Revaluation of Company Property. (a) Upon the occurrence of a Revaluation Event, Company property (whether tangible or intangible) shall be revalued, and the Capital Accounts of the Members shall be adjusted in accordance with Sections 2.03(d) and 2.04(e) of this Exhibit, to reflect the Adjusted Fair Market Value of Company property immediately prior to the Revaluation Event.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (CBL/Regency I, LLC), Limited Liability Company Agreement (CBL & Associates Properties Inc)
Revaluation of Company Property. (a) Upon the occurrence of a Revaluation Event, the Manager may revalue all Company property (whether tangible or intangible) shall be revalued, and the Capital Accounts of the Members shall be adjusted in accordance with Sections 2.03(d) and 2.04(e) of this Exhibit, for Book purposes to reflect the Adjusted Fair Market Value of Company property immediately prior to the Revaluation Event. In the event that Company property is so revalued, the Capital Accounts of the Members shall be adjusted in accordance with Treas. Reg. Section 1.704-1(b)(2)(iv)(f).
Appears in 2 contracts
Samples: Members' Agreement (Stratosphere Corp), Members Agreement (Ebs Building LLC)
Revaluation of Company Property. (a) Upon the occurrence of a ------------------------------- Revaluation Event, the Manager may revalue all Company property (whether tangible or intangible) shall be revalued, and the Capital Accounts of the Members shall be adjusted in accordance with Sections 2.03(d) and 2.04(e) of this Exhibit, for Book purposes to reflect the Adjusted Fair Market Value of Company property immediately prior to the Revaluation Event. In the event that Company property is so revalued, the Capital Accounts of the Members shall be adjusted in accordance with Treas. Reg. (S) 1.704-1(b)(2)(iv)(f).
Appears in 2 contracts
Samples: Members Agreement (Ebs Pension LLC), Members Agreement (Ebs Litigation LLC)
Revaluation of Company Property. (a) Upon the occurrence of a Revaluation Event, the Board will revalue all Company property (whether tangible or intangible) shall be revalued, and the for Capital Accounts of the Members shall be adjusted in accordance with Sections 2.03(d) and 2.04(e) of this Exhibit, Account purposes to reflect the Adjusted Fair Market Value of Company property immediately prior to the Revaluation Event. In the event that Company property is so revalued, the Capital Accounts of the Members will be adjusted in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(f).
Appears in 1 contract
Samples: Limited Liability Company Agreement (BWX Technologies, Inc.)
