Common use of Recapture Gain Clause in Contracts

Recapture Gain. If any portion of gain recognized from the disposition of an asset by the Partnership represents the "recapture" of previously allocated deductions by virtue of the application of Code Section 1245 or 1250 ("RECAPTURE GAIN"), such Recapture Gain, solely for income tax purposes, shall be allocated as follows: FIRST, to the Partners, PRO RATA, in proportion to the lesser of each Partner's (i) allocable share of the total gain recognized from the disposition of such asset and (ii) share of depreciation or amortization with respect to such asset (under Regulations Sections 1.1245-1(e)(2) and (3)), until each such Partner has been allocated Recapture Gain equal to such lesser amount; and SECOND, the balance of Recapture Gain will be allocated among the Partners whose allocable shares of total gain exceed their shares of depreciation or amortization with respect to such asset (under Regulations Sections 1.1245-1(e)(2) and (3)), in proportion to their shares of total gain (including Recapture Gain) from the disposition of such asset; PROVIDED, however, that no Partner will be allocated Recapture Gain under this Section 3.2 in excess of the total gain allocated to such Partner from such disposition.

Recapture Gain. If any portion of gain recognized from the disposition of an asset property by the Partnership represents the "recapture" of previously allocated deductions by virtue of the application of Code Section 1245 or 1250 ("RECAPTURE GAINRecapture Gain"), such Recapture Gain, solely for income tax purposes, shall Gain will be allocated as follows: FIRSTFirst, to the Partners, PRO RATApro rata, in proportion to the lesser of each Partner's (i) allocable share of the total gain recognized from the disposition of such asset Partnership property and (ii) share of depreciation or amortization with respect to such asset property (as determined under Regulations Sections 1.1245-1(e)(2) and (3)), until each such Partner has been allocated Recapture Gain equal to such lesser amount; and SECONDSecond, the balance of Recapture Gain will be allocated among the Partners whose allocable shares of total gain exceed their shares of depreciation or amortization with respect to such asset property (as determined under Regulations Sections Section 1.1245-1(e)(2) and (3)), in proportion to their shares of total gain (including Recapture Gain) from the disposition of such assetproperty; PROVIDEDprovided, however, that no Partner will be allocated Recapture Gain under this Section 3.2 6.7.D in excess of the total gain allocated to such Partner from such disposition.

Recapture Gain. If any portion of gain recognized from the disposition of an asset property by the Partnership represents the "“recapture" ” of previously allocated deductions by virtue of the application of Code Section 1245 or 1250 ("RECAPTURE GAIN"“Recapture Gain”), such Recapture Gain, solely for income tax purposes, shall Gain will be allocated as follows: FIRSTFirst, to the Partners, PRO RATApro rata, in proportion to the lesser of each Partner's ’s (i) allocable share of the total gain recognized from the disposition of such asset Partnership property and (ii) share of depreciation or amortization with respect to such asset property (as determined under Regulations Sections 1.1245-1(e)(2) and (3)), until each such Partner has been allocated Recapture Gain equal to such lesser amount; and SECONDSecond, the balance of Recapture Gain will be allocated among the Partners whose allocable shares of total gain exceed their shares of depreciation or amortization with respect to such asset property (as determined under Regulations Sections Section 1.1245-1(e)(2) and (3)), in proportion to their shares of total gain (including Recapture Gain) from the disposition of such assetproperty; PROVIDEDprovided, however, that no Partner will be allocated Recapture Gain under this Section 3.2 6.7.D in excess of the total gain allocated to such Partner from such disposition.

Recapture Gain. If any portion of gain recognized from the disposition of an asset by the Partnership represents the "recapture" of previously allocated deductions by virtue of the application of Code Section 1245 or 1250 ("RECAPTURE GAINRecapture Gain"), such Recapture Gain, solely for income tax purposes, shall be allocated as follows: FIRSTfirst, to the Partners, PRO RATApro rata, in proportion to the lesser of each Partner's (i) allocable share of the total gain recognized from the disposition of such asset and (ii) share of depreciation or amortization with respect to such asset (under Regulations Sections 1.1245-1(e)(2) and (3)), until each such Partner has been allocated Recapture Gain equal to such lesser amount; and SECONDsecond, the balance of Recapture Gain will be allocated among the Partners whose allocable shares of total gain exceed their shares of depreciation or amortization with respect to such asset (under Regulations Sections 1.1245-1(e)(2) and (3)), in proportion to their shares of total gain (including Recapture Gain) from the disposition of such asset; PROVIDEDprovided, however, that no Partner will be allocated Recapture Gain under this Section 3.2 in excess of the total gain allocated to such Partner from such disposition.