Common use of Recapture of Deductions and Credits Clause in Contracts

Recapture of Deductions and Credits. If any “recapture” of deductions or credits previously claimed by the Company is required under the Code upon the sale or other taxable disposition of any Company property, those recaptured deductions or credits shall, to the extent possible, be allocated to Members, pro rata in the same manner that the deductions and credits giving rise to the recapture items were allocated using the “first-in, first-out” method of accounting; provided, however, that this Section A6 shall only affect the characterization of income allocated among the Members for tax purposes.

Appears in 5 contracts

Samples: Letter Agreement (Bioceres S.A.), Letter Agreement (Bioceres S.A.), Letter Agreement (Bioceres S.A.)

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Recapture of Deductions and Credits. If any “recapture” of deductions or credits previously claimed by the Company is required under the Code upon the sale or other taxable disposition of any Company property, those recaptured deductions or credits shall, to the extent possible, be allocated to Members, the Members pro rata in the same manner that the deductions and credits giving rise to the recapture items were originally allocated using the “first-in, first-out” method of accounting; provided, however, that this Section A6 4.4(d) shall only affect the characterization of income allocated among the Members for tax purposes.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Emdeon Inc.), Limited Liability Company Agreement (Emdeon Corp), Limited Liability Company Agreement (HLTH Corp)

Recapture of Deductions and Credits. If any “recapture” of deductions or credits previously claimed by the Company Fund is required under the Code upon the sale or other taxable disposition of any Company propertyProperty, those recaptured deductions or credits shall, to the extent possible, be allocated to Members, the Members pro rata in the same manner that the deductions and credits giving rise to the recapture items were allocated originally allocated, using the “first-in, first-out” method of accounting; provided, however, that this Section A6 5.6 shall only affect the characterization characterization, but not amount of income Net Income allocated among the Members for tax purposes.

Appears in 2 contracts

Samples: Operating Agreement (Cornerstone Realty Fund LLC), Operating Agreement (Cornerstone Realty Fund LLC)

Recapture of Deductions and Credits. If any "recapture" of deductions or credits previously claimed by the Company is required under the Code upon the sale or other taxable disposition of any Company property, those recaptured deductions or credits shall, to the extent possible, be allocated to Members, the Members pro rata in the same manner that the deductions and credits giving rise to the recapture items were originally allocated using the "first-in, first-out" method of accounting; provided, however, that this Section A6 3.5(c) -------------- shall only affect the characterization of income allocated among the Members for tax purposes.

Appears in 1 contract

Samples: Limited Liability Company Agreement (St John Knits Inc)

Recapture of Deductions and Credits. If any "recapture" of deductions or credits previously claimed by the Company is required under the Code upon the sale or other taxable disposition of any Company property, those recaptured deductions or credits shall, to the extent possible, be allocated to Members, the Members pro rata in the same manner that the deductions and credits giving rise to the recapture items were originally allocated using the "first-in, first-out" method of accounting; provided, however, that this Section A6 5.4(c) shall only affect the characterization of income allocated among the Members for tax purposes.

Appears in 1 contract

Samples: Transfer Agreement (Lear Corp /De/)

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Recapture of Deductions and Credits. If any "recapture" of deductions or credits previously claimed by the Company is required under the Code upon the sale or other taxable disposition of any Company property, those recaptured deductions or credits shall, to the extent possible, be allocated to Members, the Members pro rata in the same manner that the deductions and credits giving rise to the recapture items were originally allocated using the "first-in, first-out" method of accounting; provided, however, that this Section A6 4(c) of Appendix A shall only affect the characterization of income allocated among the Members for tax purposes.

Appears in 1 contract

Samples: Operating Agreement (Biolabs Inc)

Recapture of Deductions and Credits. If any “recapture” of deductions or credits previously claimed by the Company is required under the Code upon the sale or other taxable disposition of any Company propertyProperty, those recaptured deductions or credits shall, to the extent possible, be allocated to Members, pro rata in the same manner that the deductions and credits giving rise to the recapture items were allocated using the “first-in, first-out” method of accounting; provided, however, that this Section A6 shall only affect the characterization of income allocated among the Members for tax purposes.. Exhibit A

Appears in 1 contract

Samples: Limited Liability Company Agreement (Grom Social Enterprises, Inc.)

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