Recapture Income. “Recapture Income,” if any, realized by the Company pursuant to Sections 1245 or 1250 of the Code shall be allocated to the Members to whom the prior corresponding depreciation deductions were allocated, in proportion to the amounts of such depreciation deductions previously allocated to them.
Appears in 6 contracts
Samples: Operating Agreement, Area Development Agreement (Harrison Vickers & Waterman Inc), Operating Agreement (Harrison Vickers & Waterman Inc)
Recapture Income. “Recapture Income,” if any, realized by the Company pursuant to Sections 1245 or 1250 and any similar provision of the Code shall be allocated to the Members to whom the prior corresponding depreciation deductions were allocated, in proportion to the amounts of such depreciation deductions previously allocated to them. The provisions of this Paragraph shall apply only to affect the character, but not the amount, of the allocations to the Members.
Appears in 2 contracts
Samples: Operating Agreement, Operating Agreement
