Common use of Gross Asset Value Adjustment Clause in Contracts

Gross Asset Value Adjustment. If the Gross Asset Value of any Company asset is adjusted as the result of an adjustment as described in subsection (b) or (d) of the definition of "Gross Asset Value," subsequent allocations of income, gain, loss, and deduction as to such asset shall, for tax purposes, be made so as to eliminate as quickly as possible any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as pursuant to Code Section 704(c) and the Regulations thereunder.

Gross Asset Value Adjustment. If the Gross Asset Value of any Company Partnership asset is adjusted as the result of an adjustment as described in subsection (bii) or (div) of the definition of "Gross Asset Value," subsequent allocations of income, gain, loss, and deduction as to such asset shall, for tax purposes, be made so as to eliminate as quickly as possible any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as pursuant to Code Section 704(c) and the Regulations thereunder.

Gross Asset Value Adjustment. If the Gross Asset Value of any Company Partnership asset is adjusted as the result of an adjustment as described in subsection (bii) or (div) of the definition of "“Gross Asset Value," ” subsequent allocations of income, gain, loss, and deduction as to such asset shall, for tax purposes, be made so as to eliminate as quickly as possible any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as pursuant to Code Section 704(c) and the Regulations thereunder.