Tax Credits. Any tax credit, and any tax credit recapture, will be allocated to the Members in the same ratio that the federal income tax basis of the asset (to which such tax credit relates) is allocated to the Members under the Section 46 Regulations, and if no basis is allocated, in the same manner as Profits are allocated to the Members under Section 5.2.
Appears in 5 contracts
Samples: Operating Agreement (Nevada Gold & Casinos Inc), Operating Agreement (Grand Palais Riverboat Inc), Operating Agreement (Lakes Gaming Inc)
Tax Credits. Any tax credit, and any tax credit recapture, will be allocated to the Members in the same ratio that the federal income tax basis of the asset (to which such tax credit relates) is allocated to the Members under the Section 46 Regulations, and if no basis is allocated, in the same manner as Profits are allocated to the Members under Section 5.28.1.
Appears in 4 contracts
Samples: Operating Agreement (Nevada Gold & Casinos Inc), Operating Agreement (Nevada Gold & Casinos Inc), Operating Agreement (Trackpower Inc)
Tax Credits. Any tax credit, and any tax credit recapture, will be allocated to the Members in the same ratio that the federal income tax basis of the asset (to which such tax credit relates) relates is allocated to the Members under the Section § 46 Regulations, and if no basis is so allocated, in the same manner as Profits are allocated to the Members under Section 5.27.2.
Appears in 2 contracts
Samples: Operating Agreement (McGuirk Terence F), Operating Agreement (Malone John C)
Tax Credits. Any tax credit, and any tax credit recapture, will be allocated to the Members in the same ratio that the federal income tax basis of the asset (to which such tax credit relates) is allocated to the Members under the Section 46 Regulations, and if no basis is allocated, in the same manner as Profits are allocated to the Members under Section 5.26.2.
Appears in 2 contracts
Samples: Management Agreement (Casino America Inc), Management Agreement (Nevada Gold & Casinos Inc)
Tax Credits. Any tax credit, and any tax credit recapture, will be ----------- allocated to the Members in the same ratio that the federal income tax basis of the asset (to which such tax credit relates) is allocated to the Members members under the Section 46 Regulations, and if no basis is allocated, in the same manner as Profits are allocated to the Members under Section 5.2.
Appears in 1 contract
Samples: Operating Agreement (Isle of Capri Black Hawk Capital Corp)
Tax Credits. Any tax credit, and any tax credit recapture, will be allocated to the Members in the same ratio that the federal Federal income tax basis of the asset (to which such tax credit relates) is allocated to the Members under the Section 46 Regulations, and if no basis is allocated, in the same manner as Profits are allocated to the Members under Section 5.26.1(a).
Appears in 1 contract
