Adjusted Book Basis definition

Adjusted Book Basis is defined in Exhibit C.
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Adjusted Book Basis. (which means, with respect to an item of property of the Company, the Book Basis of such item as the same may be adjusted from time to time by Book Depreciation allowable with respect to such item of property of the Company) of such item of property of the Company as the Tax Depreciation (as defined in Section 2.3A of this Exhibit) with respect to such item of property of the Company for such year bears to the “adjusted basis” (within the meaning of Section 1011(a) of the Internal Revenue Code of 1986, as amended [the “Code”]) of such item of property of the Company; and (2) “Book Gain or Loss” shall be the gain or loss recognized by the Company from the sale or other disposition of property of the Company (such gain or loss determined by reference to the Adjusted Book Basis, and not the adjusted tax basis, of such property to the Company). If an item of property of the Company shall have an “adjusted basis” (as defined in the preceding sentence) equal to zero, Book Depreciation shall be determined under a reasonable method, which method shall be selected by the Manager.
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Adjusted Book Basis. (which means, with respect to an item of property of the Company, the Book Basis of such item as the same may be adjusted from time to time by Book Depreciation allowable with respect to such item of property of the Company) of such item of property of the Company as the Tax Depreciation (as defined in Section 2.3A of this Exhibit) with respect to such item of property of the Company for such year bears to the “adjusted basis” (within the meaning of Section 1011(a) of the Code) of such item of property of the Company; and (2) “Book Gain or Loss” shall be the gain or loss recognized by the Company from the sale or other disposition of property of the Company (such gain or loss determined by reference to the Adjusted Book Basis, and not the adjusted tax basis, of such property to the Company). If an item of property of the Company shall have an “adjusted basis” (as defined in the preceding sentence) equal to zero, Book Depreciation shall be determined under a reasonable method, which method shall be recommended by the Manager subject to the approval of the Management Committee.
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More Definitions of Adjusted Book Basis

Adjusted Book Basis. (which means, with respect to an item of Partnership Property, the Book Basis of such item as the same may be adjusted from time to time by Book Depreciation allowable with respect to such item of Partnership Property) of such item of Partnership Property as the Tax Depreciation (as defined in Section 2.3A) with respect to such item of Partnership Property for such year bears to the "adjusted basis" (within the meaning of Section 1011(a) of the Internal Revenue Code of 1986, as amended [the "Code"]) of such item of Partnership Property; and (ii) "Book Gain or Loss" shall be the gain or loss recognized by the Partnership from the sale or other disposition of Partnership Property (such gain or loss determined by reference to the Adjusted Book Basis, and not the adjusted tax basis, of such property to the Partnership). If an item of Partnership Property shall have an "adjusted basis" (as defined in the preceding sentence) equal to zero, Book Depreciation shall be determined under a reasonable method, which method shall be selected by the Partnership.
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Adjusted Book Basis means, with respect to each item of Partnership property, the property’s adjusted basis for federal income tax purposes, except that in the case of any property contributed to the partnership (either actually or constructively upon a constructive liquidation and reconstruction of the Partnership for federal income tax purposes pursuant to section 708(b) (1) (B) of the Code), or any property with respect to which the decision to revalue the same has been made pursuant to section 3.6(c), the Adjusted Book Basis of such property shall be the gross fair market value of such property, as determined by the Management Committee, at the time of such contribution or revaluation, as the case may be, adjusted from time to time by Book Depreciation allowable with respect to such property.
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Related to Adjusted Book Basis

  • Adjusted Book Value means, as of a particular date, the Book Value on such date, subject to the following adjustments, each of which shall have been derived from the Company’s IFRS financial statements for the period ended on such date (or, if not derivable from such financial statements, shall be determined in good faith by the Company), but reduced by the amount of the federal income tax applicable thereto:

  • Additional Book Basis means the portion of any remaining Carrying Value of an Adjusted Property that is attributable to positive adjustments made to such Carrying Value as a result of Book-Up Events. For purposes of determining the extent that Carrying Value constitutes Additional Book Basis:

  • Additional Book Basis Derivative Items means any Book Basis Derivative Items that are computed with reference to Additional Book Basis. To the extent that the Additional Book Basis attributable to all of the Partnership’s Adjusted Property as of the beginning of any taxable period exceeds the Aggregate Remaining Net Positive Adjustments as of the beginning of such period (the “Excess Additional Book Basis”), the Additional Book Basis Derivative Items for such period shall be reduced by the amount that bears the same ratio to the amount of Additional Book Basis Derivative Items determined without regard to this sentence as the Excess Additional Book Basis bears to the Additional Book Basis as of the beginning of such period.

  • Adjusted Basis has the meaning given such term in Section 1011 of the Code.

  • Book Basis Derivative Items means any item of income, deduction, gain or loss that is computed with reference to the Carrying Value of an Adjusted Property (e.g., depreciation, depletion, or gain or loss with respect to an Adjusted Property).