Basis Adjustment. Upon the transfer of all or part of an interest in the Company, the Board may, in its reasonable discretion, cause the Company to elect, pursuant to Section 754 of the Code or the corresponding provisions of subsequent law, to adjust the basis of the Company properties as provided by Sections 734 and 743 of the Code.
Appears in 7 contracts
Samples: Limited Liability Company Agreement (Quintana Maritime LTD), Limited Liability Company Agreement (Quintana Maritime LTD), Limited Liability Company Agreement (Quintana Maritime LTD)
Basis Adjustment. Upon the transfer Transfer of all or part of an interest in Interest, at the Companyrequest of the transferee of the Interest, the Board of Managers may, in its reasonable sole discretion, cause the Company to elect, pursuant to Section section 754 of the Code or the corresponding provisions of subsequent law, to adjust the basis of the Company properties as provided by Sections sections 734 and 743 of the Code.
Appears in 5 contracts
Samples: Operating Agreement (Viking Energy Group, Inc.), Operating Agreement (Viking Energy Group, Inc.), Operating Agreement (Viking Energy Group, Inc.)
Basis Adjustment. Upon the transfer Transfer of all or part of an interest any Units in the Company, the Board of Directors may, in its reasonable discretiondiscretion consistent with the requirements of Section 8.3(b), cause the Company to elect, pursuant to Section 754 of the Code or the corresponding provisions of subsequent law, to adjust the basis of the Company properties as provided by Sections 734 and 743 of the Code.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Almost Family Inc), Equity Purchase Agreement (Almost Family Inc)
