Common use of Allocation of Tax Depreciation Clause in Contracts

Allocation of Tax Depreciation. Except to the extent required by Section 704(c) of the Code or the regulations promulgated thereunder, “Tax Depreciation” for each Fiscal Year of the Company (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable for Federal income tax purposes to the Company with respect to an item of property of the Company) shall be allocated to the Members in the same manner that Book Depreciation shall have been allocated to the Members pursuant to Section 2.1 of this Exhibit.

Appears in 3 contracts

Samples: Loan Termination Agreement, Operating Agreement (Thomas Properties Group Inc), Loan Termination Agreement (Thomas Properties Group Inc)

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Allocation of Tax Depreciation. Except to the extent required by Section 704(c) of the Code or the regulations promulgated thereunder, “Tax Depreciation” for each Fiscal Year fiscal year of the Company (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable for Federal federal income tax purposes to the Company with respect to an item of property of the CompanyCompany Property) shall be allocated to the Members in the same manner that Book Depreciation shall have been allocated to the Members pursuant to Section 2.1 of this Exhibit.

Appears in 1 contract

Samples: Operating Agreement (Thomas Properties Group Inc)

Allocation of Tax Depreciation. Except to the extent required by Section 704(c) of the Code or the regulations promulgated thereunder, “Tax Depreciation” for each Fiscal Year fiscal year of the Company (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable for Federal federal income tax purposes to the Company with respect to an item of property of the CompanyCompany Property) shall be allocated to the Members in the same manner that Book Depreciation shall have been allocated to the Members pursuant to Section 2.1 of this ExhibitAppendix.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Tejon Ranch Co)

Allocation of Tax Depreciation. Except to the extent required by Section 704(c) of the Code or the regulations promulgated thereunder, "Tax Depreciation" for each Fiscal Year fiscal year of the Company Partnership (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable for Federal federal income tax purposes to the Company Partnership with respect to an item of property of the CompanyPartnership Property) shall be allocated to the Members Partners in the same manner that Book Depreciation shall have been allocated to the Members Partners pursuant to Section 2.1 of this ExhibitExhibit "B".

Appears in 1 contract

Samples: Limited Partnership Agreement (Ridgewood Properties Inc)

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Allocation of Tax Depreciation. Except to the extent required by Section 704(c) of the Code or the regulations promulgated thereunder, "Tax Depreciation" for each Fiscal Year fiscal year of the Company (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable for Federal federal income tax purposes to the Company with respect to an item of property of the CompanyCompany Property) shall be allocated to the Members in the same manner that Book Depreciation shall have been allocated to the Members pursuant to Section 2.1 of this ExhibitEXHIBIT "D".

Appears in 1 contract

Samples: Limited Liability Company Agreement (Northstar Capital Investment Corp /Md/)

Allocation of Tax Depreciation. Except to the extent required by Section 704(c) of the Code or the regulations promulgated thereunder, “Tax Depreciation” for each Fiscal Year fiscal year of the Company (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable for Federal federal income tax purposes to the Company with respect to an item of property of the CompanyCompany property) shall be allocated to the Members in the same manner that Book Depreciation shall have been allocated to the Members pursuant to Section 2.1 of this ExhibitAppendix “A”.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Tejon Ranch Co)

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