Depreciation Recapture. To the maximum extent permitted by the Code, income realized by the Fund in the nature of recapture of depreciation or other cost recovery allowances (other than of Non-recourse Deductions or Shareholder Non-recourse Deductions) shall be allocated to Shareholders in the same proportions as depreciation allowances were allocated to them.
Appears in 6 contracts
Sources: LLC Operating Agreement (Ridgewood Energy v Fund LLC), LLC Operating Agreement (Ridgewood Energy T Fund LLC), LLC Operating Agreement (Ridgewood Energy O Fund LLC)
Depreciation Recapture. To the maximum extent permitted by the Code, income realized by the Fund in the nature of recapture of depreciation or other cost recovery allowances (other than of Non-recourse Deductions or Shareholder Non-recourse Deductions) shall be allocated to Shareholders in the same proportions as depreciation allowances were allocated to themthem pursuant to Section 4.3(a).
Appears in 6 contracts
Sources: LLC Operating Agreement (Ridgewood Energy M Fund LLC), LLC Operating Agreement (Ridgewood Energy L Fund LLC), LLC Operating Agreement (Ridgewood Enengy K Fund LLC)
Depreciation Recapture. To the maximum extent permitted by the Code, income realized by the Fund in the nature of recapture of depreciation or other cost recovery allowances (other than of Non-recourse Deductions or of Shareholder Non-recourse Deductions) shall be allocated to Shareholders in the same proportions as depreciation allowances were allocated to them.
Appears in 1 contract
Sources: LLC Operating Agreement (Ridgewood Energy P Fund LLC)