Adjusted Book Value. “Adjusted Book Value” with respect to any Company property means the adjusted basis of such property for federal income tax purposes unless such property has been contributed to the Company in which event it shall mean the fair market value of such property at the date of contribution minus all Depreciation taken with respect to such property.
Appears in 4 contracts
Samples: Limited Liability Company Agreement, Operating Agreement (Rex Energy Corp), Operating Agreement (Rex Energy Corp)
