Depreciation Allocations Sample Clauses
The Depreciation Allocations clause defines how the depreciation of assets will be distributed among relevant parties, typically in a partnership or joint venture context. It specifies the method and schedule for allocating depreciation expenses, often based on ownership percentages or agreed-upon formulas, and may address different asset classes or tax considerations. This clause ensures that each party receives an appropriate share of depreciation benefits or deductions, promoting fairness and clarity in financial reporting and tax filings.
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Depreciation Allocations. For income tax purposes, pursuant to Section 704(c) of the Code and the Treasury Regulations promulgated thereunder, depreciation, cost recovery and amortization deductions shall be allocated to the Partners as set forth in this Section 7.7.(B) in order to take into account any difference between (x) the Asset Value (as adjusted pursuant to the proviso in Section 7.1.(C)) of the assets on the date the assets are contributed to the Partnership or on any date on which the Capital Accounts are adjusted pursuant to Section 7.1.(C) and (y) the Partnership's adjusted tax basis in the assets on each such date. The foregoing allocation shall be implemented through the following provisions:
Depreciation Allocations. All Members shall share any depreciation according to their Sharing Ratios. However, notwithstanding anything to the contrary, in the event a Member is unable to take depreciation due to vehicle of investment or for some other reason, such allotted depreciation to said Member shall be reverted to the Class M Member.
Depreciation Allocations. All Partners shall share any depreciation according to their Sharing Ratios. However, notwithstanding anything to the contrary, in the event a Partner is unable to take depreciation due to vehicle of investment or for some other reason, such allotted depreciation to said Partner shall be reverted to the Class M Partners.