Depreciation Recapture. In the event there is any recapture of Depreciation or investment tax credit, the allocation thereof shall be made among the Partners in the same proportion as the deduction for such Depreciation or investment tax credit was allocated.
Depreciation Recapture. To the maximum extent permitted by the Code, income realized by the Fund in the nature of recapture of depreciation or other cost recovery allowances (other than of Non-recourse Deductions or Shareholder Non-recourse Deductions) shall be allocated to Shareholders in the same proportions as depreciation allowances were allocated to them pursuant to Section 4.3(a).
Depreciation Recapture. Subject to the provisions of Section 704€ of the Code and Sections 8.1.2 – 8.1.4, inclusive, of this Agreement, gain recognized (or deemed recognized under the provisions hereof) upon the sale or other disposition of Company property, which is subject to depreciation recapture, shall be allocated to the Member who was entitled to deduct such depreciation.
Depreciation Recapture. In the event there is any recapture of Depreciation, the allocation of gain or income attributable to such recapture shall be shared by the Members in the same proportion as the deduction for such Depreciation was shared.
Depreciation Recapture. Subject to Section 5.10, if any portion of taxable gain recognized from the disposition of property by the Company represents the “recapture” of previously allocated deductions by virtue of the application of Code Section 1(h)(1)(D), 1245 or 1250 (“Recapture Gain”), such Recapture Gain shall be allocated as follows:
Depreciation Recapture. Solely for tax purposes, a Member's share of the Company's depreciation recapture recognized for tax purposes upon the disposition of Company property shall be computed in the manner provided for in sections 1.704-3(a)(11), 1.1245-1(e) and 1.1250-1(f) of the Income Tax Regulations. The provisions of this Section 9.1(d) are intended to affect only the character of the items of gain allocated by the Company to the Members. This Section 9.1(d) shall not affect the aggregate amount of gain (including gain characterized under this Section 9.1(d) as depreciation recapture) otherwise allocable to a Member pursuant to this Section 9.1.
Depreciation Recapture. Notwithstanding the foregoing, if the taxable gain to be allocated pursuant to Section 8.2 or 8.3 above includes income treated as ordinary income for federal income tax purposes because it is attributable to the recapture of depreciation, such gain so treated as ordinary income shall be allocated to and reported by the Partners in proportion to their accumulated depreciation allocations, and the Partnership shall keep records of such allocations.
Depreciation Recapture. To the extent possible, if taxable gain to be allocated includes income resulting from the sale or disposition of Partnership property which is treated as ordinary income (or un-recaptured Code Section 1250 gain) for income tax purposes, such gain so treated as ordinary income (or un-recaptured Code Section 1250 gain) shall be allocated to and reported by each Partner in proportion to allocations received by that Partner of the items that gave rise to such ordinary income (or Code Section 1250 gain) recapture, and the Partnership shall keep records of such allocations.
Depreciation Recapture. If Profits to be allocated pursuant to Section E.2 or items of gross income to be allocated pursuant to Section E.3(a) includes income treated as ordinary income or “unrecaptured section 1250 gain” (as defined in Section 1(h)(6) of the Code) for U.S. federal income tax purposes because it is attributable to the recapture of Depreciation, such Profits or items of gross income shall be allocated to the Members, to the extent possible, in proportion to their prior Depreciation allocations which gave rise to such recapture.
Depreciation Recapture. Each Partner's allocable Share of Partnership Net Profits which is characterized as ordinary income pursuant to Sections 1245 or 1250 of the Code or the applicable state sections, as amended, with respect to the disposition of an item of Partnership property, shall bear the same ratio to the total Net Profits so characterized of the Partnership as such Partner's Share of the past depreciation and/or cost recovery deductions taken with respect to the item of property bears to all the Partners' past depreciation and/or cost recovery deductions with respect to that property.
