Common use of IPO Date Intangible Assets Clause in Contracts

IPO Date Intangible Assets. For purposes of this Agreement, as a result of an Exchange, Holdings shall be deemed to be entitled to a Basis Adjustment for each IPO Date Intangible Asset with respect to the Corporation calculated by reference to the sum of (x) the Amount Realized by the Exchanging Member in the Exchange, to the extent attributable to such IPO Date Intangible Asset, plus (y) the amount of payments made pursuant to this Agreement with respect to such Exchange, to the extent attributable to such IPO Date Intangible Asset. For purposes of this Agreement, in computing the effect of the Basis Adjustment on the Tax liability of the Corporation: 1. the actual basis adjustment to each IPO Date Intangible Asset under Section 732 or Section 743(b) of the Code shall be recovered by the Corporation in accordance with its actual recovery for purposes of the applicable Tax; and 2. the portion of the Basis Adjustment for each IPO Date Intangible Asset described in this Section 2.01(a) that exceeds the actual basis adjustment to such IPO Date Intangible Asset under Section 732 or Section 743(b) of the Code shall be deemed to be amortized by the Corporation on a straight-line basis over the 13 years following the Exchange.

IPO Date Intangible Assets. For purposes of this Agreement, as a result of an Exchange, Holdings DPA shall be deemed to be entitled to a Basis Adjustment for each IPO Date Intangible Asset with respect to the Corporation calculated by reference equal to the sum of (x) the Amount Realized by the Exchanging Member in the Exchange, to the extent attributable to such IPO Date Intangible Asset, plus (y) the amount of payments made pursuant to this Agreement with respect to such Exchange, to the extent attributable to such IPO Date Intangible Asset. For purposes of this Agreement, in computing the effect of the Basis Adjustment on the Tax liability of the Corporation: 1. the actual basis adjustment to each IPO Date Intangible Asset under Section 732 or Section 743(b) of the Code shall be recovered by the Corporation in accordance with its actual recovery for purposes of the applicable Tax; and; 2. the portion of the Basis Adjustment for each IPO Date Intangible Asset described in this Section 2.01(a) that exceeds the actual basis adjustment to such IPO Date Intangible Asset under Section 732 or Section 743(b) of the Code shall be deemed to be amortized by the Corporation on a straight-line basis over the 13 years following the Exchange; and 3. any actual depreciation, amortization or other recovery of cost or basis to the Corporation for the IPO Date Intangible Asset shall be disregarded.