Common use of Contributed Property Clause in Contracts

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder, income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Value.

Appears in 6 contracts

Sources: Operating Agreement (Bequest Bonds I Inc), Operating Agreement (Bequest Bonds I Inc), Operating Agreement (Bequest Bonds I Inc)

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder, incomeIncome, gain, loss and deduction deduction, as computed for the purpose of determining taxable income, with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal Federal income tax purposes and its initial Gross Asset ValueValue in accordance with Code Section 704(c) and the Regulations thereunder.

Appears in 4 contracts

Sources: Operating Agreement (MacKenzie Realty Capital, Inc.), Limited Liability Company Agreement (MacKenzie Realty Capital, Inc.), Operating Agreement (MacKenzie Realty Capital, Inc.)

Contributed Property. In accordance with Code IRC Section 704(c) and the Treasury Regulations thereunderRegulations, income, gain, loss loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset ValueValue (computed in accordance with subparagraph 1.2.2.1 of this Exhibit "A").

Appears in 4 contracts

Sources: Operating Agreement (Salem Communications Corp /De/), Operating Agreement (Salem Communications Corp /De/), Operating Agreement (Salem Communications Corp /De/)

Contributed Property. In accordance with Code Section §704(c) of the Code and the Treasury Regulations thereunder, income, gain, loss loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Book Value.

Appears in 2 contracts

Sources: Operating Agreement (Hallmark Financial Services Inc), Operating Agreement (Hallmark Financial Services Inc)

Contributed Property. In accordance with Code Section 704(c) For income tax purposes, and not for the Treasury Regulations thereunderpurposes of Capital Account maintenance, income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, by a Member shall be allocated among the Members so as to take account required by Section 704(c) of any variation between the adjusted basis of such property to the Company for federal income tax purposes Code and its initial Gross Asset ValueTreasury Regulations thereunder.

Appears in 2 contracts

Sources: Operating Agreement, Operating Agreement (Magellan Petroleum Corp /De/)

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder), income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, shall be allocated among the Members Members, solely for federal income tax purposes, so as to take account of any variation between the adjusted basis of such the property to the Company for federal income tax purposes and its the initial Gross Asset ValueValue of the property as of the date of the Capital Contribution of the property to the Company in a manner consistent with Code Section 704(c) and Regulations Section 1.704-3(c).

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Global Eagle Entertainment Inc.), Limited Liability Company Agreement (Global Eagle Entertainment Inc.)

Contributed Property. In accordance with Code Section the rules of IRC § 704(c) and the Treasury Regulations promulgated thereunder, items of income, gain, loss loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Valuefair market value at the time of contribution.

Appears in 2 contracts

Sources: Limited Liability Company Agreement (TCH Coal Co), Operating Agreement (Sunwin International Neutraceuticals, Inc.)

Contributed Property. In accordance with Code Section (S) 704(c) of the -------------------- Code and the Treasury Regulations thereunder, income, gain, loss loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Book Value.

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Pacific Aerospace & Electronics Inc), Limited Liability Company Agreement (Pacific Aerospace & Electronics Inc)

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder, income, gain, loss and deduction with respect to any property contributed to the capital of the Company shallassets shall be, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property asset to the Company for federal income tax purposes and its initial Gross Asset Value.

Appears in 2 contracts

Sources: Operating Agreement (Xspand Products Lab, Inc.), Operating Agreement (Xspand Products Lab, Inc.)

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder, income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members in any permissible manner so as that a contributing Member, to take account of any variation the maximum extent possible, recognizes the variation, if any, between the adjusted basis of such property to Adjusted Basis and the Company for federal income tax purposes and its initial Gross Asset ValueValue of the property contributed by that Member.

Appears in 1 contract

Sources: Joint Venture Agreement (Biolabs Inc)

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder, income, gain, loss and deduction with respect to any property contributed to the capital of the Company shallassets shall be, solely for tax purposes, be allocated among the Common Members so as to take account of any variation between the adjusted basis of such property asset to the Company for federal income tax purposes and its initial Gross Asset Value.

Appears in 1 contract

Sources: Operating Agreement (Vinco Ventures, Inc.)

Contributed Property. In accordance with Code Section -------------------- 704(c) and the Treasury Regulations thereunder, income, gain, loss loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Valueagreed fair market value.

Appears in 1 contract

Sources: Operating Agreement (Image Entertainment Inc)

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder, incomeIncome, gain, loss and deduction deductions with respect to any property contributed to the capital of the Company shall, solely for federal income tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Valuefair market value at time of contribution in accordance with Code Section 704(c) and the Treasury Regulations thereunder.

Appears in 1 contract

Sources: Operating Agreement

Contributed Property. In accordance with ss.704(c) of the Code Section 704(c) and the Treasury Regulations thereunder, income, gain, loss loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Book Value.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Cross Media Marketing Corp)

Contributed Property. In accordance with Code Section the rules of JRC § 704(c) and the Treasury Regulations promulgated thereunder, items of income, gain, loss loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Valuefair market value at the time of contribution.

Appears in 1 contract

Sources: Operating Agreement (Cinergy Corp)

Contributed Property. In accordance with Code Section the rules of IRC (S) 704(c) -------------------- and the Treasury Regulations promulgated thereunder, items of income, gain, loss loss, and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Valuefair market value at the time of contribution.

Appears in 1 contract

Sources: Operating Agreement (Princess Beverly Coal Holding Co Inc)

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder, income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Valuefair market value at the time of its contribution to the Company.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Black Amber Florida, Inc.)

Contributed Property. In accordance with Code Section 704(c) and the Treasury Regulations thereunder, items of income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members using the traditional method described in Treasury Regulations Section 1.704-3(b) so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its initial Gross Asset Valuefair market value on the date of contribution (as determined by the contributing Member and the Company, and subject to the Contribution Agreement).

Appears in 1 contract

Sources: Limited Liability Company Agreement (Central Credit, LLC)

Contributed Property. In accordance with Code Section 704(c) and -------------------- the Treasury Regulations thereunder, income, gain, loss and deduction with respect to any property contributed to the capital of the Company shallwill, solely for tax purposes, be allocated among between the Members so as to take account of any variation between the adjusted basis of such the property to the Company for federal income tax purposes and its initial Gross Asset Book Value.

Appears in 1 contract

Sources: Operating Agreement (Callaway Golf Co /Ca)