Common use of Traditional Method Clause in Contracts

Traditional Method. Notwithstanding any provision of the Partnership Agreement, the Partnership and the Subsidiary Partnership shall use the "traditional method" under Regulations Section 1.704-3(b) for purposes of making all allocations under Section 704(c) of the Code (with a "curative allocation" to offset the effects of the "ceiling rule," upon any sale of a Protected Property).

Appears in 2 contracts

Sources: Tax Protection Agreement (Brandywine Realty Trust), Tax Protection Agreement (Brandywine Realty Trust)