{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [7, 25]}, {"key": "oil-and-gas-property", "type": "definition", "offset": [26, 46]}, {"key": "section-614", "type": "clause", "offset": [62, 73]}, {"key": "the-code", "type": "clause", "offset": [77, 85]}, {"key": "depletion-allowance", "type": "clause", "offset": [90, 109]}, {"key": "in-accordance-with", "type": "clause", "offset": [119, 137]}, {"key": "tax-principles", "type": "clause", "offset": [153, 167]}, {"key": "basis-of", "type": "clause", "offset": [189, 197]}, {"key": "the-property", "type": "clause", "offset": [198, 210]}, {"key": "adjusted-tax-basis", "type": "definition", "offset": [219, 237]}, {"key": "treasury-regulation", "type": "clause", "offset": [270, 289]}, {"key": "for-purposes-of", "type": "clause", "offset": [323, 338]}, {"key": "carrying-value", "type": "definition", "offset": [462, 476]}, {"key": "in-no-event-shall", "type": "clause", "offset": [499, 516]}, {"key": "allowance-for", "type": "clause", "offset": [522, 535]}, {"key": "in-the-aggregate", "type": "definition", "offset": [557, 573]}], "size": 95, "samples": [{"hash": "6l2J1HoLG9H", "uri": "/contracts/6l2J1HoLG9H#simulated-depletion", "label": "Limited Partnership Agreement (Mid-Con Energy Partners, LP)", "score": 29.4394245148, "published": true}, {"hash": "k3HtlQsDVGM", "uri": "/contracts/k3HtlQsDVGM#simulated-depletion", "label": "Limited Partnership Agreement (Memorial Production Partners LP)", "score": 27.4147834778, "published": true}, {"hash": "aVUsnLnqaf6", "uri": "/contracts/aVUsnLnqaf6#simulated-depletion", "label": "Limited Partnership Agreement (New Source Energy Partners L.P.)", "score": 24.1238880157, "published": true}], "snippet": "means, with respect to an oil and gas property (as defined in Section 614 of the Code), a depletion allowance computed in accordance with federal income tax principles (as if the Simulated Basis of the property was its adjusted tax basis) and in the manner specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion with respect to any property, the Simulated Basis of such property shall be deemed to be the Carrying Value of such property, and in no event shall such allowance for Simulated Depletion, in the aggregate, exceed such Simulated Basis.", "hash": "49657f6e4013196ab0910c5c3e0a8488", "id": 1}, {"snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "depletable-property", "type": "definition", "offset": [28, 47]}, {"key": "depletion-allowance", "type": "clause", "offset": [51, 70]}, {"key": "in-accordance-with", "type": "clause", "offset": [80, 98]}, {"key": "tax-principles", "type": "clause", "offset": [114, 128]}, {"key": "basis-of", "type": "clause", "offset": [150, 158]}, {"key": "the-property", "type": "clause", "offset": [159, 171]}, {"key": "adjusted-basis", "type": "definition", "offset": [181, 195]}, {"key": "treasury-regulations", "type": "definition", "offset": [228, 248]}, {"key": "for-purposes-of", "type": "clause", "offset": [282, 297]}, {"key": "gross-asset-value", "type": "definition", "offset": [432, 449]}, {"key": "in-no-event-shall", "type": "clause", "offset": [472, 489]}, {"key": "in-the-aggregate", "type": "definition", "offset": [506, 522]}], "size": 54, "samples": [{"hash": "ap38uvQjAXC", "uri": "/contracts/ap38uvQjAXC#simulated-depletion", "label": "Limited Liability Company Agreement (Earthstone Energy Inc)", "score": 33.2929496765, "published": true}, {"hash": "bBMgyduFaU", "uri": "/contracts/bBMgyduFaU#simulated-depletion", "label": "Limited Liability Company Agreement (Parsley Energy, Inc.)", "score": 30.5605754852, "published": true}, {"hash": "5SqtcyEjfx5", "uri": "/contracts/5SqtcyEjfx5#simulated-depletion", "label": "Limited Liability Company Agreement (Parsley Energy, Inc.)", "score": 30.1526355743, "published": true}], "snippet": "means, with respect to each Depletable Property, a depletion allowance computed in accordance with federal income tax principles (as if the Simulated Basis of the property were its Adjusted Basis) and in the manner specified in Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion with respect to any Depletable Property, the Simulated Basis of such property shall be deemed to be the Gross Asset Value of such property, and in no event shall such allowance, in the aggregate, exceed such Simulated Basis.", "hash": "600755880e99a320dbc821a105cc219a", "id": 2}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [7, 25]}, {"key": "oil-and-gas-property", "type": "definition", "offset": [26, 46]}, {"key": "section-614", "type": "clause", "offset": [62, 73]}, {"key": "the-code", "type": "clause", "offset": [77, 85]}, {"key": "depletion-allowance", "type": "clause", "offset": [90, 109]}, {"key": "in-accordance-with", "type": "clause", "offset": [119, 137]}, {"key": "tax-principles", "type": "clause", "offset": [153, 167]}, {"key": "treasury-regulation", "type": "clause", "offset": [181, 200]}, {"key": "basis-of", "type": "clause", "offset": [244, 252]}, {"key": "the-property", "type": "clause", "offset": [253, 265]}, {"key": "adjusted-tax-basis", "type": "definition", "offset": [274, 292]}, {"key": "the-cost", "type": "clause", "offset": [387, 395]}, {"key": "for-purposes-of", "type": "clause", "offset": [414, 429]}, {"key": "in-no-event-shall", "type": "clause", "offset": [642, 659]}, {"key": "allowance-for", "type": "clause", "offset": [665, 678]}, {"key": "in-the-aggregate", "type": "definition", "offset": [700, 716]}, {"key": "pursuant-to-section", "type": "clause", "offset": [808, 827]}, {"key": "taxable-period", "type": "definition", "offset": [844, 858]}, {"key": "the-foregoing", "type": "clause", "offset": [943, 956]}, {"key": "adjusted-carrying-value", "type": "definition", "offset": [984, 1007]}], "size": 23, "samples": [{"hash": "Qz2YtVowJk", "uri": "/contracts/Qz2YtVowJk#simulated-depletion", "label": "Limited Liability Company Agreement (Viper Energy, Inc.)", "score": 36.9945259094, "published": true}, {"hash": "bZPHvmI1YOz", "uri": "/contracts/bZPHvmI1YOz#simulated-depletion", "label": "Limited Liability Company Agreement (Viper Energy, Inc.)", "score": 36.6303901672, "published": true}, {"hash": "5tMmjeUg4eP", "uri": "/contracts/5tMmjeUg4eP#simulated-depletion", "label": "Limited Liability Company Agreement (Viper Energy, Inc.)", "score": 36.3401794434, "published": true}], "snippet": "means, with respect to an oil and gas property (as defined in Section 614 of the Code), a depletion allowance computed in accordance with federal income tax principles set forth in Treasury Regulation Section 1.611-2(a)(1) (as if the Simulated Basis of the property was its adjusted tax basis) and in the manner specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2), applying the cost depletion method. For purposes of computing Simulated Depletion with respect to any oil and gas property (as defined in Section 614 of the Code), the Simulated Basis of such property shall be deemed to be the Carrying Value of such property, and in no event shall such allowance for Simulated Depletion, in the aggregate, exceed such Simulated Basis. If the Carrying Value of an oil and gas property is adjusted pursuant to Section 5.3(d) during a taxable period, following such adjustment Simulated Depletion shall thereafter be calculated under the foregoing provisions based upon such adjusted Carrying Value.", "hash": "8f1c2213af5fff5eff400a94c9a957ca", "id": 3}, {"snippet_links": [{"key": "this-exhibit", "type": "definition", "offset": [48, 60]}], "size": 19, "samples": [{"hash": "kwpuhe3bWhE", "uri": "/contracts/kwpuhe3bWhE#simulated-depletion", "label": "Participation Agreement (Clayton Williams Energy Inc /De)", "score": 21.0, "published": true}, {"hash": "21c5FAXrI9r", "uri": "/contracts/21c5FAXrI9r#simulated-depletion", "label": "Participation Agreement (Clayton Williams Energy Inc /De)", "score": 21.0, "published": true}, {"hash": "lPAGdzM7iez", "uri": "/contracts/lPAGdzM7iez#simulated-depletion", "label": "Participation Agreement (Clayton Williams Energy Inc /De)", "score": 19.0, "published": true}], "snippet": "has the meaning set forth in Section 5.01(b) of this Exhibit.", "hash": "1c726a4ab36aa0185801a43f26608a8c", "id": 4}, {"snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "depletable-property", "type": "definition", "offset": [28, 47]}, {"key": "depletion-allowance", "type": "clause", "offset": [51, 70]}, {"key": "in-accordance-with", "type": "clause", "offset": [80, 98]}, {"key": "tax-principles", "type": "clause", "offset": [119, 133]}, {"key": "basis-of", "type": "clause", "offset": [155, 163]}, {"key": "the-property", "type": "clause", "offset": [164, 176]}, {"key": "adjusted-tax-basis", "type": "definition", "offset": [186, 204]}, {"key": "treasury-regulation", "type": "clause", "offset": [237, 256]}], "size": 12, "samples": [{"hash": "kOQHST3WjBN", "uri": "/contracts/kOQHST3WjBN#simulated-depletion", "label": "Limited Liability Company Agreement (EP Energy Corp)", "score": 24.8329906464, "published": true}, {"hash": "bLaRgKdFkVW", "uri": "/contracts/bLaRgKdFkVW#simulated-depletion", "label": "Limited Liability Company Agreement (EP Energy Corp)", "score": 24.8329906464, "published": true}, {"hash": "i0gRyOUalLG", "uri": "/contracts/i0gRyOUalLG#simulated-depletion", "label": "Limited Liability Company Agreement (EP Energy Corp)", "score": 24.6741962433, "published": true}], "snippet": "means, with respect to each Depletable Property, a depletion allowance computed in accordance with U.S. federal income tax principles (as if the Simulated Basis of the property were its adjusted tax basis) and in the manner specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2).", "hash": "50db728238cdb5a6aad65d1a3d1b136a", "id": 5}, {"snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "depletable-property", "type": "definition", "offset": [28, 47]}, {"key": "depletion-allowance", "type": "clause", "offset": [51, 70]}, {"key": "in-accordance-with", "type": "clause", "offset": [80, 98]}, {"key": "tax-principles", "type": "clause", "offset": [119, 133]}, {"key": "treasury-regulations", "type": "definition", "offset": [163, 183]}, {"key": "for-purposes-of", "type": "clause", "offset": [217, 232]}, {"key": "in-no-event-shall", "type": "clause", "offset": [304, 321]}, {"key": "in-the-aggregate", "type": "definition", "offset": [338, 354]}, {"key": "basis-of", "type": "clause", "offset": [377, 385]}, {"key": "the-book", "type": "clause", "offset": [415, 423]}, {"key": "definition-of-book-value", "type": "clause", "offset": [483, 507]}, {"key": "taxable-year", "type": "definition", "offset": [517, 529]}, {"key": "fiscal-period", "type": "clause", "offset": [539, 552]}, {"key": "the-foregoing", "type": "clause", "offset": [637, 650]}, {"key": "adjusted-book-value", "type": "definition", "offset": [678, 697]}], "size": 11, "samples": [{"hash": "iLX8DQF1ybs", "uri": "/contracts/iLX8DQF1ybs#simulated-depletion", "label": "Limited Liability Company Agreement (Permian Resources Corp)", "score": 37.0164260864, "published": true}, {"hash": "a16mCpFUc99", "uri": "/contracts/a16mCpFUc99#simulated-depletion", "label": "Limited Liability Company Agreement (Infinity Natural Resources, Inc.)", "score": 36.0910339355, "published": true}, {"hash": "1fMmwHXV3X3", "uri": "/contracts/1fMmwHXV3X3#simulated-depletion", "label": "Limited Liability Company Agreement (Infinity Natural Resources, Inc.)", "score": 35.7570152283, "published": true}], "snippet": "means, with respect to each Depletable Property, a depletion allowance computed in accordance with U.S. federal income tax principles and in a manner specified in Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion with respect to any Depletable Property, in no event shall such allowance, in the aggregate, exceed the Simulated Basis of such Depletable Property. If the Book Value of a Depletable Property is adjusted pursuant to the definition of Book Value during a Taxable Year or other Fiscal Period, following such adjustment Simulated Depletion shall thereafter be calculated under the foregoing provisions based upon such adjusted Book Value.", "hash": "dcb98baea8d728f58078526a3de7f4fe", "id": 6}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [7, 25]}, {"key": "oil-and-gas-property", "type": "definition", "offset": [26, 46]}, {"key": "section-614", "type": "clause", "offset": [62, 73]}, {"key": "the-code", "type": "clause", "offset": [77, 85]}, {"key": "depletion-allowance", "type": "clause", "offset": [90, 109]}, {"key": "in-accordance-with", "type": "clause", "offset": [119, 137]}, {"key": "tax-principles", "type": "clause", "offset": [153, 167]}, {"key": "treasury-regulation", "type": "clause", "offset": [181, 200]}, {"key": "basis-of", "type": "clause", "offset": [244, 252]}, {"key": "the-property", "type": "clause", "offset": [253, 265]}, {"key": "adjusted-tax-basis", "type": "definition", "offset": [274, 292]}, {"key": "the-cost", "type": "clause", "offset": [387, 395]}, {"key": "for-purposes-of", "type": "clause", "offset": [414, 429]}, {"key": "in-no-event-shall", "type": "clause", "offset": [590, 607]}, {"key": "allowance-for", "type": "clause", "offset": [613, 626]}, {"key": "in-the-aggregate", "type": "definition", "offset": [648, 664]}, {"key": "pursuant-to-section", "type": "clause", "offset": [756, 775]}, {"key": "taxable-period", "type": "definition", "offset": [792, 806]}, {"key": "the-foregoing", "type": "clause", "offset": [891, 904]}, {"key": "adjusted-carrying-value", "type": "definition", "offset": [932, 955]}], "size": 10, "samples": [{"hash": "dFkliaTEg61", "uri": "/contracts/dFkliaTEg61#simulated-depletion", "label": "Limited Partnership Agreement", "score": 26.5961666107, "published": true}, {"hash": "87GUDs1H8EW", "uri": "/contracts/87GUDs1H8EW#simulated-depletion", "label": "Limited Partnership Agreement", "score": 26.5961666107, "published": true}, {"hash": "lWldk77Jthf", "uri": "/contracts/lWldk77Jthf#simulated-depletion", "label": "Series B Preferred Unit Purchase Agreement (Breitburn Energy Partners LP)", "score": 26.2813148499, "published": true}], "snippet": "means, with respect to an oil and gas property (as defined in Section 614 of the Code), a depletion allowance computed in accordance with federal income tax principles set forth in Treasury Regulation Section 1.611-2(a)(1) (as if the Simulated Basis of the property was its adjusted tax basis) and in the manner specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2), applying the cost depletion method. For purposes of computing Simulated Depletion with respect to any property, the Simulated Basis of such property shall be deemed to be the Carrying Value of such property, and in no event shall such allowance for Simulated Depletion, in the aggregate, exceed such Simulated Basis. If the Carrying Value of an oil and gas property is adjusted pursuant to Section 5.2(d) during a taxable period, following such adjustment Simulated Depletion shall thereafter be calculated under the foregoing provisions based upon such adjusted Carrying Value.", "hash": "23840112b5ce0cd699faa87522595b20", "id": 7}, {"snippet_links": [{"key": "depletion-allowance", "type": "clause", "offset": [8, 27]}, {"key": "oil-and-gas-property", "type": "definition", "offset": [46, 66]}, {"key": "in-accordance-with", "type": "clause", "offset": [81, 99]}, {"key": "this-agreement", "type": "clause", "offset": [121, 135]}, {"key": "provided-that", "type": "definition", "offset": [136, 149]}, {"key": "simulated-basis", "type": "definition", "offset": [220, 235]}, {"key": "the-adjustment", "type": "clause", "offset": [245, 259]}, {"key": "caused-by", "type": "clause", "offset": [268, 277]}], "size": 10, "samples": [{"hash": "eJi5OcmWGYF", "uri": "/contracts/eJi5OcmWGYF#simulated-depletion", "label": "Limited Liability Company Agreement (Vine Energy Inc.)", "score": 32.2224502563, "published": true}, {"hash": "jyebFZQIdJk", "uri": "/contracts/jyebFZQIdJk#simulated-depletion", "label": "Limited Liability Company Agreement (Vine Energy Inc.)", "score": 32.1430511475, "published": true}, {"hash": "hAUMuVwXKG9", "uri": "/contracts/hAUMuVwXKG9#simulated-depletion", "label": "Limited Liability Company Agreement (Vine Resources Inc.)", "score": 28.2717323303, "published": true}], "snippet": "means a depletion allowance computed for each oil and gas property as determined in accordance with Section 5.2(b)(i) of this Agreement provided that such Simulated Depletion shall not exceed such oil and gas property\u2019s Simulated Basis prior to the adjustment that is caused by such depletion allowance.", "hash": "383e9812aaee8751958f7d70dd38090f", "id": 8}, {"snippet_links": [{"key": "with-respect-to", "type": "clause", "offset": [7, 22]}, {"key": "depletable-property", "type": "definition", "offset": [28, 47]}, {"key": "depletion-allowance", "type": "clause", "offset": [51, 70]}, {"key": "in-accordance-with", "type": "clause", "offset": [80, 98]}, {"key": "tax-principles", "type": "clause", "offset": [119, 133]}, {"key": "basis-of", "type": "clause", "offset": [155, 163]}, {"key": "the-property", "type": "clause", "offset": [164, 176]}, {"key": "adjusted-tax-basis", "type": "definition", "offset": [186, 204]}, {"key": "treasury-regulations", "type": "definition", "offset": [237, 257]}, {"key": "for-purposes-of", "type": "clause", "offset": [291, 306]}, {"key": "book-value", "type": "definition", "offset": [441, 451]}, {"key": "in-no-event-shall", "type": "clause", "offset": [474, 491]}, {"key": "in-the-aggregate", "type": "definition", "offset": [508, 524]}, {"key": "by-the-general-partner", "type": "clause", "offset": [761, 783]}], "size": 10, "samples": [{"hash": "dnl3x2VfCnH", "uri": "/contracts/dnl3x2VfCnH#simulated-depletion", "label": "Agreement of Limited Partnership (TW Southcross Aggregator LP)", "score": 27.2997951508, "published": true}, {"hash": "8XoOFyXv8QN", "uri": "/contracts/8XoOFyXv8QN#simulated-depletion", "label": "Agreement of Limited Partnership (EIG BBTS Holdings, LLC)", "score": 27.2997951508, "published": true}, {"hash": "6SnXhdKGCYx", "uri": "http://pdf.secdatabase.com/2263/0001140361-16-061672.pdf", "label": "pdf.secdatabase.com", "score": 19.5409526825, "published": false}], "snippet": "means, with respect to each Depletable Property, a depletion allowance computed in accordance with U.S. federal income tax principles (as if the Simulated Basis of the property were its adjusted tax basis) and in the manner specified in Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion with respect to any Depletable Property, the Simulated Basis of such property shall be deemed to be the book value of such property, and in no event shall such allowance, in the aggregate, exceed such Simulated Basis. For purposes of computing Simulated Depletion, the General Partner will apply on a property by property basis the simulated percentage depletion method or the simulated cost depletion method, as determined by the General Partner, under Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2).", "hash": "ae0c62c76191acfa1ae098a9c4c009b1", "id": 9}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [7, 25]}, {"key": "oil-and-gas-property", "type": "definition", "offset": [26, 46]}, {"key": "section-614", "type": "clause", "offset": [62, 73]}, {"key": "the-code", "type": "clause", "offset": [77, 85]}, {"key": "depletion-allowance", "type": "clause", "offset": [90, 109]}, {"key": "in-accordance-with", "type": "clause", "offset": [119, 137]}, {"key": "tax-principles", "type": "clause", "offset": [153, 167]}, {"key": "treasury-regulation", "type": "clause", "offset": [181, 200]}, {"key": "basis-of", "type": "clause", "offset": [244, 252]}, {"key": "the-property", "type": "clause", "offset": [253, 265]}, {"key": "adjusted-tax-basis", "type": "definition", "offset": [274, 292]}, {"key": "the-cost", "type": "clause", "offset": [387, 395]}, {"key": "for-purposes-of", "type": "clause", "offset": [414, 429]}, {"key": "in-no-event-shall", "type": "clause", "offset": [642, 659]}, {"key": "allowance-for", "type": "clause", "offset": [665, 678]}, {"key": "in-the-aggregate", "type": "definition", "offset": [700, 716]}, {"key": "pursuant-to-section", "type": "clause", "offset": [808, 827]}, {"key": "taxable-period", "type": "definition", "offset": [844, 858]}, {"key": "the-foregoing", "type": "clause", "offset": [943, 956]}, {"key": "adjusted-carrying-value", "type": "definition", "offset": [984, 1007]}], "size": 7, "samples": [{"hash": "1SwF3iTljTz", "uri": "/contracts/1SwF3iTljTz#simulated-depletion", "label": "Limited Partnership Agreement (Black Stone Minerals, L.P.)", "score": 27.2970561981, "published": true}, {"hash": "cHT94EM7exh", "uri": "/contracts/cHT94EM7exh#simulated-depletion", "label": "Limited Partnership Agreement", "score": 27.2080764771, "published": true}, {"hash": "igpZcGzxJnz", "uri": "/contracts/igpZcGzxJnz#simulated-depletion", "label": "Limited Partnership Agreement (Black Stone Minerals, L.P.)", "score": 26.3415470123, "published": true}], "snippet": "means, with respect to an oil and gas property (as defined in Section 614 of the Code), a depletion allowance computed in accordance with federal income tax principles set forth in Treasury Regulation Section 1.611-2(a)(1) (as if the Simulated Basis of the property was its adjusted tax basis) and in the manner specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2), applying the cost depletion method. For purposes of computing Simulated Depletion with respect to any oil and gas property (as defined in Section 614 of the Code), the Simulated Basis of such property shall be deemed to be the Carrying Value of such property, and in no event shall such allowance for Simulated Depletion, in the aggregate, exceed such Simulated Basis. If the Carrying Value of an oil and gas property is adjusted pursuant to Section 5.4(d) during a taxable period, following such adjustment Simulated Depletion shall thereafter be calculated under the foregoing provisions based upon such adjusted Carrying Value.", "hash": "0fab8fc38822d6e1b876989dcabb81d8", "id": 10}], "next_curs": "CmASWmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjwLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIcc2ltdWxhdGVkLWRlcGxldGlvbiMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"title": "Simulated Depletion", "size": 301, "snippet": "means, with respect to an oil and gas property (as defined in Section 614 of the Code), a depletion allowance computed in accordance with federal income tax principles (as if the Simulated Basis of the property was its adjusted tax basis) and in the manner specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion with respect to any property, the Simulated Basis of such property shall be deemed to be the Carrying Value of such property, and in no event shall such allowance for Simulated Depletion, in the aggregate, exceed such Simulated Basis.", "id": "simulated-depletion", "examples": ["For purposes of maintaining the Capital Accounts and in determining the rights of the Members among themselves, the Company\u2019s items of income, gain, loss, deduction, amount realized and Simulated Gain (computed in accordance with Section 5.3(b)) for each taxable period shall be allocated among the Members, and the Capital Accounts of the Members shall be adjusted for <strong>Simulated Depletion</strong> and Simulated Loss, as provided herein below.", "<strong>Simulated Depletion</strong> will be computed in accordance with the provisions of the definition of <strong>Simulated Depletion</strong>.", "For purposes of applying clause (z) of the second sentence of Section 5.3(a), <strong>Simulated Depletion</strong> and Simulated Loss with respect to each oil and gas property (as defined in Section 614 of the Code) of the Company shall reduce each Member\u2019s Capital Account in proportion to the manner in which the Simulated Basis of such property is allocated among the Members pursuant to Section 6.1(c)(i)."], "related": [["simulated-gain", "Simulated Gain", "Simulated Gain"], ["simulated-loss", "Simulated Loss", "Simulated Loss"], ["simulated", "Simulated", "Simulated"], ["simulated-basis", "Simulated Basis", "Simulated Basis"], ["book-depreciation", "Book Depreciation", "Book Depreciation"]], "related_snippets": [], "updated": "2026-04-18T05:49:41+00:00"}, "json": true, "cursor": ""}}