Partnership)
Excess Nonrecourse Liabilities. For each Allocation Period, the The “excess nonrecourse liabilities” of the Company (within the meaning of Treasury Regulations § Section 1.752-3(a)(3)) shall be allocated among the Members in accordance with their respective Percentage Interests or in such other permitted manner as may be determined by the Board of ManagersManager.
Appears in 1 contract
Sources: Limited Liability Company Agreement