Common use of Timing and Amount of Allocations of Net Income and Net Loss Clause in Contracts

Timing and Amount of Allocations of Net Income and Net Loss. The rules set forth below in Sections 5.03(b) and (c) shall apply for the purpose of determining each Member’s allocable share of the items of income, gain, loss and expense of the Company comprising Net Income or Net Loss of the Company for each fiscal year (or as of the end of such other period or periods as circumstances otherwise require or allow), determining special allocations of other items of income, gain, loss and expense, and adjusting the balance of each Member’s Capital Account to reflect the aforementioned general and special allocations. For each fiscal year, the Regulatory Allocations in Section 5.03(c) shall be made immediately prior to the general allocations of Section 5.03(b).

Timing and Amount of Allocations of Net Income and Net Loss. The rules set forth below in this Sections 5.03(b5.3(b) and (c5.3(c) shall apply for the purpose of determining each Member’s allocable share of the items of income, gain, loss and expense of the Company comprising Net Income or Net Loss of the Company for each fiscal year (or as of the end of such other period or periods as circumstances otherwise require or allow), determining special allocations of other items of income, gain, loss and expense, and adjusting the balance of each Member’s Capital Account to reflect the aforementioned general and special allocations. For each fiscal year, the Regulatory Allocations in Section 5.03(c5.3(c) shall be made immediately prior to the general allocations of Section 5.03(b5.3(b).