Common use of Involuntary Conversion Clause in Contracts

Involuntary Conversion. Notwithstanding any contrary provision of this Agreement, upon the compulsory or involuntary conversion of all or any part of the Property consistent with Code Section 1033(a), if and to the extent determined by the Manager in its sole discretion, the Company shall not distribute the net proceeds thereof to the Members, but instead shall reinvest the net proceeds in such a manner as to avoid recognition (for federal income tax purposes) of part or all of the gain on such conversion.