Gain From Sale definition

Gain From Sale means any income or gain of the Partnership for federal income tax purposes resulting from a Capital Transaction; provided that if the Book Value of a Partnership asset differs from its adjusted tax basis, the income or gain, if any, resulting from a Capital Transaction with respect to such asset shall be computed with respect to its Book Value rather than its adjusted tax basis.

Gain From Sale means any income or gain of the Partnership for federal income tax purposes resulting from the sale of Company Stock or any other transaction the proceeds of which, in accordance with generally accepted accounting principles, are considered capital in nature, except that if the value of the Company Stock or other asset as carried on the books of the Partnership differs from its adjusted basis for federal income tax purposes at the time of such transaction, such income or gain will be calculated with reference to such value. In the event the value of any asset of the Partnership as carried on the books of the Partnership is adjusted (except in the case of an adjustment pursuant to section 734(b) or section 743(b) of the Code) to Fair Market Value, the amount of such adjustment shall be taken into account at the time of such adjustment as gain or loss from the disposition of such asset for purposes of computing Gains from Sale or Losses from Sale.

Gain From Sale means gain or loss, as the case may be, determined m accordance with the rules of determining Federal taxable income, gain or loss, arising from a transaction giving rise to Sale Proceeds.

Examples of Gain From Sale in a sentence

• Election to Recognize Gain From Sale or Disposition of Electric Trans- ta DOE¥403¥1,368¥1,592¥1,312185952¥3,536 mission Property to Implement Federal Energy Regulatory Commission or State Electric Restructuring Policy Ratably Over Eight-Year Period Subject to Qualified Reinvestment (applies to sales or dispositions complete prior to January 1, 2007).

• Offsetting allocations of Net Income and Net Gain From Sale shall be made in subsequent Fiscal Years so as to achieve as nearly as possible the results that would have been achieved had this Section 4.3(c) not been included in this Agreement.

• Table 6: Built-In Gain Taken Into Account (Tax Gain From Sale of Land Allocated Entirely to A) Thus, under this second set of facts, the same amount of total tax revenue is collected over the life of the partnership ($1500 in total) under either method.

• If a sale or exchange of debt-financed property results in a capital loss, the loss taken into account in the tax year in which the loss arises is computed as provided under Gain From Sale or Other Disposition of Property, earlier in this chapter.

• Net Income and Net Gain From Sale for any Fiscal Year shall be allocated in such manner as equitably reflects amounts of cash distributed (or, in the case of unrealized income, amounts to be distributed) to the Limited Partners and the General Partner pursuant to Section 4.1(a).

More Definitions of Gain From Sale

Gain From Sale means, in the event of a sale of all or substantially all of the Company's assets, an amount equal to the Company's taxable gain, as computed for federal income tax purposes, recognized pursuant to such sale.

Gain From Sale means any net income or gain of the Partnership for Federal income tax purposes resulting from a Capital Transaction other than "recapture income" realized by the Partnership pursuant to Section 1245 or Section 1250 of the Code in respect of cost recovery and depreciation deductions subject to allocation under Section 10a(v) hereof.

Gain From Sale means the gain recognized for Federal income tax purposes upon the sale or other taxable disposition of any asset of the Partnership.

Gain From Sale set forth in Section 1 is amended and restated in its entirety as follows:

Gain From Sale means any gain resulting from the sale or other disposition of the assets of the Company not in the ordinary course of the Company’s business.

Gain From Sale in Section 1 of the Agreement is hereby amended and restated as follows: 2

Gain From Sale and "Loss from Sale": For any Fiscal Year or other period, an amount equal to JetFleet II's gain or loss for such year or period from the sale, exchange, refinancing or other disposition of the Aircraft. Gross Income specially allocated to the General Partners pursuant to Sections 4.3(c) and (g) shall be excluded from the calculation of Gain and Loss from Sale.