Common use of DEEMED SALE OF ASSETS Clause in Contracts

DEEMED SALE OF ASSETS. For all purposes of this Agreement, (i) any property (other than United States dollars) that is distributed in-kind to one or more Members with respect to a Fiscal Period (including, without limitation, any such in kind property that is distributed upon the dissolution and winding up of the Company) shall be deemed to have been sold for cash equal to its Fair Market Value, (ii) the unrealized gain or loss inherent in such property shall be treated as recognized gain or loss for purposes of determining the Net Profit and Net Loss, (iii) such gain or loss shall be allocated pursuant to Sections 7.3 and 7.4 for such Fiscal Period and (iv) such in-kind distribution shall be made after giving effect to such allocation.

DEEMED SALE OF ASSETS. For all purposes of this Agreement, (i) any property (other than United States dollars) that is distributed in-in kind to one or more Members with respect to a Fiscal Period (including, without limitation, any such in kind property that is distributed upon the dissolution and winding up of the Company) shall be deemed to have been sold for cash equal to its Fair Market Valuefair market value, (ii) the unrealized gain or loss inherent in such property shall be treated as recognized gain or loss for purposes of determining the Net Profit and Net Loss, (iii) such gain or loss shall be allocated pursuant to Sections 7.3 and Section 7.4 for such Fiscal Period and (iv) such in-in kind distribution shall be made after giving effect to such allocation.

DEEMED SALE OF ASSETS. For all purposes of this Agreement, (i) any property (other than United States dollars) that is distributed in-kind to one or more Members Partners with respect to a Fiscal Period (including, without limitation, any such in kind property that is distributed upon the dissolution and winding up of the CompanyPartnership) shall be deemed to have been sold for cash equal to its Fair Market Value, (ii) the unrealized gain or loss inherent in such property shall be treated as recognized gain or loss for purposes of determining the Net Profit and Net Loss, (iii) such gain or loss shall be allocated pursuant to Sections 7.3 and 7.4 for such Fiscal Period and (iv) such in-kind distribution shall be made after giving effect to such allocation.

DEEMED SALE OF ASSETS. For all purposes of this Agreement, (i) any property (other than United States dollars) that is distributed in-in kind to one or more Members with respect to a Fiscal Period (including, without limitation, any such in kind property that is distributed upon the dissolution and winding up of the Company) shall be deemed to have been sold for cash equal to its Fair Market Valuefair market value, (ii) the unrealized gain or loss inherent in such property shall be treated as recognized gain or loss for purposes of determining the Net Profit and Net Loss, (iii) such gain or loss shall be allocated pursuant to Sections 7.3 and Section 7.4 for such Fiscal Period and (iv) such in-kind distribution shall be made after giving effect to such allocation.