Recapture Income. The portion of each Member’s distributive share of Net Income that is characterized as ordinary income pursuant to Code Sections 1245 or 1250 shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)
Recapture Income. The portion of each Member’s distributive share of Net Income that is characterized as ordinary income pursuant to Code Sections 1245 or 1250 shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all of the Members.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (Cottonwood Multifamily Opportunity Fund, Inc.), Limited Liability Company Agreement (Vivakor, Inc.), Limited Liability Company Agreement (Vivakor, Inc.)
Recapture Income. The portion of each Member’s 's distributive share of Company Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 5 contracts
Samples: Operating Agreement (Ridgewood Properties Inc), Operating Agreement (Ridgewood Properties Inc), Operating Agreement (NNN 2003 Value Fund LLC)
Recapture Income. The portion of each Member’s distributive share of Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 4 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement, Operating Agreement
Recapture Income. The portion of each Member’s 's distributive share of Net Income Profits that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income Profits or Net Loss which Losses that included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 2 contracts
Samples: Operating Agreement (Performance Capital Management LLC), Operating Agreement (Performance Capital Management LLC)
Recapture Income. The portion of each Member’s distributive share of Company Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net New Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 2 contracts
Samples: Operating Agreement, LLC Operating Agreement
Recapture Income. The portion of each Member’s distributive share of Net Income that is characterized as ordinary income pursuant to Code Sections 1245 or 1250 shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.. 4.6
Appears in 1 contract
Samples: Limited Liability Company Agreement (Cottonwood Multifamily Reit Ii, Inc.)
Recapture Income. The portion of each Member’s distributive share of Company Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 1 contract
Samples: Operating Agreement (T Reit Inc)
Recapture Income. The portion of each Member’s distributive share of Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net New Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 1 contract
Samples: Note
Recapture Income. The portion of each Member’s 's distributive ----------------- share of Net Income Profits that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income Profits or Net Loss which Losses that included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 1 contract
Samples: Operating Agreement (Performance Capital Management LLC)
Recapture Income. The portion of each Member’s distributive share of Company Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net Loss Loss, which included includes the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 1 contract
Samples: Operating Agreement
Recapture Income. The portion of each Member’s distributive share of Company Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net Loss which included includes the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 1 contract
Samples: Operating Agreement
Recapture Income. The portion of each Member’s 's distributive share of ---------------- Company Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 1 contract
Samples: Operating Agreement (T Reit Inc)
Recapture Income. The portion of each Member’s distributive share of Company Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.. 4.6
Appears in 1 contract
Samples: Operating Agreement
Recapture Income. The portion of each Member’s 's distributive share of Company Net Income that is characterized as ordinary income pursuant to Code Sections Section 1245 or 1250 of the Code shall be proportionate to the amount of Net Income or Net New Loss which included the corresponding depreciation deductions that were allocated to such Member as compared with the amount of depreciation deductions allocated to all Members.
Appears in 1 contract
