Time of Allocation Clause Samples
The "Time of Allocation" clause defines the specific point at which rights, responsibilities, or resources are assigned between parties under an agreement. Typically, this clause clarifies whether allocation occurs at contract signing, upon delivery of goods or services, or at another milestone, ensuring all parties understand when their obligations or entitlements begin. By establishing a clear moment for allocation, the clause helps prevent disputes over timing and ensures that each party knows when they are accountable for their respective duties or benefits.
Time of Allocation. All allocations of Profits and Losses made pursuant to SECTION 5.1 shall be made as of the last day of each fiscal year of the LLC; PROVIDED, HOWEVER, that if during any fiscal year of the LLC or any portion thereof there is for any reason a change in any Member's Percentage Interest in the LLC, the Profits and Losses for such year shall be allocated among the Members based upon the number of days during such period that such Member was the owner of such interest or in such other manner as the Manager deems appropriate in accordance with the requirements of the Code and of Treasury Regulations issued pursuant thereto.
Time of Allocation. 8 5.3 DISTRIBUTIONS OF CASH; AMOUNTS...................................9 5.4 LIMITATIONS ON DISTRIBUTIONS.....................................9 5.5 AMOUNTS WITHHELD.................................................9 5.6 TAX ALLOCATIONS; SECTION 704(C) OF THE CODE.....................10
Time of Allocation. The allocations set forth above shall be made as of the end of each Fiscal Year. All items of income, gain, loss and deduction shall be allocated, for federal income tax purposes, among the Members in the same manner as such items are allocated pursuant to Sections 8.1 and 8.2.
Time of Allocation. 16 Section 6.3
Time of Allocation. In each Plan Year in which an Eligible Employee does not, pursuant to the Eligible Employee's election, receive payment of a portion of Base Salary which is payable to him in such Plan Year (which Base Salary deferral is based on the Eligible Employee’s election, made in the preceding Plan Year, to defer the payment of any Base Salary the Eligible Employee might earn for such Plan Year), the Base Salary Deferral Units and Matching Units required to be allocated to the Eligible Employee’s Account shall be allocated to the Eligible Employee’s Account as of the last day of each calendar quarter during the Plan Year with respect to which the Eligible Employee has elected to defer a portion of his Base Salary. In each Plan Year in which an Eligible Employee does not, pursuant to the Eligible Employee's election, receive payment of the amount of the Bonus which is payable to him in such Plan Year (which Bonus deferral is based on the Eligible Employee’s election to defer the payment of any Bonus the Eligible Employee might earn for services performed in such preceding Plan Year), the Bonus Deferral Units and Matching Units required to be allocated to the Eligible Employee’s Account shall be allocated to the Eligible Employee’s Account as of the date Eligible Employee would have been paid the portion of his Bonus (attributable to services performed in the preceding Plan Year) which he has elected to defer. In each Plan Year in which an Eligible Director defers any portion of the Director Fees which are payable to him in such Plan Year (which Director Fee deferral is based on the Eligible Director’s election, made in the preceding Plan Year), the Director Fee Deferral Units required to be allocated to the Eligible Director’s Account shall be allocated to the Eligible Director’s Account as of the date provided for in the Deferred Director Fee Election Form and, if the Eligible Director has elected to defer any portion of his Retainer ▇▇▇, Matching Units attributable to the Eligible Director’s deferral of a portion of his Retainer Fee shall be allocated to the Eligible Director’s Account on the date provided for in the Deferred Director Fee Election Form.
Time of Allocation. Allocations of Profit and Loss and items of gross income shall be made to the Capital Accounts of the Shareholders on at least an annual basis, at the time of any sale of the assets of the Company not in the ordinary course of the business of the Company, at the time that the Gross Asset Values of the Company are adjusted pursuant to clause (b) of the definition of Gross Asset Value hereof, and at such other times as the Board shall determine. For purposes of determining the Profits, Losses, items of gross income, or any other items allocable to any period, Profits, Losses, items of gross income, and any such other items will be determined by the Company on a daily, monthly, or other basis, using any permissible method under Code Section 706 and the Treasury Regulations thereunder.
Time of Allocation. 12 5.3 DISTRIBUTIONS...........................................................................................12 5.4 WITHHOLDING.............................................................................................14
Time of Allocation. The allocations in Section 5.1 shall be made as of the end of each Fiscal Year of the Company, and any other date the Board of Managers believes is necessary to correctly reflect the economic relations of the Board of Managers. The Board of Managers shall use reasonable efforts to determine and allocate all Profits and all Losses of the Company with respect to each Fiscal Year within 90 days after the end of each Fiscal Year.