Gains or Losses Clause Samples
Gains or Losses. During liquidation, any gain or loss on the disposition of the Company’s property shall be credited or charged to the Members and the Interest Holders in accordance with the terms and provisions of ARTICLE X of this Operating Agreement. Any property distributed in kind in liquidation shall be valued and treated as if the property were sold for its fair market value and the cash proceeds distributed. The difference between the value of the property distributed in kind and its book value to the Company shall be treated as a gain or loss on the sale of the property to be allocated between the Members and the Interest Holders in accordance with ARTICLE X of this Operating Agreement.
Gains or Losses. In Process of Liquidation Any gain or loss on disposition of Partnership properties in the process of liquidation shall be credited or charged to the Partners in the percentages set forth in this Agreement. Any property distributed in kind in the liquidation shall be valued and treated as though the property were sold and the cash proceeds were distributed. The difference between the value of property distributed in kind and its book value shall be treated as a gain or loss on sale of the property and shall be credited or charged to the Partners in the percentages set forth in this Agreement.
Gains or Losses. During liquidation, any gain or loss on the disposition of the Company's property shall be credited or charged to the Members in accordance with the provisions of Article
Gains or Losses. In Process of LiquidationAny gain or loss on disposition of Partnership properties in the process of liquidation shall be credited or charged to the Partners in the percentages set forth in § 6.2 of ARTICLE 6. Any property distributed in kind in the liquidation shall be valued and treated as though the property were sold and the cash proceeds were distributed. The difference between the value of property distributed in kind and its book value shall be treated as a gain or loss on sale of the property and shall be credited or charged to the Partners in the percentages set forth in § 6.2 of ARTICLE 6. The Partnership items described in this Section shall be allocated pursuant to § 704(c) of the Code to the extent applicable, as provided in § 5.1 of this Agreement.Section
Gains or Losses. Except as otherwise elected in the Adoption Agreement or as provided in Section 4.10 with respect to Participant Directed Accounts, as of each Valuation Date, before allocation of any Employer contributions and Forfeitures, any earnings or losses (net appreciation or net depreciation) of the Trust Fund (exclusive of assets segregated for distribution) shall be allocated in the same proportion that each Participant's nonsegregated accounts bear to the total of all Participants' nonsegregated accounts as of such date. Unless otherwise specified in the Adoption Agreement, the nonsegregated account will be reduced by any distributions made prior to the Valuation Date.