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"r 3 . 4 . The Member shall not be bound by, or be personally liable for, the expenses , liabilities, or obligations of the Com an exce g p y pt as otherwise provided in the Act or in this Agreement . ARTICLE IV : ALLOCATIONS AND DISTRIBUTIONS 4 . 1 . The Profits and Losses of the Company and all items of Company income, gain, it shall be allocated, for Company book purposes and for tax purposes, to loss , deduction , or cred the Member . 4 . 2 . Any unrealized appreciation or unrealized depreciation in the values of Company property distributed in kind to the Member shall be deemed to be Profits or Losses realized by the Company immediately prior to the distribution of thero e p p rty, and such Profits or Losses shall be allocated to the Member's Capital Account . Any property so distributed shall be treated as a distribution to the Member to the extent of the Fair Market Value of the property less ' the amount of any liability secured by and related to the property . Nothing in this Agreement is intended to treat or cause such distributions to be treated as sales for value . For the purposes of this Section 4 . 2 , " unrealized appreciation " or " unrealized depreciation " shall mean the difference between the Fair Market Value of such property and the Company' s basis for such property . 4 . 3 . In the case of a Transfer of all or any portion of the Member ' s Interest during any fiscal year, the Member and Assignee shall each be allocated the Economic Interest's share of Profits or Losses based on the number of days each held the Economic Interest during that fiscal year. 4 . 4 . All cash resulting from the normal business operations of the Company and from a Capital Event shall be distributed to the Member at such times as the Member deems appropriate . ARTICLE V : MANAGEMENT 5 . 1 . The business of the Company shall be managed by the Member (or if additional Members are subsequently admitted to the Company, then by a Majority of the Members) . 5 . 2 . The Company may have a President, a Secretary and/or a Treasurer who may , but need not, be a Member. The Member may provide for additional officers of the Company tind may specify the powers , duties , and compensation of the officers . 5 . 3 . All assets of the Company , whether real or personal , shall be held in the name of the Company. 5 . 4 . All funds of the Company shall be deposited in one or more accounts with one or more recognized financial institutions in the name of the Company, at such locations as shall be determined by the Member . Withdrawal from such accounts shall require the signature of such person or persons as the Member may designate . 4