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," 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 Regulation Section 1.704-3. All decisions regarding the choice of allocation method under Treasury Regulation Section 1.704-3 with respect to revalued Company assets shall be made by the Management Committee.

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 Regulation Regulations Section 1.704-3. All decisions regarding the choice of allocation method under Treasury Regulation Regulations Section 1.704-3 with respect to revalued Company assets shall be made by the Management CommitteeMembers.

Revalued Property. If the Company assets are revalued as set forth in the definition of "Book Value," 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 Regulation Reg. Section 1.704-3. All decisions regarding the choice of allocation method under Treasury Regulation Reg. Section 1.704-3 with respect to revalued Company assets shall be made by the Management CommitteeMembers.