INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any Gain on Disposition allocated to the Partners pursuant to Section 3.2, 3.3 or 3.4, such portion of the taxable income of the Partnership allocated pursuant to any such Section which is treated as ordinary income attributable to the recapture of depreciation shall, to the extent possible, be allocated among the Partners in the proportion which (i) the amount of depreciation previously allocated to each Partner bears to (ii) the total of such depreciation allocated to all Partners. This Section 3.5.1 shall not alter the amount of allocations among the Partners pursuant to Sections 3.2, 3.3 and 3.4, but merely the character of income so allocated.
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any taxable income of the Company allocated to the Members pursuant to this Article IV, such portion of the taxable income of the Company allocated pursuant to this Article IV which is treated as ordinary income attributable to the recapture of depreciation shall, to the extent possible, be allocated among the Members in the proportion which (i) the amount of depreciation previously allocated to each Member bears to (ii) the total of such depreciation allocated to all Members. This Section 4.6 shall not alter the amount of allocations among the Members pursuant to this Article IV, but merely the character of income so allocated.
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any Gain on Disposition allocated to the Members pursuant to Section 3.2, 3.3 or 3.4, such portion of the taxable income of the Company allocated pursuant to any such Section which is treated as ordinary income attributable to the recapture of depreciation shall, to the extent possible, be allocated among the Members in the proportion which (i) the amount of depreciation previously allocated to each Member bears to (ii) the total of such depreciation allocated to all Members. This Section 3.5.1 shall not alter the amount of allocations among the Members pursuant to Sections 3.2, 3.3 and 3.4, but merely the character of income so allocated.
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any Profit allocated to a Member, the portion of such Profit that is treated as ordinary income attributable to the recapture of depreciation, if any, shall be allocated among the Members in the proportion that the amount of depreciation, if any, previously allocated to each Member or the Member's predecessor relating to Company assets or property bears to the total of such depreciation allocated to all Members and their predecessors.
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any Gain on Disposition allocated to the Members pursuant to paragraph 9.3 or 9.4, such portion of the taxable income of the Company allocated pursuant to paragraph 9.3 which is treated as ordinary income attributable to the recapture of depreciation will, to the extent possible, be allocated among the Members in the proportion which (i) the amount of depreciation previously allocated to each Member bears to (ii) the total of such depreciation allocated to all Members. This paragraph 9.5
(a) will not alter the amount of allocations among the Members pursuant to paragraph 9.3 but merely the character of income so allocated.
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any taxable income of the Company allocated to the Members pursuant to this Section 5.2, such portion of the taxable income of the Company allocated pursuant to this Section 5.2 which is treated as ordinary income attributable to the recapture of depreciation shall, to the extent possible, be allocated among the Members in the proportion which (i) the amount of depreciation previously allocated to each member bears to (ii) the total of such depreciation allocated to all Members. This Section 5.2(B) shall not alter the amount of allocations among the Members pursuant to Section 5.1, but merely the character of income so allocated.
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any taxable income of the Venture allocated to the Venturers pursuant to this Article VII, such portion of the taxable income of the Venture allocated pursuant to this Article VII which is treated as ordinary income attributable to the recapture of depreciation shall, to the extent possible, be allocated among the Venturers in the proportion which (i) the amount of depreciation previously allocated to each Venturer bears to (ii) the total of such depreciation allocated to all Venturers. This paragraph 7.01(e) shall not alter the amount of allocations among the Venturers pursuant to this Article VII, but merely the character of income so allocated.
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any Net Income allocated to a Partner pursuant to this Paragraph 11.4, such portion of the Net Income allocated pursuant to this Paragraph 11.4 which is treated as (a) ordinary income attributable to the recapture of depreciation or (b) addition to tax attributable to the recapture of investment tax credits, respectively, shall be allocated among the Partners in the proportion which (i) the amount of depreciation or investment tax credit, respectively, previously allocated to each Partner relating to the Property which is the subject of the Sale or Disposition bears to (ii) the total of such depreciation or investment tax credit, respectively, allocated to all Partners. This Paragraph 11.4.5 shall not alter the amount of allocations among the Partners pursuant to Paragraph 11.4, but merely the character of gain so allocated. For purposes of determining the amount of depreciation or investment tax credits previously allocated to a Limited Partner, the depreciation and investment tax credits previously allocated to any prior owner of such Limited Partner's Units shall be deemed to have been allocated to such Limited Partner.
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any taxable income of the Company allocated to the Members pursuant to this Section 6.2, such portion of the taxable income of the Company allocated pursuant to this Section 6.2 which is treated as ordinary income attributable to the recapture of depreciation shall, to the extent possible, to be allocated among the Members in the proportion which (i) the amount of depreciation previously allocated to each Member bears to (ii) the total of such depreciation allocated to all Members. This
INCOME CHARACTERIZATION. For purposes of determining the character (as ordinary income or capital gain) of any Gain on Disposition allocated to the Venturers pursuant to Section 3.2, 3.3 or 3.4, such portion of the taxable income of the Venture allocated pursuant to any such Section which is treated as ordinary income attributable to the recapture of depreciation shall, to the extent possible, be allocated among the Venturers in the proportion which (i) the amount of depreciation previously allocated to each Venturer bears to (ii) the total of such depreciation allocated to all Venturers. This Section 3.5.1 shall not alter the amount of allocations among the Venturers pursuant to Sections 3.2, 3.3 and 3.4, but merely the character of income so allocated.
