Common use of Recapture Items Clause in Contracts

Recapture Items. In the event that the Fund has taxable income in any Fiscal Year that is characterized as ordinary income under the recapture provisions of the Code, each Member's distributive share of taxable gain or loss from the sale of Fund assets (to the extent possible) will include a proportionate share of this recapture income equal to that Member's share of prior cumulative depreciation deductions with respect to the assets which gave rise to the recapture income.

Recapture Items. In the event that the Fund has taxable income in any Fiscal Year that is characterized as ordinary income under the recapture provisions of the Code, each Member's ’s distributive share of taxable gain or loss from the sale of Fund assets (to the extent possible) will include a proportionate share of this recapture income equal to that Member's ’s share of prior cumulative depreciation deductions with respect to the assets which gave rise to the recapture income.

Recapture Items. In the event that the Fund has taxable income in any Fiscal Year that is characterized as ordinary income under the recapture provisions of the Code, each Member's ’s distributive share of taxable gain or loss from the sale of Fund Company assets (to the extent possible) will include a proportionate share of this recapture income equal to that Member's ’s share of prior cumulative depreciation deductions with respect to the assets which gave rise to the recapture income.