Common use of Book Value Clause in Contracts

Book Value. As used in this Agreement, the term "Book Value" of any item of Partnership property as of any particular date shall be determined as follows: (a) the Book Value of any item of property contributed by a Partner to the capital of the Partnership shall be the agreed-upon gross fair market value of such item of property as of the date such property was contributed to the Partnership, as adjusted for depreciation, depletion, cost recovery and amortization deductions with respect to such property computed in the manner provided in Section 4.01(a) above; and (b) the Book Value of any other item of Partnership property shall be its adjusted basis for Federal income taxation purposes.

Book Value. As used in this Agreement, the term "Book Value" of any item of Partnership Company property as of any particular date shall be determined as follows: : (a) the Book Value of any item of property contributed by a Partner Member to the capital of the Partnership Company shall be the agreed-upon gross fair market value of such item of property as of the date such property was contributed to the PartnershipCompany, as adjusted for depreciation, depletion, cost recovery and amortization deductions with respect to such property computed in the manner provided in Section 4.01(a) 4.01 above; and (b) the Book Value of any other item of Partnership Company property shall be its adjusted basis for Federal income taxation purposes.

Book Value. As used in this Agreement, the term "Book Value" ------------- ---------- of any item of Partnership property as of any particular date shall be determined as follows: (a) the Book Value of any item of property contributed by a Partner to the capital of the Partnership shall be the agreed-upon gross fair market value of such item of property as of the date such property was contributed to the Partnership, as adjusted for depreciation, depletion, cost recovery and amortization deductions with respect to such property computed in the manner provided in Section 4.01(a) above; and (b) the Book Value of any other item of Partnership property shall be its adjusted basis for Federal income taxation purposes.