Common use of Code § 754 Adjustment Clause in Contracts

Code § 754 Adjustment. To the extent an adjustment to the adjusted tax basis of any Fund asset pursuant to Code §734(b) or Code §743(b) is required, pursuant to Treasury Regulations §1.704-1(b)(2)(iv)(m)(2) or §1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Member in complete liquidation of its interest in the Fund, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Members in accordance with their Units in the Fund in the event Treasury Regulation §1.704-1(b)(2)(iv)(m)(2) applies, or to the Members to whom such distribution was made in the event Treasury Regulation §1.704-1(b)(2)(iv)(m)(4) applies.

Code § 754 Adjustment. To the extent an adjustment to the adjusted tax basis of any Fund asset Company property pursuant to Code §§ 734(b) or Code §§ 743(b) is required, pursuant to Treasury Regulations §§ 1.704-1(b)(2)(iv)(m)(2) or §§ 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Member in complete liquidation of its interest in the FundCompany, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the assetproperty) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Members in accordance with proportion to their Units in Percentage Interests at the Fund time of such allocation in the event Treasury Regulation §Regulations § 1.704-1(b)(2)(iv)(m)(2) applies, or to the Members to whom such distribution was made in the event Treasury Regulation §Regulations § 1.704-1(b)(2)(iv)(m)(4) applies.

Code § 754 Adjustment. To the extent an adjustment to the adjusted tax basis of any Fund Company asset pursuant to Code §§ 734(b) or Code §§ 743(b) is required, pursuant to Treasury Regulations §§ 1.704-1(b)(2)(iv)(m)(2) or §Regulations § 1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Member in complete liquidation of its such Member’s interest in the FundCompany, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Members in accordance with their Units interests in the Fund Company in the event Treasury Regulation §Regulations § 1.704-1(b)(2)(iv)(m)(2) applies, or to the Members Member to whom such distribution was made in the event Treasury Regulation §1.704-1(b)(2)(iv)(m)(4Regulations § 1.7041(b)(2)(iv)(m)(4) applies.

Code § 754 Adjustment. To the extent an adjustment to the adjusted tax basis of any Fund Company asset pursuant to Code §§ 734(b) or Code §§ 743(b) is required, pursuant to Treasury Regulations §§ 1.704-1(b)(2)(iv)(m)(2) or §Regulations § 1.704-1(b)(2)(iv)(m)(41 (b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a distribution to a Member in complete liquidation of its such Member’s interest in the FundCompany, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Members in accordance with their Units interests in the Fund Company in the event Treasury Regulation §Regulations § 1.704-1(b)(2)(iv)(m)(2) applies, or to the Members Member to whom such distribution was made in the event Treasury Regulation §Regulations § 1.704-1(b)(2)(iv)(m)(41 (b)(2)(iv)(m)(4) applies.. SECONDED AMENDED AND RESTATED OPERATING AGREEMENT OF FRONT RANGE ENERGY, LLC