Depreciation Allocations Sample Clauses

The Depreciation Allocations clause defines how the depreciation of assets will be distributed among relevant parties, typically in a partnership or joint venture context. It specifies the method and schedule for allocating depreciation expenses, often based on ownership percentages or agreed-upon formulas, and may address different asset classes or tax considerations. This clause ensures that each party receives an appropriate share of depreciation benefits or deductions, promoting fairness and clarity in financial reporting and tax filings.
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Depreciation Allocations. For income tax purposes, pursuant to Section 704(c) of the Code and the Treasury Regulations promulgated thereunder, depreciation, cost recovery and amortization deductions shall be allocated to the Partners as set forth in this Section 7.7.(B) in order to take into account any difference between (x) the Asset Value (as adjusted pursuant to the proviso in Section 7.1.(C)) of the assets on the date the assets are contributed to the Partnership or on any date on which the Capital Accounts are adjusted pursuant to Section 7.1.(C) and (y) the Partnership's adjusted tax basis in the assets on each such date. The foregoing allocation shall be implemented through the following provisions:
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Depreciation Allocations. All Members shall share any depreciation according to their Sharing Ratios. However, notwithstanding anything to the contrary, in the event a Member is unable to take depreciation due to vehicle of investment or for some other reason, such allotted depreciation to said Member shall be reverted to the Class M Member.
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Depreciation Allocations. All Partners shall share any depreciation according to their Sharing Ratios. However, notwithstanding anything to the contrary, in the event a Partner is unable to take depreciation due to vehicle of investment or for some other reason, such allotted depreciation to said Partner shall be reverted to the Class M Partners.
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Related to Depreciation Allocations

  • Tax Allocations Each item of income, gain, loss or deduction recognized by the Company shall be allocated among the Members for U.S. federal, state and local income tax purposes in the same manner that each such item is allocated to the Member’s Capital Accounts pursuant to Section 3.2(d) or as otherwise provided herein, provided that the Board may adjust such allocations as long as such adjusted allocations have substantial economic effect or are in accordance with the interests of the Members in the Company, in each case within the meaning of the Code and the Treasury Regulations. Tax credits and tax credit recapture shall be allocated in accordance with the Members’ interests in the Company as provided in Treasury Regulations section 1.704-1(b)(4)(ii). Items of Company taxable income, gain, loss and deduction with respect to any property (other than cash) contributed to the capital of the Company or revalued shall, solely for tax purposes, be allocated among the Members, as determined by the Board in accordance with Section 704(c) of the Code, so as to take account of any variation between the adjusted basis of such property to the Company for U.S. federal income tax purposes and its fair market value at the time of contribution or revaluation, as the case may be. All of the Members agree that the Board is authorized to select the method or convention, or to treat an item as an extraordinary item, in relation to any variation of any Member’s interest in the Company described in section 1.706-4 of the Treasury Regulations in determining the Members’ distributive shares of Company items. All matters concerning allocations for U.S. federal, state and local and non-U.S. income tax purposes, including accounting procedures, not expressly provided for by the terms of this Agreement shall be determined by the Board in its sole discretion. Each Class B Ordinary Share is intended to be treated as a profits interest for U.S. federal income tax purposes, and all of the Members agree to report consistently with, and to take any action requested by the Board to ensure, such treatment.