Contributed Property. Notwithstanding any other provision of this Operating Agreement, the Members shall cause Depreciation and or cost recovery deductions and gain or loss attributable to Property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managers.
Appears in 6 contracts
Samples: Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX)
Contributed Property. Notwithstanding any other provision of this Operating Agreement, the Members shall cause Depreciation depreciation and or cost recovery deductions and gain or loss attributable to Property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managersthereunder.
Appears in 6 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
Contributed Property. Notwithstanding any other provision of this Operating Agreement, the Members shall cause Depreciation depreciation and or cost recovery deductions and gain or loss attributable to Property property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managersthereunder.
Appears in 4 contracts
Samples: Operating Agreement, Operating Agreement (T Reit Inc), Operating Agreement (NNN 2002 Value Fund LLC)
Contributed Property. Notwithstanding any other provision of this Operating Agreement, the Members shall cause Depreciation and or and/or cost recovery deductions and gain or loss attributable to Property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managers.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX)
Contributed Property. Notwithstanding any other provision of this Operating Agreement, the Members shall cause Depreciation depreciation and or cost recovery deductions and gain or loss attributable to Property property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managersthereunder.
Appears in 2 contracts
Samples: Operating Agreement (Performance Capital Management LLC), Operating Agreement (Performance Capital Management LLC)
Contributed Property. Notwithstanding any other provision of this Operating Agreement, the Members shall cause Depreciation and or depreciation and/or cost recovery deductions and gain or loss attributable to Property property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managersthereunder.
Appears in 2 contracts
Samples: Operating Agreement, Limited Liability Company Agreement
Contributed Property. Notwithstanding any other provision of this Operating -------------------- Agreement, the Members shall cause Depreciation depreciation and or cost recovery deductions and gain or loss attributable to Property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managersthereunder.
Appears in 1 contract
Samples: Operating Agreement (T Reit Inc)
Contributed Property. Notwithstanding any other provision of this Operating Agreement, the Members shall cause Depreciation and or depreciation and/or cost recovery deductions deductions, and gain or loss attributable to Property property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managersthereunder.
Appears in 1 contract
Samples: Operating Agreement
Contributed Property. Notwithstanding any other provision of --------------------- this Operating Agreement, the Members shall cause Depreciation depreciation and or cost recovery deductions and gain or loss attributable to Property property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using the method selected by the Managersthereunder.
Appears in 1 contract
Samples: Operating Agreement (Performance Capital Management LLC)
Contributed Property. Notwithstanding any other provision of this Operating Agreement, the Members shall cause Depreciation and or depreciation and/or cost recovery deductions and gain or loss attributable to Property contributed by a Member or the Manager or revalued by the Company to be allocated among the Members or the Managers for income tax purposes in accordance with Section 704(c) of the Code and the Treasury Regulations promulgated thereunder using thereunder. The Board of Managers shall be entitled to select the appropriate method selected to account for the variation between the basis of Property and its fair market value at the time of the contribution by the Managersa Member.
Appears in 1 contract
Samples: Limited Liability Company Agreement