Common use of Depreciation Method Clause in Contracts

Depreciation Method. Xxxx-Xxxx, as the general partner of MCRLP, covenants and agrees that MCRLP and its affiliates will use the "traditional method with curative allocations" (as defined in Treasury Regulations Section 1.704-3(c)) of allocating income, gain, loss and deduction to account for the variation between the fair market value and adjusted basis of the Property for federal income tax purposes with respect to (i) the contribution of the Property, and (ii) any revaluation of the Property in accordance with the provisions of Treasury Regulations Sections 1.704-1(b)(2)(iv)(f), 1.704-1(b)(2)(iv)(g) and 1.704-3(a)(6).

Depreciation Method. Xxxx-Xxxx, as the general partner of MCRLP, covenants and agrees that MCRLP and its affiliates will use the "traditional method with curative allocations" (as defined in Treasury Regulations Section 1.704-3(c)) of allocating income, gain, loss and deduction to account for the variation between the fair market value and adjusted basis of the Property for federal income tax purposes with respect to (i) the contribution of the Property, and (ii) any revaluation of the Property in accordance with the provisions of Treasury Regulations Sections 1.704-1(b)(2)(iv)(f), 1.704-1.704- 1(b)(2)(iv)(g) and 1.704-3(a)(6).