Revaluation. If the Book Value of any Company asset is adjusted pursuant to Section 1(a) and Section 4(a) of this Tax Appendix, subsequent allocations of income, gain, loss, and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Book Value in the same manner as under Code Section 704(c) and the Regulations thereunder.
Appears in 2 contracts
Samples: Operating Agreement (TASCR Ventures, LLC), Operating Agreement (Workhorse Group Inc.)
Revaluation. If the Book Value of any Company asset is adjusted pursuant to Section 1(a) and Section 4(a) l.02 of this Tax Appendix, subsequent allocations of income, gain, loss, and deduction deductions with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Book Value in the same manner as under Code Section 704(c) and the Regulations regulations thereunder.
Appears in 1 contract
Samples: Operating Agreement (Northern Technologies International Corp)
Revaluation. If the Book Value of any Company asset is adjusted pursuant to Section 1(a) and Section 4(a) of this Tax Appendix, subsequent allocations of income, gain, loss, and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Book Value in the same manner as under Code Section 704(c) and the Regulations thereunder.
Appears in 1 contract
Samples: Operating Agreement (Bon-Ton Stores of Lancaster, Inc.)
