Common use of No Assurance of Tax Benefits Clause in Contracts

No Assurance of Tax Benefits. He, she, or it acknowledges that there can be assurance that the Code or the Treasury Regulations will not be amended or interpreted in the future in such a manner so as to deprive the Partnership and the Limited Partners of some or all of the tax benefits they might now receive, nor that some of the deductions claimed by the Partnership or the allocations of items of income, gain, loss, deduction, or credit among the Limited Partners may not be challenged by the Internal Revenue Service.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.), Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.), Limited Partnership Agreement (Investment Grade R.E. Income Fund, L.P.)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!