Common use of 754 Election Clause in Contracts

754 Election. In the case of a transfer of an Interest which is permitted by this Agreement and which is made in the manner provided in Section 743 of the Code, then upon the request of the transferee of such Interest, the Company shall file an election under Section 754 of the Code in accordance with procedures set forth in the Treasury Regulations applicable thereto.

754 Election. In the case of a transfer of an a Company Interest which is permitted by this Agreement and which is made in the manner provided in Section 743 of the Code, then upon the request of the transferee of such Company Interest, the Company shall file an election under Section 754 of the Code in accordance with procedures set forth in the Treasury Regulations applicable thereto.

754 Election. In the case of a transfer of an Interest a Company interest which is permitted by this Agreement and which is made in the manner provided in Section 743 of the Code, then upon the request of the transferee of such InterestCompany interest, the Company Managing Member may (but shall file not be required to) file, on behalf of the Company, an election under Section 754 of the Code in accordance with procedures set forth in the Treasury Regulations applicable thereto.

754 Election. In the case of a transfer of an Interest which is permitted by this Agreement and which is made in the manner provided in Section 743 of the Code, then upon the request of the transferee of such Interest, the Company shall file an election under Section 754 of the Code in accordance with procedures set forth in pursuant to the Treasury Regulations applicable thereto.