Adjustment to Book Values of Assets. In the event the Book Values of Partnership assets are adjusted pursuant to Treasury Regulations Section 1.704-1(b), the Capital Accounts of the Partners shall be adjusted simultaneously to reflect the allocations of gain or loss that would be made to the Partners if there were a taxable disposition of the Partnership’s property for its fair market value.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Mobile Mini Finance, LLC), Limited Partnership Agreement (Mobile Mini Inc), Limited Partnership Agreement (Mobile Storage Group Inc)
Adjustment to Book Values of Assets. In the event the Book Values book values of Partnership Company assets are adjusted pursuant to Treasury Regulations Section 1.704-1(bl(b), the Capital Accounts of the Partners Members shall be adjusted simultaneously to reflect the allocations of gain or loss that would be made to the Partners Members if there were a taxable disposition of the PartnershipCompany’s property for its fair market value.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement (KW Victory Land Loan, LLC)
Adjustment to Book Values of Assets. In the event the Book Values book values of Partnership Company assets are adjusted pursuant to Treasury Regulations Section 1.704-1(b), the Capital Accounts of the Partners Members shall be adjusted simultaneously to reflect the allocations of gain or loss that would be made to the Partners Members if there were a taxable disposition of the PartnershipCompany’s property for its fair market value.
Appears in 1 contract
Samples: Operating Agreement (Kennedy-Wilson Properties (IL))
