Common use of Right to Make Section 754 Election Clause in Contracts

Right to Make Section 754 Election. The Management Committee may, at its sole discretion, make or revoke, on behalf of the Company, an election in accordance with section 754 of the Code, so as to adjust the basis of Company property in the case of a distribution of property within the meaning of section 734 of the Code, and in the case of an assignment of Membership Interest within the meaning of section 743 of the Code. The Member shall, upon request of the Management Committee, supply the information necessary to give effect to such an election. 4.8 TAX MATTERS PARTNER (a)

Right to Make Section 754 Election. The Management Committee may, at its sole discretion, may make or revoke, on behalf of the Company, an election in accordance with section Section 754 of the Code, so as to adjust the basis of Company property in the case of a distribution of property within the meaning of section Section 734 of the Code, and in the case of an assignment a transfer of Membership Interest a Company interest within the meaning of section Section 743 of the Code. The Each Member shall, upon request of the Management Committee, Committee supply the information necessary to give effect to such an election. 4.8 TAX MATTERS PARTNER (a).

Right to Make Section 754 Election. The Management Committee may, at in its sole discretion, make or revoke, on behalf of the Company, an election in accordance with section §754 of the Code, so as to adjust the basis of Company property in the case of a distribution of property within the meaning of section §734 of the Code, and in the case of an assignment a transfer of Membership Interest a Company interest within the meaning of section §743 of the Code. The Each Member shall, upon request of the Management Committee, supply the information necessary to give effect to such an election. 4.8 TAX MATTERS PARTNER (a).