Initial Gross Asset Value definition

Initial Gross Asset Value means the initial Gross Asset Value of any Company Property (other than Cash) on the Closing Date or on the date such Company Property is contributed or otherwise acquired, determined in accordance with the applicable terms of the Company LLC Agreement.

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Initial Gross Asset Value means (i) in the case of an asset that is contributed to CX, the gross fair market value of such asset on the contribution date, as determined by the Managers; and (ii) in the case of any other asset, the basis of such asset at the time it as acquired by CX (as detemined for federal income tax purposes).

Initial Gross Asset Value means the initial Gross Asset Value of any Topaz Property, Garnet Property, Diamond Property, Amethyst Property, Diamond Holdings Property, Aquamarine Property or Peridot Property (in each case, other than Cash) on the Closing Date or on the date such Topaz Property, Garnet Property, Diamond Property, Amethyst Property, Diamond Holdings Property, Aquamarine Property or Peridot Property is contributed or otherwise acquired, determined as follows:

Examples of Initial Gross Asset Value in a sentence

• By way of illustration, if one (1) real estate Asset is sold, and that sale reduces the Initial Gross Asset Value from $89,895,238 to $71,916,190, then the Guaranteed Fee shall be reduced by 20% and shall be equal to $440,000 annually.

• The General Partner has contributed to the capital of the Partnership the sum of $60,000, which has an Initial Gross Asset Value of and the General Partner's capital account will be credited in the amount of $50,000.

• For purposes of maintaining Capital Accounts pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv), the Initial Gross Asset Value of the land constituting part of the Property is $1,865,000 and the remaining fair market value of the Property as shown on Schedule A shall be allocated to the improvements in proportion to their adjusted tax basis.

• In accordance with Code ------------------------------------- Section 704(c) and the Regulations thereunder, income, gain, loss, and deduction with respect to any property contributed to the capital of the Partnership shall, solely for tax purposes, be allocated among the Partners so as to take account of any variation between the adjusted basis of such property to the Partnership for federal income tax purposes and its Initial Gross Asset Value.

• In accordance with Code Section 704(c) and the applicable Regulations thereunder, income, gain, loss, and deduction with respect to any property contributed to Chaparral shall, solely for tax purposes, be allocated among the Members so as to take account of any variation between the adjusted basis of such property to Chaparral for federal income tax purposes and its Initial Gross Asset Value.

• Following each calendar year quarter, if a Reduction Event has occurred in the preceding quarter, the Guaranteed Fee shall be reduced by the percentage amount equal to product of one (1) minus the product of the (a) gross asset value of the Assets (the numerator), divided by the (b) Initial Gross Asset Value (the denominator).

• The General Partner has contributed to the capital of the Partnership the sum of $1,000, which has an Initial Gross Asset Value of and the General Partner' s capital account will be credited in the amount of $1,000.

• In accordance with Code Section 704(c) and the Regulations thereunder, income, gain, loss and deduction with respect to any property contributed to the capital of the Company shall, solely for tax purposes, be allocated among the Members as to take accounts of any variation between the adjusted basis of such property of the Company for federal income tax purposes and its Initial Gross Asset Value.

More Definitions of Initial Gross Asset Value

Initial Gross Asset Value means the initial Gross Asset Value of any Chaparral Property or Mesquite Property (in each case, other than Cash) on the Closing Date or on the date such Chaparral Property or Mesquite Property is contributed or otherwise acquired, determined as follows: