Common use of Section 751 Assets Clause in Contracts

Section 751 Assets. In the event of any transfer or redemption of a Partnership Interest, the General Partner shall provide the parties with the amount of Partnership assets described in

Section 751 Assets. In the event of any transfer or redemption of a Partnership Interest, the General Partner shall provide the parties with the amount of Partnership assets described inin Section 751 of the Code as of the date of such transfer or redemption. Each of the parties to any such transfer or redemption agrees to report such transaction on its own federal income tax returns consistent with such information supplied by the General Partner.