Depletion. (a) The depletion deduction with respect to each Oil and Gas Interest of the Partnership shall be computed separately by each Partner in accordance with Code Section 613A(c)(7)(D) for Federal income tax purposes. For purposes of such computation, the adjusted basis of each Oil and Gas Interest shall be allocated in accordance with the Partners’ interests in the capital of the Partnership.
Appears in 9 contracts
Samples: Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.)
Depletion. (a) The depletion deduction with respect to each Oil oil and Gas Interest gas property of the Partnership shall be computed separately by for each Partner in accordance with Code Section 613A(c)(7)(D) for Federal income tax purposes. For purposes of such computation, the adjusted basis of each Oil oil and Gas Interest gas property shall be allocated in accordance with the Partners’ ' interests in the capital of the Partnership. Among the Investor Partners, such adjusted basis shall be apportioned among them in accordance with the number of Units held.
Appears in 7 contracts
Samples: Limited Partnership Agreement (PDC 2003-C Lp), Limited Partnership Agreement (PDC 2004-B Limited Partnership), Limited Partnership Agreement (Rockies Region 2007 Lp)
Depletion. (a) The depletion deduction with respect to each Oil oil and Gas Interest gas property of the Partnership shall be computed separately by for each Partner in accordance with Code Section 613A(c)(7)(D§ 6l3A(c)(7)(D) for Federal income tax purposes. For purposes of such computation, the adjusted basis of each Oil oil and Gas Interest gas property shall be allocated in accordance with the Partners’ ' interests in the capital of the Partnership. Among the Investor Partners, such adjusted basis shall be apportioned among them in accordance with the number of Units held.
Appears in 6 contracts
Samples: Limited Partnership Agreement (PDC 2002 B LTD Partnership), Limited Partnership Agreement (PDC 2002 C LTD Partnership), Limited Partnership Agreement (PDC 2003-a Lp)
Depletion. (a) The depletion deduction with respect to each Oil and Gas Interest of the Partnership shall be computed separately by each Partner in accordance with Code Section 613A(c)(7)(D) for Federal income tax purposes. For purposes of such computation, the adjusted basis of each Oil and Gas Interest shall be allocated in accordance with the Partners’ ' interests in the capital of the Partnership.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.), Limited Partnership Agreement (Bayou City Exploration, Inc.)
Depletion. (a) The depletion deduction with respect to each Oil oil and Gas Interest gas property of the Partnership shall be computed separately by for each Partner in accordance with Code Section 613A(c)(7)(D) for Federal federal income tax purposes. For purposes of such computation, the adjusted basis of each Oil oil and Gas Interest gas property shall be allocated in accordance with the Partners’ interests in the capital of the Partnership. Among the Investor Partners, such adjusted basis shall be apportioned among them in accordance with the number of Units held.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Reef Global Energy I Lp), Limited Partnership Agreement (Reef Global Energy Ii Lp)
Depletion. (a) The depletion deduction with respect to each Oil oil and Gas Interest gas property of the Partnership shall be computed separately by for each Partner in accordance with Code Section 613A(c)(7)(D) for Federal income tax lax purposes. For purposes of such computation, the adjusted basis of each Oil oil and Gas Interest gas property shall be allocated in accordance with the Partners’ ' interests in the capital of the Partnership. Among the Investor Partners, such adjusted basis shall be apportioned among them in accordance with the number of Units held.
Appears in 1 contract
Samples: Limited Partnership Agreement (PDC 2004-D Limited Partnership)
Depletion. (a) The depletion deduction with respect to each Oil and Gas Interest of the Partnership shall be computed separately by each Partner in accordance with Code Section §613A(c)(7)(D) for Federal income tax purposes. For purposes of such computation, the adjusted basis of each Oil and Gas Interest shall be allocated in accordance with the Partners’ ' interests in the capital of the Partnership.
Appears in 1 contract
Samples: Limited Partnership Agreement (Bayou City Exploration, Inc.)
Depletion. (a) The depletion deduction with respect to each Oil oil and Gas Interest gas property of the Partnership shall be computed separately by for each Partner in accordance with Code Section 613A(c)(7)(D6l3A(c)(7)(D) for Federal income tax purposes. For purposes of such computation, the adjusted basis of each Oil oil and Gas Interest gas property shall be allocated in accordance with the Partners’ ' interests in the capital of the Partnership. Among the Investor Partners, such adjusted basis shall be apportioned among them in accordance with the number of Units held.
Appears in 1 contract
Samples: Limited Partnership Agreement (PDC 2004-C Limited Partnership)
