Simulated Depletion Deductions definition

Simulated Depletion Deductions means the simulated depletion allowance computed by the Fund with respect to its oil and gas properties pursuant to Section 1.704-(1)(b)(2)(iv)(k)(2) of the Regulations. In computing such amounts, the Manager shall have complete and absolute discretion to make any and all permissible elections.
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Simulated Depletion Deductions means the hypothetical depletion allowance computed by the Partnership with respect to its oil and gas properties pursuant to Section 1.704-1(b)(2)(iv)(k)(2) of the Regulations. In computing such amounts, the Partnership shall use the method of depletion that produces, with respect to each oil and gas property owned by the Partnership, the largest Simulated Depletion Deduction, and the General Partner shall have authority to make any and all permissible elections for such purpose.
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Simulated Depletion Deductions means the simulated depletion allowance computed by the Company with respect to its Oil and Gas Properties pursuant to Treasury Regulations § 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion Deductions, the CEO, subject to the approval of the Board of Managers, will apply on a property by property basis the simulated cost depletion method or the simulated percentage depletion method (without regard to the limitations in Section 613A of the Code) under Treasury Regulations § 1.704-1(b)(2)(iv)(k)(2), as determined by the CEO, subject to the approval of the Board of Managers.
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Examples of Simulated Depletion Deductions in a sentence

  • Simulated Depletion Deductions, Simulated Loss, and IDCs with respect to each Oil and Gas Property shall be allocated among the Members in proportion to the manner in which the Simulated Basis of such property is allocated between the Members pursuant to Section 5.3(a), provided,however, if the percentage depletion method is used, any excess percentage depletion shall be allocated in accordance with Treasury Regulation Section 1.704-1(b)(4)(iii).


More Definitions of Simulated Depletion Deductions

Simulated Depletion Deductions means, for each Fiscal Year, an amount equal to the simulated depletion allowable with respect to an oil and gas asset for such Fiscal Year pursuant to Treasury Regulations Section 1.704-l(b)(2)(iv)(k)(2), applying the simulated cost depletion method. With respect to any oil and gas asset whose Carrying Value differs from its adjusted tax basis for federal income tax purposes at the beginning of a Fiscal Year, Simulated Depletion Deductions shall be that amount determined by applying the principles of Treasury Regulations Section l.611-2(a)(l) as if such Carrying Value was the adjusted basis upon which simulated cost depletion is computed under Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2); provided, however, if the Carrying Value of an oil and gas asset is adjusted pursuant to Section 4.6(e) during a Fiscal Year, following such adjustment Simulated Depletion Deductions shall thereafter be calculated under the preceding clause based upon such adjusted Carrying Value, as so adjusted.
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Simulated Depletion Deductions means the simulated depletion allowance computed by the Company with respect to its Oil and Gas Properties pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion Deductions with respect to any Oil and Gas Property, the Simulated Basis of such property shall be deemed to be the Book Basis of such property, and in no event shall such allowance, in the aggregate, exceed such Simulated Basis. For purposes of computing Simulated Depletion Deductions, the Company will apply on a property by property basis the simulated cost depletion method or the simulated percentage depletion method under Treasury Regulations Section 1.704-1(b)(2)(iv)(k)(2), as reasonably determined by the Manager.
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Simulated Depletion Deductions means the simulated depletion allowance computed by the Partnership with respect to its oil and gas properties pursuant to Section 1.704-1(b)(2)(iv)(k)(2) of the Regulations, except that if the Carrying Value of an oil and gas property differs from its adjusted tax basis at the beginning of such allocation year, Simulated Depletion shall be an amount which bears the same ratio to such beginning Carrying Value as the Actual Depletion for such allocation year bears to such beginning adjusted tax basis; provided that if the adjusted tax basis of an oil and gas property at the beginning of the allocation year is zero, Simulated Depletion shall be determined with the reference to such beginning Carrying Value using any reasonable method selected by the Partner. In computing such amounts, the Partners shall have complete and absolute discretion to make any and all permissible elections.
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Simulated Depletion Deductions means a depletion allowance computed for each year with respect to each Oil and Gas Property, using either the cost depletion method or the percentage of depletion method (computed in accordance with Code Section 613 at the rates specified in Code Section 613A (c)(5) without regard to the limitations of Code Section 613A, which theoretically could apply to any Partner) as determined by the Partnership, subject, however, to the requirements set forth in Treasury Regulations Section 1.704-1(b)(2)(iv)(k). Simulated Depletion Deductions shall be determined as necessary by reference to the Simulated Basis of the Oil and Gas Property.
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Related to Simulated Depletion Deductions

  • Simulated Depletion means, with respect to each oil and gas property, a depletion allowance computed in accordance with federal income tax principles (as if the Simulated Basis of the property were its adjusted tax basis) and in the manner specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2). For purposes of computing Simulated Depletion with respect to any property, the Simulated Basis of such property shall be deemed to be the Carrying Value of such property, and in no event shall such allowance, in the aggregate, exceed such Simulated Basis.

  • Simulated Gain means the excess, if any, of the amount realized from the sale or other disposition of an oil or gas property (as defined in Section 614 of the Code) over the Carrying Value of such property and determined pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2).

  • Simulated Loss means the excess, if any, of the Carrying Value of an oil or gas property (as defined in Section 614 of the Code) over the amount realized from the sale or other disposition of such property and determined pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(k)(2).

  • Simulated Basis means the Carrying Value of any oil and gas property (as defined in Section 614 of the Code).

  • Wasteload allocation or "wasteload" or "WLA" means the portion of a receiving surface water's loading or assimilative capacity allocated to one of its existing or future point sources of pollution. WLAs are a type of water quality-based effluent limitation.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Agreed Deductions means any deductions the Agency Worker has agreed can be made from their pay;

  • Permitted Deductions means the following deductions to the extent included in the gross invoiced sales price of the Product, or otherwise directly paid or incurred by the Selling Entity with respect to the sale:

  • Transaction Deductions means the sum of all items of loss or deduction for U.S. federal income tax purposes resulting from or attributable to (a) the payment of legal, financial advisory, accounting and other fees and expenses of the Group Companies (but not of Buyer) in connection with the transactions contemplated hereby, including the Seller Transaction Expenses and (b) any other payment contemplated by this Agreement that is in the nature of compensation for U.S. federal income tax purposes.

  • Load allocation means the portion of a receiving water's loading capacity that is allocated to one

  • Allowable Deductions means the following costs, charges, and expenses incurred or accrued by Payor:

  • Cash from Operations means the net cash realized by the Company from any source other than a Capital Transaction, after payment of all cash expenditures of the Company, including, but not limited to, all operating expenses including all fees payable to the Manager or Affiliates, all payments of principal and interest on indebtedness, expenses for repairs and maintenance, capital improvements and replacements, and such reserves and retentions as the Manager reasonably determines to be necessary and desirable in connection with Company operations with its then existing assets and any anticipated acquisitions.

  • Waste load allocation means (i) the water quality-based annual mass load of total nitrogen or

  • Excess Contributions means, with respect to any Plan Year, the excess of:

  • Economic loss means any of the following types of pecuniary harm:

  • Cash Flow from Operations means net cash funds provided from operations, exclusive of Cash from Sales or Refinancing, of the Company or investment of any Company funds, without deduction for depreciation, but after deducting cash funds used to pay or establish a reserve for expenses, debt payments, capital improvements, and replacements and for such other items as the Board of Directors reasonably determines to be necessary or appropriate and subject to Loan Conditions.

  • Allocated Loss Adjustment Expenses or “ALAE” means all court costs and court expenses; pre- and post-judgement interest; fees for service of process; attorneys’ fees; cost of undercover operative and detective services, costs of employing experts; costs for legal transcripts; costs for copies of any public records; costs of depositions and court-reported or recorded statements; costs and expenses of subrogation; and any similar fee, cost or expense reasonably chargeable to the investigation, negotiation, settlement or defense of a loss or a claim or suit against you, or to the protection and perfection of your or our subrogation rights.

  • Net Income (Loss) means with respect to any Person and for any period, the aggregate net income (or loss) after taxes of such Person for such period, determined in accordance with GAAP.

  • Curative Allocation means any allocation of an item of income, gain, deduction, loss or credit pursuant to the provisions of Section 6.1(d)(ix).

  • Excess Contribution means a contribution that exceeds the

  • Adjusted Net Earnings from Operations means, with respect to any fiscal period of Foamex, the net income of Foamex and its Subsidiaries after provision for income taxes for such fiscal period, as determined in accordance with GAAP on a consolidated basis (excluding the Joint Ventures and the China Joint Venture) and reported on the Financial Statements for such period, excluding any and all of the following included in such net income: (a) gain or loss arising from the sale of any capital assets; (b) gain (or loss) arising from any write-up (or write-down) in the book value of any asset; (c) earnings of any Person, substantially all the assets of which have been acquired by Foamex or any of its Subsidiaries in any manner, to the extent realized by such other Person prior to the date of acquisition; (d) earnings of any Person (other than Foamex Canada and the Mexican Subsidiaries and their respective Subsidiaries) in which Foamex or any of its Subsidiaries has an ownership interest unless (and only to the extent) such earnings shall actually have been received by Foamex or any of its Domestic Subsidiaries in the form of cash distributions; (e) earnings of any Person to which assets of Foamex or any of its Subsidiaries shall have been sold, transferred or disposed of, or into which Foamex or any of its Subsidiaries shall have been merged, or which has been a party with Foamex or any of its Subsidiaries to any consolidation or other form of reorganization, prior to the date of such transaction; (f) gain or loss arising from the acquisition of debt or equity securities of Foamex or any of its Subsidiaries or from cancellation or forgiveness of Debt; and (g) gain or loss arising from extraordinary items, as determined in accordance with GAAP.

  • Adjusted gross receipts means the gross receipts less winnings paid to wagerers.

  • Adjusted Funds From Operations means, for any period, Net Cash Flows From Operating Activities for such period plus Interest Expense for such period minus (x) the portion (but not less than zero) of Net Cash Flows From Operating Activities for such period attributable to any consolidated Subsidiary that has no Debt other than Nonrecourse Indebtedness and (y) After-Tax Transitional Funding Instrument Revenue for such period.

  • Net After-Tax Benefit means the Present Value of a Payment net of all federal state and local income, employment and excise taxes imposed on Executive with respect thereto, determined by applying the highest marginal rate(s) applicable to an individual for Executive’s taxable year in which the Change in Control occurs.

  • Tax Credits means the low-income housing tax credits found in Section 42 of the Code, and all rules, regulations, rulings, notices and other promulgations thereunder.

  • Required Allocations means any allocation of an item of income, gain, loss or deduction pursuant to Section 6.1(d)(i), Section 6.1(d)(ii), Section 6.1(d)(iv), Section 6.1(d)(v), Section 6.1(d)(vi), Section 6.1(d)(vii) or Section 6.1(d)(ix).