BOOK-UP definition
BOOK-UP means increase or decrease the Gross Asset Value of Partnership Property pursuant to subsection (b) of the definition of Gross Asset Value, as permitted by Regulations Section 1.704-1(b)(2)(iv)(f) and corresponding adjustments to Capital Accounts.
BOOK-UP. Adjustments to Capital Accounts. In accordance with the provisions of Treas. Reg. Sec. 1.704-1(b)(2)(iv)(f) if, after the initial capital is contributed pursuant to Section 3.1, money or property in other than a de minimis amount is contributed to the Company, or services in other than a de minimis amount are performed for the Company, in exchange for Ownership Interest, the Capital Accounts of the Members and value of all the Company's property (determined immediately prior to such issuance) will be adjusted or “booked up” or “booked down” as the case may be to reflect the unrealized gain or unrealized loss attributable to each such Company property as if such unrealized gain or unrealized loss had been recognized on a sale of each such item of Company property immediately prior to such issuance and had been allocated to the Members in accordance with Article 3. In determining the unrealized gain or unrealized loss, the fair market value of Company property will be as determined by the Managers.
BOOK-UP. “Book Down” Clause. 16 3.10. Transfers of Partnership Interests. 17 3.11. Statement of Intent. 17 3.12. Failure to Pay Additional Contributions. 17 (A) Suspension of Voting Rights 17 (B) Other Partners Not Required to Cover. 17 (C) Other Partners’ Option to Cover. 17 (D) No Third Party Rights 17 (E) Grant of Power of Attorney 17 ARTICLE 4. CONDUCT OF PARTNERSHIP AFFAIRS 18 4.1. General GP Management Rights & Duties. 18 4.2. Specific ▇▇ ▇▇▇▇▇▇ 18 4.3. Ministerial Amendments to Partnership Agreement. 18 4.4. Limitations on ▇▇ ▇▇▇▇▇▇. 18 4.5. GP Appointment of Officers. 19 4.6. Removal of GP. 19 4.7. Compensation of Partners and Affiliates. 19 4.8. Action by Written Consents. 19 ARTICLE 5. ACCOUNTING & TAXES 20 5.1. Books of Account. 20 5.2. Additional Records. 20 5.3. Location & Access 20 5.4. Annual Reports. 20 5.5. Tax Elections, Returns and Information. 20 5.6. Confidential Information. 20 5.7. Tax Matters Partner 20 ARTICLE 6. PARTNER RIGHTS & RESTRICTIONS 21 6.1. LP Limited Liability. 21 6.2. LP Limited Management Rights. 21 6.3. Other Business Activities of Partners 21 6.4. Related Party Transactions. 21 6.5. LPs May Not Withdraw. 21 6.6. GP Withdrawal. 21 (A) GP Withdrawal Events 21
Examples of BOOK-UP in a sentence
BOOK-UP shall have the meaning given that term in Section 4 hereof.