Adjustment of Basis of Assets. In case of a transfer of all or part of the Interest of any Member, the LLC may elect, pursuant to code Sections 734, 743, and 754 of the Code to adjust the basis of the assets of the LLC.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Tsecrp Inc), Limited Liability Company Operating Agreement (G&l Realty Corp), Company Operating Agreement (Kennedy Wilson Inc)
Adjustment of Basis of Assets. In case of a transfer of all or part of the Interest of any the Member, the LLC may elect, pursuant to code Sections 734, 743, and 754 of the Code to adjust the basis of the assets of the LLC.
Appears in 2 contracts
Samples: Company Agreement (Citi TeeVee LLC), Company Agreement (Citi TeeVee LLC)
