Common use of BBA Elections Clause in Contracts

BBA Elections. The Fund will not elect into the partnership audit procedures enacted under Section 1101 of the BBA (the “BBA Procedures”) pursuant to Internal Revenue Code Section 6221(b) (as amended by the BBA). For any year in which applicable law and regulations do not permit the Fund to elect out of the BBA Procedures, then within forty-five (45) days of any notice of final partnership adjustment, the Fund will elect the alternative procedure under Internal Revenue Code Section 6226, as amended by Section 1101 of the BBA, and furnish to the Internal Revenue Service and each Member during the year or years to which the notice of final partnership adjustment relates a statement of the Member’s share of any adjustment set forth in the notice of final partnership adjustment.

BBA Elections. The Fund To the extent permitted by applicable law and regulations, the Company will not annually elect into the partnership audit procedures enacted under Section 1101 out of the BBA (the “BBA Procedures”) Procedures for tax years beginning on or after January 1, 2018 pursuant to Internal Revenue Code Section 6221(b) (as amended by the BBA). For any year in which applicable law and regulations do not permit the Fund Company to elect out of the BBA Procedures, then within forty-five (45) 45 days of any notice of final partnership adjustment, the Fund Company will elect the alternative procedure under Internal Revenue Code Section 6226, as amended by Section 1101 of the BBA, and furnish to the Internal Revenue Service and each Member during the year or years to which the notice of final partnership adjustment relates a statement of the Member’s 's share of any adjustment set forth in the notice of final partnership adjustment.

BBA Elections. The Fund To the extent permitted by applicable law and regulations, the Company will not annually elect into out of the partnership audit procedures enacted under Section 1101 of the BBA (the “BBA Procedures”) pursuant to Internal Revenue Code Section 6221(b) (as amended by the BBA). For any year in which applicable law and regulations do not permit the Fund Company to elect out of the BBA Procedures, then within forty-five (45) days of any notice of final partnership adjustment, the Fund Company will elect the alternative procedure under Internal Revenue Code Section 6226, as amended by Section 1101 of the BBA, and furnish to the Internal Revenue Service and each Member during the year or years to which the notice of final partnership adjustment relates a statement of the Member’s share of any adjustment set forth in the notice of final partnership adjustment.

BBA Elections. The Fund Company will not annually elect into out of the partnership audit procedures enacted under Section 1101 of the BBA (the “BBA Procedures”) pursuant to Internal Revenue Code Section 6221(b) (as amended by the BBA). For any year in which applicable law and regulations do not permit the Fund Company to elect out of the BBA Procedures, then within forty-five (45) days of any notice of final partnership adjustment, the Fund Company will elect the alternative procedure under Internal Revenue Code Section 6226, as amended by Section 1101 of the BBA, and furnish to the Internal Revenue Service and each Member during the year or years to which the notice of final partnership adjustment relates a statement of the Member’s share of any adjustment set forth in the notice of final partnership adjustment.

BBA Elections. The Fund will not To the extent permitted by applicable law and regulations, the Partnership Representative on behalf of the Company shall annually elect into out of the partnership audit procedures enacted under Section 1101 of the BBA (“the “BBA Procedures”) pursuant to Internal Revenue Code Section 6221(b) (), as amended by the BBA). For any year in which applicable law and regulations do not permit the Fund Company to elect out of the BBA Procedures, then within forty-five (45) days of any notice of final partnership adjustment, the Fund will Company shall elect the alternative procedure under Internal Revenue Code Section 6226, as amended by Section 1101 of the BBA, and furnish to the Internal Revenue Service and each Member (including former Members) during the year or years to which the notice of final partnership adjustment relates relates, a statement of the Member’s share of any adjustment set forth in the notice of final partnership adjustment.