CAPITAL ACCOUNT ADJUSTMENTS AND TAX ALLOCATIONS. 1. For purposes of computing the amount of any item of income, gain, deduction or loss to be reflected in the Partners’ Capital Accounts, the determination, recognition and classification of any such item shall be the same as its determination, recognition and classification for federal income tax purposes; provided, however, that:
Appears in 7 contracts
Samples: Notice and Agreement (Stirling Hotels & Resorts, Inc.), Contribution Agreement (Ashford Hospitality Trust Inc), Ashford Hospitality Prime, Inc.
CAPITAL ACCOUNT ADJUSTMENTS AND TAX ALLOCATIONS. 1. For purposes of computing the amount of any item of income, gain, deduction or loss to be reflected in the PartnersMembers’ Capital Accounts, the determination, recognition and classification of any such item shall be the same as its determination, recognition and classification for federal income tax purposes; provided, however, that:
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Ashford Inc.), Limited Liability Company Agreement (Ashford Inc.), Limited Liability Company Agreement (Ashford Inc)
