Net Property Gain or “Net Property Loss” means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable gain or loss for such year or period from Sales, including the amount of any adjustment of the Gross Asset Value of any Real Estate Asset which requires that the Capital Accounts of the Partners be adjusted pursuant to Sections 1.704-1(b)(2)(iv)(e), (f) and (g) of the Regulations. For these purposes, the Gross Asset Value of the Real Estate Assets shall reflect the market capitalization of the General Partner (increased by the amount of any Partnership liabilities).
Net Property Gain or “Net Property Loss” means, for each fiscal year or other applicable period, an amount equal to the Partnership’s net taxable gain or loss for such year or period from the disposition of Property, including the net capital gain realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership, including but not limited to net capital gain realized in connection with an adjustment of the Gross Asset Value of any Property which requires that the Capital Accounts of the Partners be adjusted pursuant to Sections 1.704-1(b)(2)(iv)(e), (f) and (g) of the Regulations. For these purposes, the Gross Asset Value of the Property shall reflect the market capitalization of the General Partner (increased by the amount of any Partnership liabilities).
Net Property Gain or “Net Property Loss” means, for each fiscal year or other applicable period, items of income, gain, loss or deduction that are components of the Partnership’s Net Income or Net Loss for such year or period from the disposition of any Property, including the net capital gain realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership, including but not limited to net capital gain realized in connection with an adjustment of the Gross Asset Value of any Property which requires that the Capital Accounts of the Partners be adjusted pursuant to Sections 1.704-1(b)(2)(iv)(e), (f) and (g) of the Regulations.”
Examples of Net Property Gain in a sentence
For purposes of this Exhibit B, a transferee of a Partnership Interest shall be deemed to have been allocated the Net Income, Net Loss, Net Property Gain, Net Property Loss and other items of Partnership income, gain, loss, deduction and credit allocable to the transferred Partnership Interest that previously have been allocated to the transferor Partner pursuant to this Agreement.
The Net Income, Net Loss, Net Property Gain, Net Property Loss and other Partnership items shall be allocated pursuant to the provisions of Exhibit B.
For purposes hereof, in order to determine the proportionate allocations of depreciation and amortization deductions for each fiscal year or other applicable period, such deductions shall be deemed allocated on the same basis as Net Income, Net Loss, Net Property Gain and Net Property Loss for such respective period.
This subparagraph 4(b) shall not alter the amount of Net Income, Net Property Gain or Liquidating Gain (or items thereof) allocated among the Partners, but merely the character of such Net Income, Net Property Gain or Liquidating Gain (or items thereof).
For purposes hereof, in order to determine the proportionate allocations of depreciation and amortization deductions for each fiscal year or other applicable period, such deductions shall be deemed allocated on the same basis as Net Income, Net Loss, Net Property Gain, Net Property Loss and Liquidating Gain for such respective period.
More Definitions of Net Property Gain
Net Property Gain means, for any fiscal year or portion thereof, the excess of gains realized from the sale or disposition of real property and other capital assets over the losses realized in connection with the sale or disposition of real property and other capital assets.
Net Property Gain means, for each fiscal year or other applicable period, an amount equal to the Partnership’s net taxable gain for such year or period from the disposition of Property.
Net Property Gain or “Net Property Loss” means, for each fiscal year or other applicable period, items of income, gain, loss or deduction that are components of the Partnership’s Net Income or Net Loss for such year or period from Sales, including, but not limited to, the amount of any net capital gain realized in connection with an adjustment of the Gross Asset Value of any Real Estate Asset which requires that the Capital Accounts of the Partners be adjusted pursuant to Sections 1.704-1(b)(2)(iv)(e), (f) and (g) of the Regulations. For these purposes, the Gross Asset Value of the Real Estate Assets shall reflect the market capitalization of the General Partner (increased by the amount of any Partnership liabilities).”
Net Property Gain or “Net Property Loss” means, for each fiscal year or other applicable period, an amount equal to the Partnership’s net taxable gain or loss for such year or period from the disposition of Property, including the net capital gain realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership, including
Net Property Gain and "Net Property Loss" means for any period: (i) the net gain or net loss of the Company for such period, as determined under Federal income tax principles, attributable to the sale or other disposition of assets other than in the ordinary course of the Company's business, and taking into account any separately reported items related thereto; plus (ii) in the event of a distribution during such period by the Company of assets in kind, the amount of net gain or net loss that would have been realized by the Company if it had sold such assets for their fair market value immediately prior to such distribution; provided, however, that Net Property Gain and Net Property Loss (x) shall be computed by taking into account depreciation, depletion, amortization, income, gain and loss as determined with reference to the fair market value of Company assets at the time of their contribution to the Company or their revaluation pursuant to Section 5.01(c) rather than with respect to the Company's adjusted tax bases (for Federal income tax purposes) in such assets (as required by Section 1.704-1(b)(2)(iv)(g) by the Treasury Regulations), and (y) shall not take into account any items of income, gain, loss or deduction that are specially allocated under Section 5.02(d) or Section 5.02(g).
Net Property Gain means, for any Partnership Year, the excess of gains realized from the sale or disposition of real property and other capital assets of the Partnership properly taken into account for such period (in the manner set forth with respect to this definition in the paragraph immediately following the definition of “Net Property Loss”), over the losses realized in connection with the sale or disposition of real property and other capital assets (in the manner set forth with respect to this definition in the paragraph immediately following the definition of “Net Property Loss”).
Net Property Gain or “Net Property Loss” means, for each fiscal year or other applicable period, an amount equal to the Partnership’s gain or loss for such year or period from Sales and the amount of any adjustment of the Gross Asset Value of any Real Estate Asset pursuant to Sections 1.704-1(b)(2)(iv)(e),