Net Property Loss definition

Net Property Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable gain or loss for such year or period from Sales, including the amount of any adjustment of the Gross Asset Value of any Real Estate Asset which requires that the Capital Accounts of the Partners be adjusted pursuant to Sections 1.704-1(b)(2)(iv)(e), (f) and (g) of the Regulations. For these purposes, the Gross Asset Value of the Real Estate Assets shall reflect the market capitalization of the General Partner (increased by the amount of any Partnership liabilities).

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Net Property Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s net taxable gain or loss for such year or period from the disposition of Property, including the net capital gain realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership, including but not limited to net capital gain realized in connection with an adjustment of the Gross Asset Value of any Property which requires that the Capital Accounts of the Partners be adjusted pursuant to Sections 1.704-1(b)(2)(iv)(e), (f) and (g) of the Regulations. For these purposes, the Gross Asset Value of the Property shall reflect the market capitalization of the General Partner (increased by the amount of any Partnership liabilities).

Net Property Loss means, for any fiscal year or portion thereof, the excess of losses realized from the sale or disposition of real property and other capital assets over the gains realized in connection with the sale or disposition of real property and other capital assets.

Examples of Net Property Loss in a sentence

For purposes of this Exhibit B, a transferee of a Partnership Interest shall be deemed to have been allocated the Net Income, Net Loss, Net Property Gain, Net Property Loss and other items of Partnership income, gain, loss, deduction and credit allocable to the transferred Partnership Interest that previously have been allocated to the transferor Partner pursuant to this Agreement.
The Net Income, Net Loss, Net Property Gain, Net Property Loss and other Partnership items shall be allocated pursuant to the provisions of Exhibit B.
For purposes hereof, in order to determine the proportionate allocations of depreciation and amortization deductions for each fiscal year or other applicable period, such deductions shall be deemed allocated on the same basis as Net Income, Net Loss, Net Property Gain and Net Property Loss for such respective period.
For purposes hereof, in order to determine the proportionate allocations of depreciation and amortization deductions for each fiscal year or other applicable period, such deductions shall be deemed allocated on the same basis as Net Income, Net Loss, Net Property Gain, Net Property Loss and Liquidating Gain for such respective period.
Any remaining Net Property Gain or Liquidating Gain not allocated pursuant to this subparagraph 1(c)(ii) shall be included in the calculation of Net Income, Net Loss, Net Property Gain and Net Property Loss and will be allocated pursuant to subparagraphs 1(a) and 1(b).
Net Income, Net Loss, Net Property Gain, Net Property Loss and other Partnership items shall be allocated pursuant to the provisions of Exhibit B.
To the extent Net Property Loss is allocated to Partners Holding Class B Units pursuant to subparagraph 1(b), such Net Property Loss shall be allocated amount the Partners holding Class B Units in a manner that reverses the allocation of Net Property Gain to such Partner pursuant to this subparagraph 1(c)(ii).
To the extent Net Property Losses are allocated to LTIP Unitholders pursuant to Section 6.03(b), such Net Property Loss shall be allocated among the LTIP Unitholders in a manner that reverses the allocation of Net Property Gain to the LTIP Unitholders pursuant to this Section 6.04(a).
To the extent Net Property Loss is allocated to Partners holding Class B Units pursuant to Section 5.01(b), such Net Property Loss shall be allocated among the Partners holding Class B Units in a manner that reverses the allocation of Net Property Gain to such Partner pursuant to this Section 5.01(c)(iii).
To the extent Net Property Loss is allocated to LTIP Unitholders pursuant to Section 5.01(b), such Net Property Loss shall be allocated among the LTIP Unitholders in a manner that reverses the allocation of Net Property Gain to the LTIP Unitholders pursuant to this Section 5.01(c)(v).

More Definitions of Net Property Loss

Net Property Loss means, for each fiscal year or other applicable period, items of income, gain, loss or deduction that are components of the Partnership’s Net Income or Net Loss for such year or period from the disposition of any Property, including the net capital gain realized in connection with the actual or hypothetical sale of all or substantially all of the assets of the Partnership, including but not limited to net capital gain realized in connection with an adjustment of the Gross Asset Value of any Property which requires that the Capital Accounts of the Partners be adjusted pursuant to Sections 1.704-1(b)(2)(iv)(e), (f) and (g) of the Regulations.”

Net Property Loss means, for each fiscal year or other applicable period, items of income, gain, loss or deduction that are components of the Partnership’s Net Income or Net Loss for such year or period from Sales, including, but not limited to, the amount of any net capital gain realized in connection with an adjustment of the Gross Asset Value of any Real Estate Asset which requires that the Capital Accounts of the Partners be adjusted pursuant to Sections 1.704-1(b)(2)(iv)(e), (f) and (g) of the Regulations. For these purposes, the Gross Asset Value of the Real Estate Assets shall reflect the market capitalization of the General Partner (increased by the amount of any Partnership liabilities).”

Net Property Loss means for any period: (i) the net gain or net loss of the Company for such period, as determined under Federal income tax principles, attributable to the sale or other disposition of assets other than in the ordinary course of the Company's business, and taking into account any separately reported items related thereto; plus (ii) in the event of a distribution during such period by the Company of assets in kind, the amount of net gain or net loss that would have been realized by the Company if it had sold such assets for their fair market value immediately prior to such distribution; provided, however, that Net Property Gain and Net Property Loss (x) shall be computed by taking into account depreciation, depletion, amortization, income, gain and loss as determined with reference to the fair market value of Company assets at the time of their contribution to the Company or their revaluation pursuant to Section 5.01(c) rather than with respect to the Company's adjusted tax bases (for Federal income tax purposes) in such assets (as required by Section 1.704-1(b)(2)(iv)(g) by the Treasury Regulations), and (y) shall not take into account any items of income, gain, loss or deduction that are specially allocated under Section 5.02(d) or Section 5.02(g).

Net Property Loss means, for any Partnership Year, the excess of losses realized from the sale or disposition of real property and other capital assets of the Partnership properly taken into account (in the manner set forth with respect to this definition in the paragraph immediately following the definition of “Net Property Loss”), over the gains realized in connection with the sale or disposition of real property and other capital assets of the Partnership (in the manner set forth with respect to this definition in the paragraph immediately following the definition of “Net Property Loss”). For purposes of the foregoing definitions of “Net Operating Income”, “Net Operating Loss”, “Net Property Gain” and “Net Property Loss”, such amounts shall be determined with respect to each Partnership Year of the Partnership, by taking into account an amount equal to the applicable items of the Partnership’s taxable income or loss for such Partnership Year, as determined for book purposes in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss or deduction for book purposes required to be stated separately pursuant to Code Section 703(a)(1) shall be included in taxable income or loss), with the following adjustments:

Net Property Loss. Actual FFO," and "Actual FFO Per Share," in their entirety and to substitute the following definitions in their place: