Examples of Gross Fair Market Value in a sentence
In addition, the Gross Asset Value of any Company asset that is distributed to a Member will be adjusted to equal the Gross Fair Market Value of the asset on the Distribution Date.
In the event the Gross Asset Value of any Partnership asset is adjusted pursuant to Section 1.15(b) - Adjust Gross Fair Market Value hereof, subsequent allocations of income, gain, loss, and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in the same manner as under Code Section 704(c) and the Regulations thereunder.
A Change in the Ownership of a Substantial Portion of the Corporation’s Assets occurs on the date that any one person, or more than one “person acting as a group” (as defined in Treasury Regulation §1.409A-3(i)(5)(vii)(C)), acquires assets from the Corporation that have a total Gross Fair Market Value equal to or more than 40% of the total Gross Fair Market Value of all of the assets of the Corporation immediately prior to such acquisition or acquisitions.
The Exit Notice shall also set forth in reasonable detail the Initiating Partner's division of all liabilities of the Partnership, including current liabilities and related keepwells (collectively, "Liabilities"), between the two Asset Groups such that the "Net Fair Market Value" of each Asset Group is equal, Net Fair Market Value being defined as Gross Fair Market Value minus Liabilities.
The Exit Notice shall set forth in reasonable detail the Initiating Partner's division of all assets of the Partnership, including current assets, into two groups of as nearly equal Gross Fair Market Value as possible (each, an "Asset Group"), taking into account that cable television systems included in the geographic clusters designated on Schedule V may not be divided between Asset Groups.