Mandatory Distributions. Promptly upon receipt of any tax distributions from the Fund, the Managing Members shall distribute such tax distributions to the Members in proportion to their interests in the taxable income of the Company for the period to which such distributions relate.
Appears in 3 contracts
Sources: Operational Agreement (Gray Fox Petroleum Corp.), Limited Liability Company Operating Agreement (E Trade Group Inc), Operating Agreement (E Trade Group Inc)
Mandatory Distributions. Promptly upon receipt of any tax distributions from the FundCompany, the Managing Members shall distribute such tax distributions to the Members in proportion to their interests in the taxable income of the Company for the period to which such distributions relate.
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