Common use of Revalued Property Clause in Contracts

Revalued Property. If the Company assets are revalued as set forth in the definition of “Book Value” in Section 1.1, then subsequent allocations of income, gain, loss and deduction with respect to revalued Company assets shall take into account any variation between the adjusted basis of such assets for federal income tax purposes and their adjusted value in the same manner as under Section 704(c) of the Code and in compliance with Treasury Regulations Section 1.704-3. All decisions regarding the choice of allocation method under Treasury Regulations Section 1.704-3 with respect to revalued Company assets shall be made by the Members.

Revalued Property. If the Company assets are revalued as set forth in the definition of “"Book Value” in Section 1.1, then ," subsequent allocations of income, gain, loss and deduction with respect to revalued Company assets shall take into account any variation between the adjusted basis of such assets for federal income tax purposes and their adjusted value in the same manner as under Section 704(c) of the Code and in compliance with Treasury Regulations Regulation Section 1.704-3. All decisions regarding the choice of allocation method under Treasury Regulations Regulation Section 1.704-3 with respect to revalued Company assets shall be made by the MembersManagement Committee.

Revalued Property. If In the event that the Book Value of any Company assets are revalued as set forth in the definition of “Book Value” in asset is adjusted pursuant to Regulation Section 1.11.704-1(b)(2)(iv)(f), then subsequent allocations of income, gain, loss loss, and deduction with respect to revalued Company assets such asset shall take into be made among the Members in a manner that takes account of any variation between the adjusted tax basis of such assets for federal income tax purposes asset and their adjusted value its Book Value in the same manner as required under Code Section 704(c) of and the Code and in compliance with Treasury Regulations Section 1.704-3. All decisions regarding the choice of allocation method under Treasury Regulations Section 1.704-3 with respect to revalued Company assets shall be made by the Membersthereunder.

Revalued Property. If the Company assets are revalued as set forth in the definition of “"Book Value” in Section 1.1, then ," subsequent allocations of income, gain, loss and deduction with respect to revalued Company assets shall take into account any variation between the adjusted basis of such assets for federal income tax purposes and their adjusted value in the same manner as under Section 704(c) of the Code and in compliance with Treasury Regulations Reg. Section 1.7041. 704-3. All decisions regarding the choice of allocation method under Treasury Regulations Reg. Section 1.704-3 with respect to revalued Company assets shall be made by the Members.