Common use of Book/Tax Disparities; Section 754 Elections; etc Clause in Contracts

Book/Tax Disparities; Section 754 Elections; etc. (a) In the case of contributed property, items of income, gain, loss, deduction and credit, as determined for federal income tax purposes, shall be allocated in a manner consistent with the principles of Section 704(c) of the Code by using a method described in Treasury Regulation ss.1.704-3(d) selected by the Board of Directors, in its sole discretion, to take into account the difference between the agreed value of such property and its adjusted tax basis at the time of contribution or adjustment, as the case may be.

Book/Tax Disparities; Section 754 Elections; etc. (a) In the case of contributed propertyContributed Property, items of income, gain, loss, deduction and credit, as determined for federal income tax purposes, shall be allocated first in a manner consistent with the principles requirements of Section 704(c) of the Code by using a method described in Treasury Regulation ss.1.704-3(d) selected by the Board of Directors, in its sole discretion, to take into account the difference between the agreed value Agreed Value of such property and its adjusted tax basis at the time of contribution contribution, using the traditional method described in Section 1.703-3(b) of the Treasury Regulations or adjustment, such other method as shall be agreed upon by the case may beMembers.

Book/Tax Disparities; Section 754 Elections; etc. (a) In the case of contributed property, items of income, gain, loss, deduction and credit, as determined for federal income tax purposes, shall be allocated in a manner consistent with the principles of Section 704(c) of the Code by using a method described in Treasury Regulation ss.1.704Regulation§.1.704-3(d) selected by the Board of DirectorsManagers, in its sole discretion, to take into account the difference between the agreed value of such property and its adjusted tax basis at the time of contribution or adjustment, as the case may be.

Book/Tax Disparities; Section 754 Elections; etc. (a) In the case of Property contributed propertyto the Company, items of income, gain, loss, deduction deduction, and credit, as determined for federal income tax purposes, shall be allocated first in a manner consistent with the principles requirements of Section 704(c) of the Code by using a any method described in Treasury Regulation ss.1.704Section 1.704-3(d) 3 of the Regulations selected in good faith by the Board of Directors, in its sole discretion, Manager to take into account the difference between the agreed value Agreed Value of such property Property and its adjusted tax basis at the time of contribution or adjustment, as the case may becontribution.