Common use of Determination of Book Items Clause in Contracts

Determination of Book Items. Consistent with the provisions of Section 1.704-1(b)(2)(iv)(g)(3) of the Income Tax Regulations: (1) “Book Depreciation” (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable to the Company with respect to an item of property of the Company, determined in the manner hereinafter set forth) for each item of property of the Company shall be the amount that bears the same relationship to the “Adjusted Book Basis” (which means, with respect to an item of property of the Company, the Book Basis of such item as the same may be adjusted from time to time by Book Depreciation allowable with respect to such item of property of the Company) of such item of property of the Company as the Tax Depreciation (as defined in Section 2.3A of this Exhibit) with respect to such item of property of the Company for such year bears to the “adjusted basis” (within the meaning of Section 1011(a) of the Internal Revenue Code of 1986, as amended [the “Code”]) of such item of property of the Company; and (2) “Book Gain or Loss” shall be the gain or loss recognized by the Company from the sale or other disposition of property of the Company (such gain or loss determined by reference to the Adjusted Book Basis, and not the adjusted tax basis, of such property to the Company). If an item of property of the Company shall have an “adjusted basis” (as defined in the preceding sentence) equal to zero, Book Depreciation shall be determined under a reasonable method, which method shall be selected by the Manager.

Determination of Book Items. Consistent with the provisions of Section 1.704-1(b)(2)(iv)(g)(3) of the Income Tax Regulations: (1) “"Book Depreciation” " (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable to the Company with respect to an item of property of the CompanyCompany Property, determined in the manner hereinafter set forth) for each item of property of the Company Property shall be the amount that bears the same relationship to the “"Adjusted Book Basis” " (which means, with respect to an item of property of the CompanyCompany Property, the Book Basis of such item as the same may be adjusted from time to time by Book Depreciation allowable with respect to such item of property of the CompanyCompany Property) of such item of property of the Company Property as the Tax Depreciation (as defined in Section 2.3A of this Exhibit2.3A) with respect to such item of property of the Company Property for such year bears to the “"adjusted basis” " (within the meaning of Section 1011(a) of the Internal Revenue Code of 1986, as amended [the “"Code”]") of such item of property of the CompanyCompany Property; and (2) “"Book Gain or Loss” " shall be the gain or loss recognized by the Company from the sale or other disposition of property of the Company Property (such gain or loss determined by reference to the Adjusted Book Basis, and not the adjusted tax basis, of such property to the Company). If an item of property of the Company Property shall have an “"adjusted basis” " (as defined in the preceding sentence) equal to zeroZero, Book Depreciation shall be determined under a reasonable method, which method shall be selected by the ManagerCompany.

Determination of Book Items. Consistent with the provisions of Section 1.704-1(b)(2)(iv)(g)(3) of the Income Tax Regulations: (1i) “"Book Depreciation” " (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable to the Company Partnership with respect to an item of property of the CompanyPartnership Property, determined in the manner hereinafter set forth) for each item of property of the Company Partnership Property shall be the amount that bears the same relationship to the “"Adjusted Book Basis” " (which means, with respect to an item of property of the CompanyPartnership Property, the Book Basis of such item as the same may be adjusted from time to time by Book Depreciation allowable with respect to such item of property of the CompanyPartnership Property) of such item of property of the Company Partnership Property as the Tax Depreciation (as defined in Section 2.3A of this Exhibit2.3A) with respect to such item of property of the Company Partnership Property for such year bears to the “"adjusted basis” " (within the meaning of Section 1011(a) of the Internal Revenue Code of 1986, as amended [the “"Code”"]) of such item of property of the CompanyPartnership Property; and (2ii) “"Book Gain or Loss” " shall be the gain or loss recognized by the Company Partnership from the sale or other disposition of property of the Company Partnership Property (such gain or loss determined by reference to the Adjusted Book Basis, and not the adjusted tax basis, of such property to the CompanyPartnership). If an item of property of the Company Partnership Property shall have an “"adjusted basis” " (as defined in the preceding sentence) equal to zero, Book Depreciation shall be determined under a reasonable method, which method shall be selected by the ManagerPartnership.

Determination of Book Items. Consistent with the provisions of Section 1.704-1(b)(2)(iv)(g)(31.704‑1(b)(2)(iv)(g)(3) of the Income Tax Regulations: (1) “Book Depreciation” (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable to the Company with respect to an item of property of the Company, determined in the manner hereinafter set forth) for each item of property of the Company shall be the amount that bears the same relationship to the “Adjusted Book Basis” (which means, with respect to an item of property of the Company, the Book Basis of such item as the same may be adjusted from time to time by Book Depreciation allowable with respect to such item of property of the Company) of such item of property of the Company as the Tax Depreciation (as defined in Section 2.3A of this Exhibit) with respect to such item of property of the Company for such year bears to the “adjusted basis” (within the meaning of Section 1011(a) of the Internal Revenue Code of 1986, as amended [the “Code”]) of such item of property of the Company; and (2) “Book Gain or Loss” shall be the gain or loss recognized by the Company from the sale or other disposition of property of the Company (such gain or loss determined by reference to the Adjusted Book Basis, and not the adjusted tax basis, of such property to the Company). If an item of property of the Company shall have an “adjusted basis” (as defined in the preceding sentence) equal to zero, Book Depreciation shall be determined under a reasonable method, which method shall be selected recommended by the ManagerManager subject to the approval of the Management Committee.

Determination of Book Items. Consistent with the provisions of Section 1.704-1(b)(2)(iv)(g)(3) of the Income Tax Regulations: (1) “Book Depreciation” (which means the depreciation, depletion or amortization deduction or allowance that shall be allowable to the Company with respect to an item of property of the CompanyCompany Property, determined in the manner hereinafter set forth) for each item of property of the Company shall be the amount that bears the same relationship to the “Adjusted Book Basis” (which means, with respect to an item of property of the CompanyCompany Property, the Book Basis of such item as the same may be adjusted from time to time by Book Depreciation allowable with respect to such item of property of the CompanyCompany Property) of such item of property of the Company as the Tax Depreciation (as defined in Section 2.3A of this Exhibit) with respect to such item of property of the Company for such year bears to the “adjusted basis” (within the meaning of Section 1011(a) of the Internal Revenue Code of 1986, as amended [the “Code”]) of such item of property of the CompanyCompany Property; and (2) “Book Gain or Loss” shall be the gain or loss recognized by the Company from the sale or other disposition of property of the Company (such Company(such gain or loss determined by reference to the Adjusted Book Basis, and not the adjusted tax basis, of such property to the Company). If an item of property of the Company shall have an “adjusted basis” (as defined in the preceding sentence) equal to zero, Book Depreciation shall be determined under a reasonable method, which method shall be selected by the ManagerManagement Committee.