Net Property Losses definition
Net Property Losses means, for each fiscal year or other applicable period, an amount equal to the Company’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 Company, including 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 Members be adjusted pursuant to Treas. Reg. §§ 1.704-1(b)(2)(iv)(e), (f) and (g). For these purposes, the Gross Asset Value of the Property may reflect the market capitalization of PubCo (increased by the amount of any Company liabilities).
Examples of Net Property Losses in a sentence
To the extent Net Property Losses are allocated to LTIP Unitholders pursuant to Section 6.03(b), such Net Property Loss shall be allocated among the LTIP Unitholders in a manner that reverses the allocation of Net Property Gain to the LTIP Unitholders pursuant to this Section 6.04(a).