Depreciation Recapture. Subject to the provisions of Code §704(c) and Sections 7.1.2 – 7.1.4, inclusive of this Agreement, gain recognized (or deemed recognized under the provisions hereof) upon the sale or other disposition of Company property, which is subject to depreciation recapture, shall be allocated to the Member who was entitled to deduct such depreciation.
Appears in 4 contracts
Sources: Operating Agreement (Conversion Housing Fund 1, LLC), Operating Agreement (Spark Fund One LLC), Operating Agreement (Spark Fund One LLC)
Depreciation Recapture. Subject to the provisions of Section 704€ of the Code §704(c) and Sections 7.1.2 8.1.2 – 7.1.48.1.4, inclusive inclusive, of this Agreement, gain recognized (or deemed recognized under the provisions hereof) upon the sale or other disposition of Company property, which is subject to depreciation recapture, shall be allocated to the Member who was entitled to deduct such depreciation.
Appears in 4 contracts
Sources: Operating Agreement (Brookwood Fenton Investments LLC), Operating Agreement (Brookwood Fenton Investments LLC), Operating Agreement (Brookwood Fenton Investments LLC)
Depreciation Recapture. Subject to the provisions of Code §Section 704(c) of the Code and Sections 7.1.2 – 7.1.4, inclusive of this Agreement, gain recognized (or deemed recognized under the provisions hereof) upon the sale or other disposition of Company property, which is subject to depreciation recapture, shall be allocated to the Member who was entitled to deduct such depreciation.
Appears in 2 contracts
Sources: Operating Agreement (NextPlay Technologies Inc.), Operating Agreement (Monaker Group, Inc.)
Depreciation Recapture. Subject to the provisions of Code §Section 704(c) of the Code and Sections 7.1.2 – 7.1.4Subsection 9.1.2, inclusive Subsection 9.1.3, and Subsection 9.1.4, inclusive, of this Agreement, gain recognized (or deemed recognized under the provisions hereof) upon the sale or other disposition of Company property, which is subject to depreciation recapture, shall be allocated to the Member who was entitled to deduct such depreciation.
Appears in 2 contracts
Sources: Operating Agreement (Benchmark Real Estate Investment Fund, LLC), Operating Agreement (Benchmark Real Estate Investment Fund, LLC)
Depreciation Recapture. Subject to the provisions of Code §Section 704(c) of the Code and Sections 7.1.2 8.1.2 – 7.1.48.1.4, inclusive inclusive, of this Agreement, gain recognized (or deemed recognized under the provisions hereof) upon the sale or other disposition of Company property, which is subject to depreciation recapture, shall be allocated to the Member who was entitled to deduct such depreciation.
Appears in 1 contract
Sources: Operating Agreement (Real Street Build-to-Rent Fund I, LLC)
Depreciation Recapture. Subject to the provisions of Code §Section 704(c) of the Code and Sections 7.1.2 Section 7.01(b) – 7.1.4Section 7.01(d), inclusive of this Agreement, gain recognized (or deemed recognized under the provisions hereof) upon the sale or other disposition of Company property, which is subject to depreciation recapture, shall be allocated to the Member who was entitled to deduct such depreciation.
Appears in 1 contract
Sources: Operating Agreement